The use of Artificial Intelligence (AI) in the AgriFood industry has been greatly increasing recent years. According to Markets&Markets, the Agriculture industry’s spending on AI technology is predicted to increase from $1bn in 2020 to $4bn in 2026. AI-based solutions have great potential to help Agrifood businesses become more efficient in their operations, make better trade decisions, and provide higher quality products faster. In lieu of such benefits, DiMuto has developed and incorporated AI technology into our Global Trade Solutions to help our customers scale greater heights.
Product Quality AI
Image: View of Product Quality AI on the DiMuto Platform
Firstly, DiMuto has created a Product Quality AI that helps suppliers deliver a consistent high quality product to their buyers. Agrifood businesses very familiar with carrying out thorough QC inspections on their products to determine the quality of the goods and the presence of any defects. However, this important process can be extremely time consuming within a business’ operations and the quality of the goods may be subjective across different audiences.
Using AI, QC Inspections can now be more efficiently and objectively done. DiMuto’s Product Quality AI is currently able to analyse fruit products in three critical aspects:
- Detecting ripeness based on surface colour of fruit
- Confirming fruit size based on length and width direction
- Number of products in a carton
This AI analysis is able to be instantly generated on the DiMuto platform when users capture and digitise images of their product onto the DiMuto system. Furthermore, it can also be applied onto a moving conveyer line that utilises the DiMuto Digital Asset Creation devices (DACKY).
Trade Health & Financing AI
Image: View of Trade Health & Financial AI Homepage on DiMuto Platform
Secondly, DiMuto Financial Services leverages AI to assess trade health and product quality for every trade transaction on our platform. Working with perishables in a digitally disconnected and data-opaque AgriFood industry is typically regarded as fraught with risks by financiers. In order to access this risk, banks and other financing platforms tend to rely on a business’ historical financial documents. However, such documents may not be reliable ways to judge the risk of a financing a company at that point in time, as not only are such documents able to be altered or forged, may not be able to paint an accurate picture of a business’ current operations due to historical data that is no longer relevant.
DiMuto uses AI to avoid such issues by providing Agrifood business and financiers with:
- Visibility of day-to-day operations
- A complete & accurate image of the financial & operational strength of the company
- Low-risk lending for financiers, opportunities for buyers/suppliers
Such analyses can be made from the real-time trade data of each trade that is captured on the DiMuto Platform. In combination with the Product Quality AI, DiMuto can generate a financial risk score for each trade and company that can be used for post-shipment financing opportunities. Thus, DiMuto’s Trade Health & Financing AI allows for financiers to enjoy deeper visibility and more robust assurance and for borrowers gain more accurate risk assessments and more flexible terms.
Image: View of Trade Health & Financial AI Screen on DiMuto Platform
At DiMuto, we understand the utility AI can have in empowering Agrifood business make better informed trade decisions to improve their operational efficiency, product quality, and business growth. With such seamless integration with other DiMuto features, we hope to make AI technology accessible and approachable to our customers to help foster a more resilient global Agrifood supply chain.