swiss foods maker nestle sas global chief executive mark schneider said adoption of ai artificial intelligence by its india unit is now being taken to world markets and that it has led to customising consumer choices and planning new launcheswe are using ai in india to assess multiple types of data that give insights down to a postal code and demographic level this level of customisation has benefitted us as well as our customers and consumers schneider said addressing shareholders at the companys annual general meeting late thursday in lausanne he said the company has now scaled this capability and rolled it out to several other markets worldwide stating that in each of these markets nestle is seeing tangible gains he said in his address that the maker of maggi noodles and nescafe coffee is proposing a basket of products targeted to stores in different neighbourhoods based on the ai insights advt nestle india which follows a calendar year said that it has launched more than 110 new products in the past seven years and that new products contribute 54 to the companys domestic sales the company schneider said is looking at turning digitalisation into a source of competitive advantage across its value chain in the sourcing of raw materials product development manufacturing operations sales pricing and distribution in its annual report for 2022 nestle had said that growth in india was being driven by key price points and increasing distribution in small shops the company gave the example of its munch chocolate brand in india which it said worked through affordable price point management the foods maker which follows a rurban ruralurban growth strategy expanded its direct distribution to 15 million outlets last calendar year the company said it increased its total direct and indirect distribution network to 51 million outlets in 2022 up from four million outlets previouslythe company said in a management commentary that it will follow penetrationled volume growth and that it is sharpening its geographic focus increasing distribution points and going deeper into smaller towns and citiesin 2022 nestles sales increased 148 yearonyear to 16790 crore aided by outofhome demand making a strong comeback by ratna bhushan et bureau published on apr 22 2023 at 0819 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app nestle nestle india distribution demand ai mark schneider nestle india schneider nestle homenewsnestle rolls out indian units ai model in world markets ceo mark schneider