With each passing day, technology is influencing our daily lives at an unprecedented rate, and there is something new being introduced. So much so that today food is also being modified using technology. Emerging technologies like the Internet of Things (IoT) and blockchain are drastically changing the food industry in a way that one can say that the second green revolution is around the corner.
However, it is going to be a digital revolution even if we are talking about using technology for agricultural production or using technology end-to-end in the supply chain, to safeguard food and dispense it into a marketplace. Experts see a fundamental shift of food from Food 1.0 to Food 2.0, and it is all set to transform not only the way people purchase food products but also consume them.
It is important to note that inefficiency in the food system is about a difference in supply and demand. One can observe that we can have an unpredictable amount from weather factors, from variable crop varieties, and innovation that is happening. On the flip side, we also have variable demand as people change their taste preferences. As a survey says that a person may decide the day of, or the week of, what they are trying to eat, based on food that was planned 18 months, or even further back. And this is the way we will be changing our lives which could affect the new marketplaces for food. Matching that access supply whether it is Imperfect Produce as an example or Spoiler Alert that takes an excess product from companies like HelloFresh and finds homes for them. We also have Full Harvest in San Francisco that does the same for farms, into the restaurants and food service industry. Marketplaces, just like Amazon as an omnipresent marketplace for a lot of consumer goods technology will increasingly mushroom marketplaces, digital marketplaces for admission of food.
Another example is blockchain, where for if a retailer is purchasing food he wants to know that that product has been safeguarded through the chain. The blockchain is a revolutionizing technology to help monitor the end-to-end transparency, not only of food safety but also for things such as temperature control. Experts have confidence on blockchain technology because when a retailer purchases any product, he would be able to track the condition of the same and also know where the product has been procured from and where it was halted.
More prominent organizations are using predictive analytics along with artificial intelligence and machine learning. They can precisely anticipate and predict demand how much product is needed and if the order needs to be changed or not. When compared to human judgment, machine learning can easily anticipate the stock and know what is required. Therefore one can say that technology has dramatically influenced the food chain and is all set to make a difference in the ecosystem of food recovery.
