LONDON--(BUSINESS WIRE)--The global artificial intelligence (AI) market in food and beverage (F&B) industry market is poised to grow by USD 275.34 million during 2017-2021, progressing at a CAGR of more than 42% during the forecast period. Request Free Sample Pages

Read the 77-page research report with TOC on "Artificial Intelligence (AI) Market in Food and Beverage (F&B) Industry Analysis Report by Application (Transportation and logistics, Quality control, Production planning, and Others), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2017-2021".

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The introduction of regulations to improve food safety and emergence of IIoT is anticipated to boost the growth of the market.

Manufacturers in the F&B industry are increasingly adopting automation to meet regulations and guidelines set by industry associations for the maintenance of quality products. F&B manufacturers are required to have a safety system in place for analysis of hazards and risk-based preventive controls. To meet these requirements, food companies are expected to set up systems for thorough documentation of the processes implemented, to demonstrate that they are meeting the legal criteria. Vendors are offering AI platforms to meet requirements regarding preventive controls related to food safety, sanitary transportation, and foreign supplier verification programs. Quality management, database management, food production management, and enterprise resource planning are expected to be implemented with the help of technologies involving sensors and AI algorithms. Thus, the introduction of regulations to improve food safety is expected to drive market growth during the forecast period.

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Major Five Artificial Intelligence (AI) Market Companies in Food and Beverage (F&B) Industry:

Aboard Software

Aboard Software offers real-time operational solutions that allow end-users to achieve maximum efficiency, eliminate complexity, and speed up operations by providing a repository of business. The company offers Aboard Active ERP/MRP, Visual Ledger MRP, Small Business Consolidator MRP, and Enterprise Integrator MRP.

Ailytic

Ailytic delivers innovative decision support solutions to various industries such as manufacturing, general process, discrete, F&B, and packaging industries. The company offers Ailytic Advanced Scheduler, which simplifies tasks such as importing, optimizing, and selecting the best sequence of orders for a production environment.

Analytical Flavor Systems

Analytical Flavor Systems has created the platform Gastrograph AI, to help producers in the F&B industry make data-based decisions. The company offers Gastrograph AI platform, which helps in improving the production and sales of products.

Deepnify

Deepnify offers machine-learning powered demand forecasts to help in supply chain management. The company offers Deepnify solutions that use machine learning and deep learning algorithms to help end-users improve on metrics such as product availability, inventory turns, customer order fill rate, and margin.

ImpactVision

ImpactVision offers non-invasive and real-time ImpactVision product for the replacement of destructive sample tests, subjective visual inspections, and lab tests to provide more accurate data. The product can be easily integrated into production facilities and distribution centers.

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Global Artificial Intelligence (AI) Market in Food and Beverage (F&B) Industry: Application Outlook (Revenue, USD Million, 2017-2021)

Global Artificial Intelligence (AI) Market in Food and Beverage (F&B) Industry: Regional Outlook (Revenue, USD Million, 2017-2021)

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Global Artificial Intelligence (AI) Market in Food and Beverage (F&B) Industry 2017-2021 | Evolving Opportunities with Aboard Software and Ailytic |...

For companies operating in the transportation marketplace, speed and accuracy are paramount. Carriers and shippers alike are continually on the lookout for ways to be faster, less expensive and more efficient to the point where standard delivery seems to mirror expedited shipping.

As the industry moves faster and faster, the documents and data generated grow at an exponential rate. Managing these documents often requires manual processes that are time-consuming and can bring any efforts to maximize efficiency to a standstill. The answer isn't to work harder but to work smarter. To avoid wasting time and resources on document processing, it is crucial for every transportation company to update document and data management strategies.

The transportation industry is in the midst of an artificial intelligence (AI) renaissance. Everything from workflow solutions to fleet management and financial decisions can be streamlined using an AI-based automated content management system (CMS).

A CMS is a software application that is used to manage a company's digital content. Transportation companies rely on a CMS to upload, process and distribute the countless documents and data involved in the shipping process. These software applications must be able to interpret data quickly without compromising accuracy.

"Transportation organizations need to start applying more technology to manage and react to data," said Larry Kerr, president and CEO of EBE Technologies. "In many cases, having the data and not reacting is worse than not having the data at all."

EBE Technologies provides automated workflow solutions for the transportation and logistics industry. The East Moline, Illinois-based company's SHIPS enterprise business process management solution is utilized by more than 600 transportation companies.

It goes without saying that everyone in transportation wants to achieve efficiency, reduce unnecessary costs and improve billing accuracy, but not all believe they have the power to upgrade. The truth, however, is that it's never been easier for transportation companies to utilize an AI-powered CMS.

Convincing companies to adopt AI workflow solutions is not difficult, according to Kerr.

"Recently, many of our clients have been affected by rising insurance costs," Kerr said. "Rates have been softer, which means the additional revenue to cover such costs must come from improvements in operating efficiencies."

However, simply using any CMS isn't sufficient to manage workflows effectively. Some transportation companies are unaware of the additional operating costs associated with the use of their current systems. Many such systems lack the ability to provide interoperability among companies' critical systems. In fact, market research firm IDC estimates that companies lose 20-30% in revenue every year due to inefficiencies related to process and content management.

The use of a CMS does save employees a tremendous amount of time from the often tedious process of manually routing documents and entering data. However, these systems may still require each transaction to be manually processed, ensuring it's routed safely to the proper department or critical system. According to an EBE Technologies white paper, a CMS with the power of AI workflows allows transportation providers to work by exception. Through this process, only out-of-standard transactions require staff intervention. AI allows providers to staff for exception levels, not 100% of the transaction levels.

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The AI-based work-by-exception process is further enhanced by optical character recognition (OCR) technology that possesses the ability to collect data by "reading" documents. Recognized OCR technology scans and automatically indexes a wide range of documents, including bills of lading, proof-of-delivery documents and invoices. A truly effective CMS, however, is incomplete without unstructured OCR processing, which converts unstructured text and optical marks into data and provides the catalyst for interoperability among critical systems, according to the white paper.

Utilizing both AI and OCR technology allows employees to focus their attention on completing out-of-standard transactions and determining the root cause for the failure. Once determined, the AI engine can be configured to manage such exceptions going forward. As a result, overhead costs and time to completion are reduced while data accuracy is greatly improved.

A CMS powered by AI workflows has a dramatic impact throughout the enterprise. As an example, it is not unheard of for companies relying on a traditional CMS to take upward of a week to gather and process the information needed to submit an invoice. The use of an AI-powered CMS with automated workflows has transportation providers benchmarking their invoice processing time to less than half an hour from the time of delivery, according to EBE.

"With AI managing the required documents and how they should be delivered, the possibility of human error is eliminated, which improves your billing functions," Kerr said. "When you provide the right documents to your customer quickly, hopefully you'll get your payment faster. With many shippers enforcing carrier scorecards regarding document and data availability, AI is now a requirement to meet shippers' expectations without additional labor."

According to EBE, utilizing a CMS powered by AI has advantages beyond improved data accuracy and working by exception to lower costs within a transportation organization. In the accounting department, carriers no longer find themselves paying duplicate invoices, net 10 terms are realized and fees for late payments are eliminated. In recruiting, AI allows carriers to respond to and onboard qualified candidates more quickly. In the safety department, data from disparate systems can be analyzed to identify at-risk driver behavior and provide corrective action automatically. In addition, the expiration of Department of Transportation documents and endorsements can be managed through automated processes. These are just a few examples of how an AI-powered CMS eliminates revenue leaks in operations and mitigates potential incidents and fines within the safety department.

Many transportation companies have embraced AI as a functional requirement, but not everyone is on board. As Kerr explained, the use of AI in the back office, as well as interoperability between systems, has only become viable in the last couple of years.

According to Kerr, in the past many systems lacked the ability to integrate with one another, resulting in redundant labor tasks. He noted that those barriers have now been broken, thanks to standard API interfaces among databases allowing for interoperability using AI. The API standardization greatly lowered the cost and risk associated with implementing an AI-based CMS.

EBE possessed the foresight to understand the critical relationship between the data within disparate systems. Through the open architecture of EBE solutions, the company was able to develop a robust AI-powered CMS solution, building upon its prior releases. This solution helps carriers achieve work-by-exception staffing levels, improve data integrity among systems and deliver a superior customer experience.

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Artificial Intelligence Is Critical In Today's Workflow Solutions - Yahoo Finance

February 04, 2020 -Highmark Inc.s Financial Investigations and Provider Review (FIPR) department has leveraged artificial intelligence to generate over $260 million in savings associated with fraud, waste, and abuse in 2019, and has saved over $850 million in the last five years.

The insurance organization is using advanced AI tools to detect indicators of fraudulent activity much faster than before. Highmark is also employing strategies to limit financial exposure of their customers. In 2020, FIPR is utilizing AI to further enhance the companys ability to identify, prevent, and stop fraudulent activities.

We know the overwhelming majority of providers do the right thing. But we also know year after year millions of health care dollars are lost to fraud, waste and abuse, said Melissa Anderson, executive vice president and chief audit and compliance officer, Highmark Health. By using technology and working with other Blue Plans and law enforcement, we have continually evolved our processes and are proud to be among the best nationally.

FIPR uses an internal team made up of registered nurses, investigators, accountants, former law enforcement agents, clinical coders, and programmers. The team performs audits to detect unusual claims, coding reviews, and investigations that evaluate the appropriateness of provider payments.

Highmarks Payment Integrity program deploys twenty-eight unique initiatives to help ensure claims payment accuracy. Fifteen of these initiatives are embedded within our FIPR department and aim directly at addressing instances of fraud, waste and abuse. Healthcare claims go through rigorous reviews, including automated AI algorithms as well as manual assessments, said Kurt Spear, vice president of financial investigations and provider review for Highmark Inc.

Although just recently implemented, were already seeing positive results from our AI software. The goal of AI is to adapt quickly to changing behavior and to help predict aberrancies earlier than traditional tools that often rely on established rules to catch suspicious behavior. We know it is much easier to stop these bad actors before the money goes out the door then pay and have to chase them.

Recently, Change Healthcare conducted a review of Highmark Inc.s Payment Integrity programs, including FIPR. The review showed that Highmarks program outperforms the industry standard and saves approximately ten percent of medical claims for group customers, and nearly 33 percent more savings than other national payers.

We have known for some time that our programs have substantial return on investment and were top notch. This external review proves that we are among the best in the nation, and that means real savings for our Highmark regional and national customers, said Jeff Bernhard, senior vice president of national and commercial markets, Highmark Inc.

This is also a benefit to our Sales teams when out competing to win business. They can share this information with our prospective customers and truly benchmark Highmark, and show it superiority around fraud and waste controls, compared to other insurance carriers.

AI has emerged as a viable, innovative way to reduce fraud and waste in the healthcare system. In a recent Optum survey of health industry leaders, 43 percent said they believe that AI will help detect fraud, waste, or abuse in reimbursement.

Health IT experts have increasingly recognized that AI can help identify which patients need testing for certain conditions, decreasing healthcare spending.

Low risk patients are getting over-tested, and high risk patients arent getting tested enough, Ziad Obermeyer, MD, Assistant Professor of Emergency Medicine at Brigham and Womens Hospital, said at the 2018 World Medical Innovation Forum.

The fact that nobody is getting this balance right is the key to seeing how an algorithm can do so much better.If an algorithm was making the decisions, we could cut tests by about 40 percent and still find about as many patients who will go on to have cardiovascular interventions.

CMS has also adopted AI and other advanced technology in an effort to reduce Medicare fraud, waste, and abuse. In October 2019, the agency unveiled a new five-pillar approach to detecting fraudulent activity based on prevention and technology.

As our programs become more complex, program integrity risks become increasingly difficult to recognize, Seema Verma, CMS Administrator wrote in a blogpost.

As the healthcare industry seeks new and advanced ways to improve care quality and streamline processes, AI tools will continue to permeate payer and provider landscapes.

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Artificial Intelligence Saved Over $260M in Fraud, Waste in 2019 - HealthITAnalytics.com

NEW YORK, Feb. 4, 2020 /PRNewswire/ --

This study analyses the key trends and applications of artificial intelligence in the freight transportation industry by mode of transport i.e. road, rail, air, and ocean freight transportation. This research also analyses the disruptive impact of artificial intelligence on freight transportation business operations and discusses its adoption prospects till 2025. With increased trade flow, the fleet population in freight transportation has become denser, and expectations of customers have evolved beyond recognition, resulting in complex transport operations, requiring operational flexibility from freight operators. Human errors in operations, underutilized assets, low workforce productivity, inefficient operational planning, inability to match supply with demand, and trimmed profit margins are key prevailing concerns with freight operators. The emergence of digital technologies and the rapid technological advancements in digitization have transformed the business and operational landscape of the global freight transportation industry. It is essential for freight operators to embrace such operational complexity and evolve by adopting technologies to turn complexity into an advantage. Today, the world is connected more than ever, and the growth of data generation has been exponential with smart devices and process automation. Data-driven insights help freight operators move forward and gain competitive advantage over their peers. Artificial intelligence enables freight operators to harness data more effectively for actionable insights. Artificial intelligence powered systems in conjunction with other digital technologies such as internet of things and big data analytics utilize data to its full potential to anticipate events for freight operators, aiding them to avoid risks and create innovative solutions. Machine learning algorithms based on neural networks powered by artificial intelligence would unlock multiple benefits for companies operating in the freight transportation industry. AI brings changes to the supply chain with autonomous vehicles, helping fleet operators reduce operating cost with and fuel consumption and plan optimized routes for service. The freight operators that are enhancing their capabilities with artificial intelligence are reaping its benefits by increasing efficiency with predictive intelligence. Artificial intelligence also enriches the relationship between the shipper and carrier with personalized service offerings. Advanced sensor fusion with artificial intelligence supports the integration of smart infrastructure and operating assets and the freight operators in the development of connected freight ecosystem, aiding autonomous fleet management. The transformation of the logistics industry due to artificial intelligence is imperative in the near future; however, the readiness and openness of freight operators for an AI-based data-driven environment will determine how well this industry copes with challenges.

Read the full report: https://www.reportlinker.com/p05843716/?utm_source=PRN

Author: Suriya Anjumohan

Read the full report: https://www.reportlinker.com/p05843716/?utm_source=PRN

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Artificial Intelligence (AI) in the Global Freight Transportation Industry, Forecast to 2025 - Yahoo Finance

DUBLIN, Feb. 4, 2020 /PRNewswire/ -- The "Artificial Intelligence (AI) in the Global Freight Transportation Industry, Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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This study analyses the key trends and applications of artificial intelligence in the freight transportation industry by mode of transport i.e. road, rail, air, and ocean freight transportation. This research also analyses the disruptive impact of artificial intelligence on freight transportation business operations and discusses its adoption prospects until 2025.

With increased trade flow, the fleet population in freight transportation has become denser, and expectations of customers have evolved beyond recognition, resulting in complex transport operations, requiring operational flexibility from freight operators. Human errors in operations, underutilized assets, low workforce productivity, inefficient operational planning, inability to match supply with demand, and trimmed profit margins are key prevailing concerns with freight operators.

The emergence of digital technologies and the rapid technological advancements in digitization have transformed the business and operational landscape of the global freight transportation industry. It is essential for freight operators to embrace such operational complexity and evolve by adopting technologies to turn complexity into an advantage.

Today, the world is connected more than ever, and the growth of data generation has been exponential with smart devices and process automation. Data-driven insights help freight operators move forward and gain a competitive advantage over their peers. Artificial intelligence enables freight operators to harness data more effectively for actionable insights.

Artificial intelligence-powered systems in conjunction with other digital technologies such as internet of things and big data analytics utilize data to its full potential to anticipate events for freight operators, aiding them to avoid risks and create innovative solutions. Machine learning algorithms based on neural networks powered by artificial intelligence would unlock multiple benefits for companies operating in the freight transportation industry.

AI brings changes to the supply chain with autonomous vehicles, helping fleet operators reduce operating cost with and fuel consumption and plan optimized routes for service. The freight operators that are enhancing their capabilities with artificial intelligence are reaping its benefits by increasing efficiency with predictive intelligence. Artificial intelligence also enriches the relationship between the shipper and carrier with personalized service offerings.

Advanced sensor fusion with artificial intelligence supports the integration of smart infrastructure and operating assets and the freight operators in the development of connected freight ecosystem, aiding autonomous fleet management. The transformation of the logistics industry due to artificial intelligence is imperative in the near future; however, the readiness and openness of freight operators for an AI-based data-driven environment will determine how well this industry copes with challenges.

Key Topics Covered

1. Executive Summary

2. Research Scope and Methodology

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3. AI in Logistics Industry

4. AI in Freight Forwarding

5. AI in Freight Transportation

6. Stature of AI Adoption in Freight Transportation

7. Growth Opportunities and Companies to Action

8. The Last Word

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/e4c7tf

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View original content:http://www.prnewswire.com/news-releases/artificial-intelligence-in-the-freight-transportation-industry-2020-2025---featuring-cargofy-fero-and-konux-300998740.html

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Artificial Intelligence in the Freight Transportation Industry, 2020-2025 - Featuring Cargofy, FERO and KONUX - Yahoo Finance