AI and The omega-3 sector
The omega-3 sector has traditionally been a strong market, bolstered by solid science and high consumer awareness. While this still holds true, the current market situation is challenging and there are questions about supply chain issues, how technologies like artificial intelligence (AI) will influence the future, and the best way to promote omega-3s to ensure future growth.
At GOED Exchange 2024: Collaborating Today for the Solutions of Tomorrow, which took place in Athens, Greece on January 23-25, 2024, experts addressed these topics and more. The biennial GOED Exchange conference offers a unique opportunity for the global omega-3 industry to come together to discuss timely industry trends and concerns, network with peers, and hear from key thought leaders. This year's agenda included topics ranging from artificial intelligence and the customer experience, issues to watch on the European packaging front, how e-commerce is evolving, the latest on sustainability and innovative ways to market the omega-3s of tomorrow.
Steven Van Belleghem, cofounder at Nexxworks, was a keynote speaker at the event. In his session, titled AI and the Customer Experience, Van Belleghem discussed the evolving landscape of AI and how businesses can elevate consumer relationships with an assist from artificial intelligence. Van Belleghem explored the tech transition and evolution to AI. “It went from digital first to mobile first and from mobile first to AI first,” he explained, adding: “When new technology pops up, we overestimate it in the beginning, and underestimate it as time goes on.”
AI Benefits: Creating Value for Customers
- Proactivity
- Solving Problems
- Hyper personalization
- Highest level of convenience
Van Belleghem suspects AI will allow for full personalization for consumers. He predicts consumers will talk to AI to help inform decisions, evolving from previous decision making purchasing habits of the internet search and newspaper. One example he noted was Tik Tok’s content personalization and how this would extend to personalization in all areas of life: medical assists, assists with selecting groceries, and more.
Working with AI
- AI and humans can work together.
- Technology is not a shortcut to consumer happiness.
- Superb customer experience is most important.
- Focus on the customer and create value as the key driver in success.
There are plenty of potential upside, but there can be negatives as well. Consequences include that AI filters could decide on which brands are shown. “A solution: invest more in branding,” advised Van Belleghem. “Branding is more important than ever to make it directly to consumers with these new and improved AI filters as the middleman between companies and consumers purchasing choices.” Another solution: “Try to create a strong direct relationship with the end user for the branding effect.” He explained that the customer experience and branding for the end user will become more important in a world that is AI first.
More from GOED Exchange
In addition to facilitating the exchange of ideas and insights through the educational agenda, the 2024 Exchange offered something new this year: networking offerings that bring attendees out of their comfort zone to forge new relationships with colleagues from around the world.
Learn more about GOED here.
