How is AI transforming the drinks industry?

AI is revolutionising the drinks industry by improving supply chain efficiency, enhancing product development, and enabling data-driven marketing strategies. It uses predictive analytics to optimise production processes, reduce waste, and forecast consumer demand. AI also helps in personalising product offerings based on consumer preferences and automating repetitive tasks, leading to increased productivity and operational efficiency.

What are common AI applications in the drinks sector?

Common applications include demand forecasting, inventory management, quality control, and product innovation. AI is used to analyse large datasets to identify trends, optimise production schedules, and develop new products that align with changing consumer tastes. In marketing, AI tools help craft personalised campaigns and predict consumer behaviour.

How can AI support sustainability in the drinks industry?

AI supports sustainability by optimising resource usage, reducing waste, and enhancing supply chain transparency. Through data analysis, AI can help companies monitor energy consumption, improve packaging design, and implement waste-reduction strategies. AI’s ability to streamline operations also minimises the environmental impact of production and logistics.

What are the challenges of AI adoption in the drinks industry?

Challenges include high implementation costs, the need for skilled personnel, and data privacy concerns. Integrating AI with existing systems can be complex, and maintaining data accuracy is crucial for effective AI outputs. Companies must also address ethical considerations related to automated decision-making.

What is the future of AI in the drinks industry?

The future of AI in the drinks industry involves more advanced applications like digital tasting, real-time consumer feedback analysis, and automated quality control. AI will continue to evolve, driving innovations in product development, personalised consumer experiences, and operational efficiency. As technology advances, AI will play a key role in helping brands remain competitive in an increasingly data-driven market.

Just Drinks

Finland’s Olvi ups profit forecast

Olvi, which has operations in Denmark, the Baltic states and Belarus, suggested moves to improve earnings are paying off.

Olvi Group, the Finland-based brewer and soft-drinks group, has raised its forecast for underlying operating profits.

The company behind Denmark’s Bryggeriet Vestfyen and Latvia’s Cesu Alus said today (14 October) it estimates its “adjusted operating result” will be €78-84m ($85.1-91.7m) in 2024.

In a brief statement, the listed group said: “The measures to improve profitability have enabled a better operating result than previously expected.”

In the first half of the year, Olvi reported a 0.1% rise in its net sales to €325.1m as price increases helped offset a 1.1% fall in volumes.

The Olvi and Sandels brewer first-half adjusted operating profit increased 8.8% to €42.2m amid a “slowdown” in cost inflation and “market-specific” price increases.

Olvi is set to report its third-quarter results on Wednesday. It added today: “There are uncertainties around the estimate, related to intensified competition, especially in the Baltics and Belarus exchange rate development.”

Olvi plc, Olvi Group’s parent company, holds 100% of Estonian brewery A. Le Coq, 99.88% of Latvian business Cesu Alus and 99.66% of Volfas Engelman in neighbouring Lithuania.

It also owns 96.4% of Denmark’s Bryggeriet Vestfyen and 96.4% of Belarusian brewery Lidskoe Pivo.

The group fully owns Finnish importer Servaali Oy and The Helsinki Distilling Company.