📤 AI Inventory for Small Biz

Today's Highlights

• Dustin - minimizing waste and maximizing profitability with AI forecasting
• Today's Infographic
• In Other News - a few interesting developments we're tracking

Dustin - AI Forecasting: Less Waste, More Profit

In the dynamic world of food and beverage, managing inventory and predicting sales accurately can make or break a business. Dustin, an AI-driven demand forecaster, offers a cutting-edge solution tailored for small and medium-sized businesses (SMBs) in this sector. By harnessing advanced technology, Dustin ensures optimal inventory levels, reduces waste, and enhances profitability.

Demand forecasting is the practice of predicting future demand for products based on historical data and market trends. For food and beverage SMBs, accurate demand forecasting is critical as it directly impacts inventory management and sales.

Many small business owners in the food and beverage sector face significant revenue losses, averaging around 10% monthly, due to inaccurate sales and inventory forecasts. This issue arises from the complexity of predicting customer demand, seasonal variations, and other market dynamics. Dustin ensures optimal inventory management by cross-referencing product purchases with monthly sales, preventing both excess stock and stockouts. By linking with the business's POS system, it tracks and analyzes real-time transactional data.

Its AI-driven approach provides accurate, data-backed forecasts, aiding informed decision-making. Efficient inventory management reduces waste, enabling profitability even with thin margins. Dustin also considers real-time events, menu changes, and discounts to offer tailored recommendations for the upcoming month, ensuring comprehensive analysis and precise forecasting for small business owners.

Dustin was founded in 2024 by Rahul Nalam and Vraj Shah.

🧐 Today's Infographic

In Other News

Method prevents an AI model from being overconfident about wrong answers

Thermometer, a new calibration technique tailored for large language models, can prevent LLMs from being overconfident or underconfident about their predictions. Developed at MIT and the MIT-IBM Watson AI Lab, it aims to help users know when a model should be trusted.

MIT News | Massachusetts Institute of TechnologyAdam Zewe | MIT News

Telford AI phone assistant to answer some council calls

Ask Tom will be able to listen to and answer customers who call the council with queries.

BBC News

More colleges are offering AI degrees — could they give job seekers an edge?

NBC News identified at least 13 major colleges and universities that now offer bachelor’s degrees in artificial intelligence.

NBC NewsVictoria Feng