PALO ALTO, Calif.--(BUSINESS WIRE)--SymphonyAI, a leader in predictive and generative enterprise AI SaaS applications, delivered rapid growth in its retail CPG vertical in 2023. Annual recurring revenue in the retail CPG vertical surged more than 30% in 2023, significantly bolstered by acquiring key retail and CPG customers such as Marks and Spencer, Save Mart, Coca-Cola Europacific Partners, Calsun, Save-A-Lot, and Southern Co-op and Scotmid. The growth also reflects deepening strategic muti-year relationships major industry leaders including Metro Digital GmbH, Rimi Baltic, Intermarché, and REMA 1000.
This growth is primarily attributed to innovative AI-driven products and advanced AI models in retail and CPG. Among the standout offerings of 2023, which will be showcased at NRF 2024 from Jan. 14-16 in booth #1441 at the Jacob K. Javits Convention Center in New York City, are:
- CINDE Gen AI platform, providing customer-centric, supply chain-centric, and shelf-centric insights for retailers and CPG companies.
- The SymphonyAI Category Manager Copilot, using tuned, relevant generative AI to enrich and speed high-impact decision making.
- Innovation in generative AI for the supply chain with a Demand Planner copilot featuring Demand Forecast AI.
- Advanced Store and Shelf Intelligence solutions tailored for retailers and CPG.
- Revolutionary Assortment and Space GenAI products, optimizing assortment and enhancing space management.
Retailers and CPGs attending the NRF event can request a private meeting and demo with SymphonyAI experts.
SymphonyAI Retail CPG President Manish Choudhary said, “2023 marked a year of extraordinary growth and global expansion for our team. We're now proudly serving hundreds of the leading global retailers and CPGs and have introduced cutting-edge predictive and generative AI copilots. Our innovative approach has attracted 20 of the top global 30 retailers as clients, a testament to our leadership in the industry. We are at the forefront of revolutionizing retail with customer-centric, store-centric, and shelf-centric solutions, from assortment optimization to advanced demand forecasting and replenishment strategies. Our integrated platform delivers faster time to value and unprecedented returns for retailers, setting new benchmarks in the industry. In 2023, we not only grew but also redefined what's possible in retail AI.”
“Serving our largest vertical, the SymphonyAI retail CPG team’s success in 2023 was key to the impressive momentum across SymphonyAI as a whole, and we all remain energized and focused on even greater growth and success ahead,” said Sanjay Dhawan, CEO of SymphonyAI. “Our powerful AI solutions today serve 13 of the top 15 retailers globally, and we look forward to continuing rapid expansion in 2024 with new customer acquisition as well as expansion of relationships with existing customers. We are successfully positioned for both near-term and long-term growth across the business as we aggressively invest in leading predictive and generative AI to expand our markets in retail, financial services, industrial, enterprise IT systems management and media.”
About SymphonyAI
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to more than 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani. Learn more at www.symphonyai.com
