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Vending machines upgrade to AI, facial recognition, big data & IoT
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Wednesday, 02 November, 2022, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Vending machines are undergoing transformation. It will upgrade to AI, facial recognition, big data & IoT. The traditional look of vending machines has changed for the better and it has become unrecognisable. The way we buy snacks from vending machines will change in the future.
For starters, vending machines will offer some healthier food items, especially snacks and drinks vending machines. The current global customer is conscious of the impact of junk food on overall health and the demand for healthier food options. They are more willing to drink and eat food items from a healthy snack vending machine, which gives them an energy boost without compromising their health. In fact, several vending machines have already been open about the calorie intake of each food item they offer.
According to Allied Market Research, the global vending machine market is expected to reach $25.25 billion by 2027, growing at a CAGR of 6.7% from 2021 to 2027. The advent of the Internet of Things (IoT)-based vending machines for real-time data collection and technological developments such as voice recognition and interactive display systems have boosted the growth of the market.
Incorporation of artificial intelligence (AI) in vending machine industry
It was only a matter of time before AI, IoT, and machine learning would enter the food & beverage industry. AI has already revolutionized the music, finance, manufacturing, and healthcare industries. But now, it has taken the food and beverage industry by storm. The next-generation vending machines are perfect examples. The custom vending machines that various companies have launched come with new tech features that improve energy efficiency and increase sales. From options such as cashless payments to facial recognition technology, vending machines have changed drastically– and for the better. What’s more, the next-generation vending machines will not only offer food items on demand but also foresee customers’ needs and wants before they even approached the machine.
Tech-savvy vending machines have taken the technology further by integrating customers’ smartphones through AI-powered applications for payment transactions. The vending machines will operate the same way we shop online: we will scan through inventory, add to cart, and items are delivered. This same process and technology will be present in vending machines and customers only have to select and pay for their items through a connected app. For instance, Coca-Cola, a major market player in the food & beverage industry has announced to launch of mobile apps in New Zealand, Australia, and US that will be based on AI to run vending machine operations.
The second aspect when it comes to vending machines is payment technologies. The world is now using digital payments for every little purchase and vending machines will adopt online payment technologies to meet customer demands. Apple Pay and Google Wallet have already stepped into vending machine market to offer cashless payments. Some vending operators have already deployed such technology as customers demanded paying for their snacks with a simple tap.
Future of vending machines
The way vending machines will operate will change drastically in the coming years and the incorporation of AI is just the beginning. While some companies have been trying to incorporate AI and IoT into the vending machine, some market players have taken one step further by integrating facial recognition to transform transaction features. Although facial recognition technology had been introduced for vending machines a while ago, the development of a sophisticated, user-friendly vending machine took its time.
In the future, vending machines will have a dynamic interface, facial recognition technology, interactive online services, and a touchscreen monitor that uses a motion sensor to detect customers as they pass by. Moreover, the vending machine will have a high-end camera to recognize frequent customers and big data at the back end to monitor their usual choices. Moreover, the machine will offer a personalized menu based on the choices and purchase history of a customer.
Apart from this, the future of vending machines will involve remote management due to its benefits. Companies can monitor their vending machine and schedule repair after running diagnostics remotely. Moreover, companies can turn off their machines remotely for energy efficiency. Once the vending machine comes with interactive online services, customers will get a far richer experience.
All in all, vending machines are about engaging customers and offering them unusual products. Considering the health consciousness across the globe and the adoption of vegan foods, vending machines will have diverse products to offer. For years, vending machines are considered a last resort and not a healthy choice at lunch. However, this image is bound to change in the coming years as technology takes the front seat.
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