AI in Restaurants; Is It Really Profitable (Here is your Answer)

AI in Restaurants; Is It Really Profitable (Here is your Answer)

The restaurant industry is large, complicated and growing rapidly. On the other, it’s tough to make the restaurant successful as consumer tastes and restaurant formats are changing rapidly.

The Restaurant is a type of business where being a technophobe can not work. It is like letting your competitors moving ahead by you.
If you are confused regarding Artificial intelligence and looking for a simple guide which can solve your doubts about what is AI in Restaurants and how it uses, welcome you’re at the right place.

In this article, we will discuss everything you need to know about using artificial intelligence in restaurants and how AI is beneficial for restaurants in a very simple language.

What is AI (Artificial Intelligence)?

Artificial Intelligence (AI) refers to programs which are designed to perform a particular task by responding to real-time events. Because AI programs can change depending on their context, they tend to simulate according to human behaviour.

Growth of the AI market In India

Image result for ai market in india

AI for Restaurants –

AI is beyond robotics, one assumption that most of the restaurant owner make that AI means robots,
but the real value of AI and machine learning is its ability to help restaurant operators make better decisions about customer service.

AI-based software for restaurants streamlining operational and managerial tasks from ordering, staffing, inventory management to automating marketing activities.
It serves a truly transformative opportunity because it provides actionable support, not just insights.
AI can recognise trends using Big-data analytics much faster and better than humans.

Restaurant Technology helps restaurant owners to make a better decision & improve customer service.

Types of AI in Restaurants

Importance of Artificial Intelligence in the Restaurant industry

We all know, Restaurant industry is a dynamic industry. And on the other side, consumers’ choices about food and dining, are rapidly changing and largely influenced by their friends and companions, influencers and social media reviews.

To succeed in the business, one needs to understand the buying behaviour of customers in order to give them experience tailored according to the customers.
Where AI Helps to make future-oriented decisions based on real-time analytics.

For restaurants, balancing up with the trend and preferences requires unique marketing, innovative menus and personalised offerings. And AI helps with this very well.

Why Restaurants needs AI

When a starving customer walks into a restaurant, they’re looking for more than just a fast fill-up.
AI represents a truly transformative opportunity for restaurants because it can provide actionable recommendations, not just insights.  It identifies your customer far better and much faster which automatically reduces human efforts and improves customer service.

1. Customer Engagement

According to a report by hubwork, 73% of restaurants are ready to upgrade their technology and customers are too expecting high-tech personalised dining experience. AI-enabled marketing software helps restaurants to collect big data and use it to interact with the customer on an individual level. As AI helps to analyse customer preference which makes engaging customers easier.

2. Time-Saving 

Using AI solutions minimise the expense and burden associated with hiring and managing humans.  

You know the saying, “Time costs money”, and when you are in “Restaurant business” there never seems to be enough time. So here AI saves your time by automating numerous tasks provide valuable insights and reaching out to the customer at the right time without requiring much effort on your part.

3. Improves business Efficiency 

95% of restaurants agree that using restaurant technology such as POS, AI-Enabled Marketing Automation software, Digital Kiosk amazingly improved their business efficiency. If a restaurant accepts digital enhancements that are strategic and perfectly coordinated, it will lead to the advantage of getting in-depth big data, offering consistent & personalized customer experiences.

Implementing an AI solution gives the restaurant the flexibility to be available for the customers 24×7.

4. More reliable reporting

While running any kind of business, there is important to know where your business is heading. AI-powered reporting tools can make it happen with a few clicks. Tools like restaurant billing software can help a restaurant owner with this, automation tool like CRM provides marketing sales insights in details over a single click. 

AI linked to POS determines inventory usage which helps in stock control.

5. Personalise User experience 

AI plays a crucial role in helping restaurants with personalised marketing. It can do so by analyzing vast sets of information on past and present trends from various sub-sectors and across diverse demographics and geographies to offer solutions customized as per the specific needs of a business.

6. AI Perform well on Big Data

Big Data, refers to large volumes of structured and unstructured data, that an organization collects through a various platform like, Social media accounts, online profiles, social activity, product reviews, tagged interests, “liked” and shared content, loyalty programs, and CRM software that add potential data into the big data pool.

Big Data is too ‘Big’ to manage or extract.’ Artificial Intelligence (AI), Artificial Intelligence will automate the process of Big data analytics to fetch meaningful and sensible data for accurate decision and positive outcomes.

AI-Enabled cloud based marketing software for restaurants
Marketing Automation Software for Restaurants

Future of AI in Restaurants

In Restaurants, there are a large number of data that remain unused and as result restaurant owners failed to produce better ROI from the data. 

AI-Enabled software for restaurant businesses can help turn big data into insights, as well as present well-defined recommendations for business owners and managers to gain new business opportunities, increase customer retention in a restaurant, and enhance the overall level of satisfaction among their customers by giving them a personalised experience.

Let’s understand the future of AI in the restaurant industry with few stats:

1. 72% of hotel operators agree that AI-based systems that leverage customer preference and buying behaviour to make targeted dining support will be mainstream by 2025.

2. 60% of restaurant operators stated location planning using artificial intelligence would be mainstream by 2025.

3. According to an estimate in a study by tech giant Accenture, AI has the potential to add $957 billion, or 15% of current gross value added, to India’s economy by 2035″

Related Post: How Bingage AI-Enabled Marketing Automation Software works?

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