Caspeco is investing in artificial intelligence, initially helping customers in the hospitality industry to reduce staffing costs by forecasting demand using intelligent forecasting in a new partnership with Binary Brains.

"We firmly believe that AI will play a significant role in the future in streamlining and optimising our customers' operations in the best possible way. For this reason, it is particularly exciting to announce our partnership with Binary Brains, a leading AI company in Sweden. For quite some time, we have been researching together the field of AI and what its importance could mean for the hospitality industry. Very soon we will launch AI forecasting in our systems which we are both proud and excited about", says Markus Ganev, Sales and Marketing Manager.

Predicting daily sales based on receipt data alone will soon be a thing of the past. At least for Caspeco's restaurant customers, who will receive forecasts based on a combination of internal and external data, such as local events, dates, weather and more. By integrating AI-based predictions into the staff management system, selected restaurants can more accurately adjust scheduling based on changing demand.

"We saw early on that this collaboration would be a good partnership for both parties, as Caspeco has long been at the forefront of analytics while we have a vision to spread AI to industries that do not have the ability to build their own departments with AI expertise. Thanks to Caspeco, we can jointly help the restaurant industry increase profitability more efficiently while being part of their digitalization journey by giving them access to new technologies and data that affect their demand, but are impossible to access without AI", says Anders Montén, Account Manager Binary Brains.

Working with AI predictions in operations also enables a more sustainable industry. The challenge in this digitalisation development is that there are few data analysts with AI skills in Sweden, and those that do exist are expensive. Few companies in the restaurant industry can afford to hire an AI department and thus take advantage of the technological developments. Democratising AI through synergy solutions and partnerships is therefore important for the whole industry.