Transforming sustainability through AI: Olam International partners with Canvass Analytics
14 Nov 2018 --- Canvass Analytics Inc. has signed an agreement with Olam International to utilize Artificial Intelligence (AI) as part of its strategy to find innovative and sustainable solutions to meet the growing demand for food, feed, fiber and fuel. Canvass Analytics offers an Artificial Intelligence (AI) enabled predictive analytics platform for the industrial Internet of Things (IoT).
Olam is one of the world’s largest agri-businesses, serving more than 22,000 customers worldwide. Its heritage lies in the origination and traditional supply chain management, sourcing agricultural ingredients and raw materials in the food and beverage, textile, wood, rubber and related industries.
KC Suresh, Managing Director & CEO, Grains at Olam International says: “AI is a powerful tool to help re-imagine global agriculture. The insights offered by data and analytics provide opportunities to transform the way we operate and to find new ways to address challenges across the agricultural value chains. By integrating emerging technologies into our business, we are driving greater efficiencies, enhancing the sustainability of our supply chains and offering more value to our customers.”
Speaking to FoodIngredientsFirst, Humera Malik, CEO of Canvass Analytics, explains: “Some of the initial projects will be looking at production processes to identify how we can optimize them to improve the quality of yield and reduce waste. Next in line, are projects to create energy efficiencies throughout different production processes and to optimize energy production through energy assets.”
“We are looking at applying AI across the board,” he adds. “This is part of the overall corporate objective to re-imagine global agriculture. The insights derived will help to transform how we operate, find new ways to drive greater efficiencies and offer more value to customers.”
According to Malik, the two main challenges of implementing AI for all businesses is the available data and the ability to define the problem statement.
Before embarking on new projects, there are four common questions which should be addressed:
• Do you have the process defined for leveraging AI?
• Do you have the metrics?
• Do you have the ability to collect data that feed into the metrics?
• Are you able to define what the outcome would be?
“If they are able to say yes to these questions, then they will be in the best position to achieve results from their AI projects,” states Malik.
“We are excited to be working with one of the world’s leaders in food and agriculture to help them transform the way food is sourced, produced and supplied. The potential for AI in the food and agricultural sector goes beyond operational improvements and the world’s population can benefit from better food quality, improved nutrition and sustainable agriculture that protects the environment,” he adds.
Funded by Google’s AI-fund, Gradient Ventures, Canvass Analytics provides an automated AI-powered analytics platform that helps its customers to improve quality, lower production costs and reduce their energy consumption. Canvass Analytics’ customers include Fortune 500 industrial companies across the automotive, metals & mining, renewables, oil and gas, food and agriculture industries.
Additional reporting by Lucy Gunn
