Fulcrum Digital Inc. which provides digital solutions to customers, said it would invest in Culinary Digital, it’s food technology business to help its clients to reduce cost with the deployment of solutions based on Artificial Intelligence (AI) and data technologies.
“We will invest in Culinary Digital to further strengthen our growth in that area,” said Rajesh Sinha, Founder and Chairman, Fulcrum Digital.
He said the company was doubling down on AI and data technologies to help clients assess their data maturity and take it to the next level to monetise it.
To support this, the company has created its own platform called FulcrumOne.ai. “Many companies can create their own AI platform, but they can also use ours,” he said.
For visualisation of the data, the company is helping with technologies such as virtual reality, computer visioning, and edge AI so that clients can present the data in an easy-to-understand way for consumers.
“Therefore, we are also doubling down on the experience layer. When it comes to data monetisation with FulcrumOne.ai, augmented reality, virtual reality, and computer visioning are on the creative side,” he said.
Additionally, it is working on maturing its cloud strategy and strengthening cybersecurity, Mr. Sinha said.
He said the company was seeing “hockey stick growth” in its food technology business which is catering to hotels, hospitals, assisted living segment, schools, colleges, where millions of plates are getting distributed.
“We are using AI technologies to predict what kind of real-time inventories are needed in each kitchen, so that fresh food can be delivered at the right time, which also minimises wastage,” he said.
“We are also using AI technologies to track what kind of produce is available locally in the market, so that kitchens and companies do not have to import food from outside the country thus reducing carbon emissions,” he said.
If food manufacturers can optimise their cost of purchasing through AI and a good data platform, their cost of production will be lower, he emphasised. He said FulcrumOne.ai platform for real-time inventory management and food wastage can help reduce cost by 4 to 10%.
While the U.S. market is the biggest for the company right now, it has realised that India was growing faster for it now.
“The market is getting more mature in India. Even schools and airline companies are adopting our product. Additionally, we are getting interest from entertainment companies, those into theatre business looking to bring better experience for customers,” he said. He said the company’s focus would be on the Indian market.
“The Indian market is very large for us with a population of 1.3 billion. At least 500 million people are in big cities where they consume food. If we can capture even 5% of that market for our product, we will experience significant growth,” he said.
