- US presence will help the company grow business partnerships in Latin America.
- Business to be led by Chris Jensen
- It is also launching a new tool, ‘Screen Winner’, that helps brands reduce product concept testing time to just days from months.
Ai Palette is pleased to announce that it is expanding its business to the United States and is launching a new tool for concept screening.
Ai Palette expects this expansion will help it grow its business and foster partnerships in the United States and in Latin America. The company’s customers, such as Diageo, Cargill and Hersheys, are already using its proprietary AI-based tool to track consumer trends across the region, including the US, Canada, Mexico and Colombia. The service is available across the most in-demand food and beverage categories: Bakery, Confectionery, Beverages, Dairy, Ready-To-Eat, Sugar Reduction and Plant-Based.
Recently, the company signed an exclusive partnership with RGNutri, a Brazilian food and nutrition consultancy. As a result of this partnership, large customers in the country, including Ambev, Bauducco and BRF, will have the ability to harness Ai Palette’s valuable insights and launch their products in the market quickly.
The US business of Ai Palette will be led by Chris Jensen, a veteran of the market intelligence sector with a track record of growing consulting and startup businesses. Chris also brings experience working with top CPG brands and agencies.
Somsubhra GanChoudhuri, Co-founder and CEO of Ai Palette, said: “Bringing Ai Palette to the United States, one of the most innovative CPG markets in the world, has always been on our roadmap. From day one, we designed our technology to be relevant globally, which puts us in a strong position to reimagine the CPG product development space, where AI can create a $53 billion impact. As we establish ourselves in the US, we expect to accelerate product innovation for more CPG brands in their fastest-growing markets — wherever that is in the world.”
Chris Jensen, Vice President of Growth, Americas, for Ai Palette, said:
“I feel privileged to lead an exciting company like Ai Palette as it continues on its mission to help CPG businesses create their next bestseller by harnessing the power of artificial intelligence. We see numerous exciting opportunities with this expansion into the United States, one of the largest CPG markets in the world, where some of the most innovative brands in this space operate in crucial categories. We aim to leverage our position in the industry to establish ourselves as the leading provider of consumer insights for CPG brands. Consumer preferences are changing faster than ever. Food & beverage companies require agile solutions that provide real-time insights to thrive in this environment. I’m excited to meet this need through the Ai Palette platform.“
SCREEN WINNER
Ai Palette is also excited to launch a new tool, ‘Screen Winner’, which automatically analyses the viability of new product concepts for a market and category by scoring each concept’s originality and relevance against organic data and trends. It is designed to automatically screen and prioritises new product concepts based on country and category intelligence.
Screen Winner allows brands to test dozens of concept ideas and find winning products that can be launched quickly. Screen Winner can test and rank dozens of concepts within the same day, which shortens this particular stage of the product innovation process from weeks or months to days. Trending ingredients and themes can be used to build concept ideas for testing, which Screen Winner will rank each concept by analysing billions of datapoints. Brands can then check whether the concepts could be a brand’s next bestseller.
Dr Peter Angeline, CPG Consultant, Data Scientist. Digital Futurist and a pioneer in the CPG product innovation space who has worked with global brands such as Hershey’s, Lockheed Martin and IBM said: “When designing products for today’s omnichannel consumer market, an insightful differentiation can be the difference between a product that looks ordinary and one that catches the eye of the consumer. It will take the power of AI to extract those clues from the market data and make them apparent to product designers. Screen Winner has the power to identify the right market nuances needed by companies that strive to get to market faster and with the most competitive product possible.”
About Ai Palette
Ai Palette is a predictive analytics technology company that helps CPG brands worldwide create best-selling products by discovering trends as they emerge. Ai Palette’s customers include Kellogg’s, Hershey’s, Diageo, Nestle, Cargill and Olam, who use the platform in the Asia Pacific, Europe, the US and Latin America. Ai Palette’s proprietary technology tracks trends in 21 countries and 15 languages, across 50+ platforms. The company was founded in Singapore and had an engineering hub in Bangalore. In August 2021, Ai Palette raised $4.4 million in a Series A funding round co-led by pi Ventures and Exfinity Venture Partners. The company is also backed by AgFunder, Decacorn Capital, and Anthill Ventures. Follow Ai Palette on LinkedIn.
Media Contact:
Derek Francis
marketing@aipalette.com
