Agrizy, a business-to-business platform in the agri-processing sector, has come up with a Gen AI (artificial intelligence) formulation studio to reduce the cost and timelines for new product development, its co-founder and CEO, Vicky Dodani, said.
“Once a company comes up with concept ideation, they may not have the required resources or marketing insights of a country in the customer segment. Our Gen AI formulation studio cuts the number of iterations required to launch a new product, and it reduces over 90 per cent of the options that need to be done manually,” he told businessline in an online interaction.
The studio has been developed in-house. For example, if someone wants to launch a lip balm, it can tell the exact ingredients, per-kg cost of composition, regulatory challenges in various geographies and total cost of production.
The studio has been trained on failure data to provide a “deterministic layer”, said the company’s co-founder. In the second stage, the product has to be taken to the research and development (R&D) lab to know various things, such as its shelf life and whether it can work.
Lab revamp
