AI-model helps predict performance before a new product launch within the FMCG-industry
80-90% of all new product launches fail within the fast-moving consumer goods industry in Sweden today. That means that 1-2 years after a launch most of the products have boomeranged off the shelf. A proof of concept with Coop showed that our AI-model could predict which products would succeed with an 85% accuracy rate. It is quite exciting that an AI-model could help revolutionize the product launch process in its whole.
Jacob is an entrepreneur with expertise within economic statistics and consumer behavior, who was previously recruited by Sony Music where he worked with predictions on which songs would hit, amongst other projects. He also created an app that won a price for the world’s best music app. 2,5 years ago he founded Binary Brains that predicts future sales within the commerce industry, aiming to help companies become more profitable and sustainable.