Chapter 7: Applying AI for Innovation – Restaurants Deep Dive
The restaurant industry is notoriously difficult. It's a highly competitive space with slim profit margins, and these challenges have only been exacerbated during the COVID-19 pandemic, in which restaurants are subject to more stringent guidelines than ever before.
The average cost of opening a leased restaurant in the US is $275,000, and only about 20% of new restaurants survive past their first five years. This means that there are many failures, but also many opportunities for those willing to take risks and try new things.
In this chapter, we'll discuss how artificial intelligence (AI) can help overcome some of these challenges. We'll look at how AI can be used to improve operations and increase revenue, all while reducing costs and increasing profits. We'll also discuss how AI can be used to create more engaging experiences for guests in the restaurant industry.
In this chapter, we...
