Using AI to help food companies originate new products.
AI Palette is a Singapore-based company founded in 2018 to disrupt the traditional product innovation approach used by all major companies in the Fast Moving Consumer Goods (FMCG) sector. New FMCG products currently have a failure rate of at least 85%, which translates into annual losses of up to $40B for big food and beverage brands. To solve this problem, AI Palette is developing a cloud-based SaaS platform that utilizes big-data analytics to scan millions of data points across multiple geographies to deliver a faster, cheaper and more accurate understanding of consumers’ tastes and developing trends in flavour preferences.
Som Choudhuri has 10+ years of experience in Innovation & New Product Development (3 years at Yokogawa and 7 years at Givaudan as first a sales manager and then as a global sales program lead) and has worked closely with some of the biggest FMCG brands (Nestlé, KFC, Britannia, Unilever) on product concept generation. Som is driven by his motivation to leave a mark in this world. In his last role at Givaudan, he saw firsthand why new products fail and is confident that this problem can be solved with technology. Som obtained a Bachelor of Engineering from Anna University and an MBA from Narsee Monjee Institute of Management Studies.
Himanshu Upreti previously worked at Visa Inc. in the Visa Data Labs division immediately after graduating. His primary work involved building data products and driving PoCs on Visa's Big Data Platform to create a seamless and faster payment experience. He is well-versed and certified in Hadoop, Big Data Analytics, Machine Learning and its related components. His interest in Machine Learning and AI led him to take on multiple responsibilities during his tenure at Visa, which ultimately resulted in two trade secrets. Himanshu’s motivation to start a startup comes from his creative independence and strong desire to solve challenging problems. Himanshu holds a Bachelor’s in Mathematics and Computing from the Indian Institute of Technology at Guwahati.