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HIVERY is proud to be shortlisted for the World Retail Awards this year

Aug 22, 2020 | By

HIVERY

The 14th World Retail Awards aim to put a spotlight on many examples of innovation, creativity and world-class retailing. The retail industry is embracing a rapid transformation in the digital age; and we are excited to be shortlisted for the "The Retail Technology Game-Changer" category. This is a strong validation of our hard work over the years. The category recognises technology companies that are inventing new solutions to re-shape the industry for the better. At HIVERY, we are helping consumer packaged goods (CPGs) companies and retailers prevail in an era of big data, complex merchandising rules, and AI, supporting their shoppers and employees in the process. Ultimately, HIVERY’s AI-driven recommendations are about allocating our planet's resources more optimally. Last year's winners included METRO GMBH, The Dubai Mall, Afterpay (category winner), and Nike, to name a few. HIVERY is honored to be amongst great brands. Learn more about the World Retail Congress and the Awards
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Aussie AI startup HIVERY secures $8 million for tech telling retailers what to stock
Aug 11, 2020 | By

Stephanie Palmer-Derrien

Aussie AI startup HIVERY has raised $8 million in Series A funding, led by Blackbird, as it makes a grab for a global opportunity helping retailers stock the products consumers really want. Founded in 2015 and backed by drinks giant Coca Cola, HIVERY uses AI to inform retailers which products should be placed where, and how much they’re likely to shift. Read more
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HIVERY Exports AI solutions to the world
Nov 21, 2019 | By

Alison Donnellan

The data economy is making new demands of Australia’s, and indeed the world’s, business models, with rapid advances and availability of technology redefining markets and reshaping industries. AI is already helping business owners better understand their customers, supply chains and emerging opportunities. There are numerous companies (large and small) using predictive analytics and machine learning to analyse their data.  One company that applies AI-powered solutions to help retailers generate a return on retail space investment is HIVERY, a big-data start-up using cutting-edge AI tech to inform product recommendations, price learning, space rationalisation, and promotions. Founded in 2015 and spun out of CSIRO’s Data61 the same year, HIVERY uses  cloud-based AI-powered solution based on machine learning to gather and convert data findings into easy-to-action measures. From small experiments with dozens of vending machines in Newcastle Australia, to counting Coca-Cola as a client and exporting five products globally, HIVERY have expertly leveraged the power of AI and machine learning to grow and expand their business. How it works Retailers need to know which products to stock, how much of that product to stock, and how to price/promote it all in the most cost-effective way in different locations and markets. “Take Coca-Cola – they have 500 brands and around 3,000 beverage types or SKUs (stock-keeping unit, most often a scannable barcode printed on product labels),” explains HIVERY COO and co-founder, Franki Chamaki.  “Coke in a can, Coke in plastic bottles and even different variations of Coke: Coke Diet, Coke Cherry and not to mention Coke in 200ML, 250ML, 1.5 Litre, etc. How do you determine what SKU should be placed in a specific outlet? What is the best? Optimal space is just a derivative of the right assortment and the right price/promotion. In order to have optimal space, you need to work out what optimal SKU/assortment and as well as price/promotion. This is what we solve.” The role of AI and Machine Learning  Self-learning algorithmic models that use AI and machine learning provide the mechanics behind HIVERY’s unique product ranking method, while the operations research element (the application of advanced analytical methods to help make better decisions) determines how much of the recommended product should be supplied.  This process also simultaneously incorporates the specific requirements and rules distinctive to individual businesses.  The same methodology can be applied to vending machines. “It takes a vending planner around 45 minutes to optimise one vending machine, and that’s just space, not assortment,” says Chamaki.  “With HIVERY’s solution, this is done seconds and we are able to optimise for both space and assortment while incorporating merchandising rules all simultaneously in one click of a button. Literally one button.”  AI can be used in any business and any industry, says Chamaki. “It has the potential to create new competitive advantages provided the goals are well defined. AI is a general-purpose technology, meaning it can be leveraged by any entity, just like the internet or electricity before.”  The Results In four years, HIVERY has grown their product suite from one to five, have four international offices (Sydney, Japan, USA, and Mexico), and count The Coca-Cola Company, Walmart, Red Bull, Diageo and TRIAL Co as clients.  They recently won the Export Council of Australia’s Technology and Innovation Award, Deloitte’s Top 500 Technology Award (2018), Business Chamber’s Excellence Export (2018), and are representing New South Wales in the 57th Australia Export Awards.  Over the course of the next four years, HIVERY plans to continue scaling their AI and operational research products, with an outlook to generate US$20 million in recurring revenue.  HIVERY COO Franki Chamaki at Export Awards 2019, where HIVERY won Export Council of Australia’s Technology and Innovation Award CSIRO’s Data61  Chamaki credits CSIRO’s Data61 with a critical role in fostering HIVERY, lending specialised knowledge in AI and skills to develop unique intellectual property, acquire talent, and access grants.  “Our recent product in the trade promotion space was actually co-developed with Data61’s research assistance. Here, we needed to demonstrate to our client that we could generate a more profitable promotional schedule, observing a number of constraints.  A Data61 researcher worked with us in developing a unique prediction model to produce an optimised promotional schedule. The promotional schedule generated results that are 40 percent better than the current business method,” explains Chamaki.  “Given over 80 percent revenue of most consumer-packaged foods revenue comes for trade channels like supermarkets, any improvement can generate significant commercial benefits and competitive advantages.”  AI, ML and data science revolutionising industry According to Chamaki, AI technology has the ability to reshape and optimise not just Australia’s retail industry, but industry in general. “It’s a general-purpose technology, hence it will impact all and every aspect of personal life, society and industry just as electricity or the internet did.”  Visit Algorithm.data61.csiro.au
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HIVERY Exports AI solutions to the world
Oct 21, 2019 | By

Alison Donnellan, Data61

HIVERY utilises cutting edge artificial intelligence (AI) technology to provide key product insights to retailers, including stock recommendations, price learning, space optimisation and more.From small experiments with dozens of vending machines in Newcastle Australia in 2014, to counting Coca-Cola as a client and exporting five products globally, HIVERY have expertly leveraged the power of AI and machine learning to grow and expand their business... Read more
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HIVERY Curate mentioned on Gartner's Market Guide for Advanced Retail Space Management Applications
May 15, 2019 | By

Robert Hetu, Gartner

Retail’s changing dynamics demand planning for the required retail selling space, not the available space. New applications deliver constant assortment editing for new products and near-real-time updates. Retail CIOs can use this research to understand current trends and identify vendors. HIVERY Curate mentioned in the analysis. Access report (account access required)
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Operators Explain How AI Boosts Efficiencies And Improves Profits At NAMA Show
May 02, 2019 | By

Jeff Adair, Vending Connections

Artificial intelligence (AI) gives companies and organizations the ability to make use of vast amounts of data to improve operational efficiencies and drive top line growth. Given the capital intensive and detail intensive nature of vending, it stands to reason that AI brings an invaluable tool to the table. While AI is finding application in a wide range of industries, Australia based HIVERY has recognized the benefits AI can bring to vending and developed a vending focused package called Vending Analytics. For the second year in a row, the NAMA show at the Las Vegas Convention Center featured a presentation on how the HIVERY AI tool has made vending operations more efficient and improved profitability. Read More.
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ECA announces 2018 Premier's NSW Export Awards finalists
Sep 16, 2018 | By

Kristen Mulligan, The Export Council of Australia

The Export Awards celebrate NSW business excellence in international trade and recognise exporters’ contribution to the NSW economy. HIVERY digital technologies finalist. Read more.
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NSW Business Chamber Awards 2019 winners
Jul 31, 2018 | By

NSW Business Chamber

Last weekend HIVERY won Excellence in Export nomination at Sydney City Regional Business Chamber Awards. HIVERY is to compete at the State Awards this coming November. Read More.
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Artificial Intelligence Delivers Sales And Service Improvement For Coca Cola Vending Machines
Jun 24, 2018 | By

Jeff Adair, Vending Connections

Reyes Coca Cola Bottling, based in Irvine, Calif., improved its full line vending profitability by deploying an artificial intelligence (AI) tool. Company representatives gave an overview during the recent NAMA show at the Las Vegas Convention Center. Read More
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