The restaurant industry is evolving quickly as disruptive new business models like food trucks, pop-ups and ghost restaurants take a growing share of approximately $800 billion in total restaurant sales in the U.S. Last year, USB equity analysts projected that online food ordering sales will grow from $35 billion to $365 billion by 2030, an enormous increase.
That’s a huge opportunity, but it also represents a daunting challenge for traditional restaurateurs, who may feel whipsawed by sector-transforming trends. Many traditional operators are wondering how they can succeed in a competitive industry that is evolving faster than ever before. New artificial intelligence (AI) tools can be the answer.
Forget about robots racing through the front of the house to fill coffee cups and water glasses. The real value of AI and machine learning in the restaurant business is its ability to help restaurant operators gain control over trends (both in food service and ingredients), deliver better experiences to guests, and improve convenience and operations overall.