Reducing Hunger

Summary: PhysarAI integrates with inventory and point-of-sale systems. It anticipates when unsold food is likely to go to waste. It marks food for donation. Store managers can override recommendations of the system as it arranges for local charities to pick up the approved donations. The system creates the documentation the store needs to take additional tax deductions.

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Right now, more than 30% of all food produced in the U.S. doesn't get sold or eaten, showing a huge potential for technologies that can tackle this waste early on. Each year, restaurants alone spend $162 billion in costs related to food waste. Using AI to manage and cut down this waste could completely change the game.

 

PhysarAI can tackle the inefficiencies in our food distribution system by predicting and preventing waste before it happens. It figures out when food is likely to be wasted, arranges for it to be donated, and helps suppliers get tax deductions for these donations. Current solutions mostly try to optimize inventory by predicting demand, but predicting market demand perfectly is really tough. PhysarAI can offer a smarter way to handle excess food by turning potential waste into donations and tax benefits, which is especially financially advantageous for food producers, retailers, and other players in the food sector.

 

One of the big benefits of PhysarAI is how it can affect the bottom line, especially for grocery stores where profits are usually slim. By using our technology, large food retailers could see their profit margins on perishable goods jump by up to 81% based on our estimates of tax deductions for rescued food. We estimate that the U.S. food industry misses out on about $85 billion in potential tax deductions every year. Our technology can help businesses document their donations and waste reduction efforts effectively, allowing them to tap into these significant financial benefits. We can calculate that a typical grocery store using PhysarAI could save 50 tons of food each year, which also cuts down on 20 tons of carbon dioxide emissions per store annually, helping reduce environmental impact and waste going to landfills by about 30%.

 

By improving how food is distributed and cutting down on waste at the retail level, this technology not only meets the sustainability goals of businesses but also opens up huge market opportunities across the food retail industry.