Food supply chains have been a target for counterfeiters and fraudsters for decades, and with food being one of the most cross-border traded products, there is always a high risk of diversions and tampering. According to estimates by IFIS, food fraud costs the world between 10 and 15 billion dollars annually. Considering how dire the issue of food fraud is, food industry stakeholders have over the years explored the use of various methods and technologies to mitigate the situation, and artificial intelligence (AI) seems to be one of the most effective applications thus far. Artificial Intelligence enables food supply chains to operate more efficiently, ensuring that the supply chain is not only transparent but also tamper-proof.
We have once again added another plaque to our shelves, and this time it is the Artificial Intelligence (AI) Awards under the auspices of Wealth & Finance International. Wealth & Finance International is an outfit which provides fund managers and private investors with up-to-date industry news across various investment sectors. Cypheme receiving an award from this dedicated finance industry player goes to show how diverse (industry wise) the usage of our solution is.
