Key applications of AI include predictive forecasting, financial automation, and personalization.
The AI generation has shortened the innovation cycle from five to ten years to just six to twelve months, according to Emma PitfieldPartner, Consulting at KPMG during a conference session titled AI – Beyond the Hype at the QSR Media Conference & Awards 2024.
This means that the quick service restaurant (QSR) industry is experiencing a significant shift as artificial intelligence (AI) becomes an essential tool for streamlining operations to improve customer experience and address labor challenges. work, Pitfield said.
Brad Daffy, Partner, Intelligent Automation, AI & Low Code at KPMG, echoed this sentiment, pointing out that the rise of gen AI technologies has also brought AI into mainstream business conversations.
“I think what we’re seeing today is that these technologies – that we’re used to using in our personal lives – are entering the workplace, with the rise of platforms like Copilot from Microsoft, which is deployed as a desktop assistant. We’re seeing a continued push for these technologies to become our little digital assistants in the workplace,” Daffy said.
In the QSR sector, personalization and predictive analytics for inventory management are emerging as key areas where AI is delivering tangible results. Pitfield noted that 66% of recent statistics show that AI is used to analyze customer data and create personalized recommendations.
Additionally, 62% were about generating content marketing copy and product summaries, and 58% were about the customer service chatbot.
Daffy also highlighted how predictive and intelligent forecasting is used to inform critical business decisions.
“It’s the ability to leverage market data, population movements, demographics, building approvals and even the frequency of things like Uber drop-offs, that begins to inform predictions about where to open new sites, demand for goods, margin, etc.,” Daffy said.
While large QSRs like Starbucks are at the forefront of AI-driven personalization and operational efficiencies, Daffy said, smaller chains can also harness AI’s potential.
Pitfield added that AI tools like Copilot can help automate simple tasks like writing emails or analyzing customer feedback.
However, as AI is used in the QSR industry, concerns about job losses persist; but Pitfield and Daffy argue that AI can complement human work rather than replacing it.
“There are a lot of manual tasks in QSR that are exhausting,” said Pitfield, reflecting on his decade of experience working in QSR stores.
“So if we can find ways to make these tasks easier, we will give our team and our managers more time to also spend more time on the ground taking care of their customers,” he said. -she declared. “So I think it’s about how can we have that talent, focusing more on the hospitality elements rather than the mechanical operational elements.”
Daffy also highlighted the need for training and development as AI changes the nature of work.
“Training and development will be a major priority as we teach new and existing staff members how to use these technologies and how roles need to evolve and adapt to take advantage of AI,” he said. he declared.
In the future, AI’s ability to achieve new levels of efficiency and customer satisfaction will be essential for QSRs looking to stay competitive and Daffy said the key to increasing AI adoption is its ability to demonstrate success.
“And I encourage everyone to think about the use cases where you can start to pilot and scale the use of AI, and once you can start to demonstrate within the organization – here is the use cases, here are the benefits – it works,” he said.
