From Fortune:

Too Good To Go is providing grocery stores with a new app to sell short-dated products through an AI-powered solution, which assists supermarkets in limiting retail food waste that is costing supermarkets approximately 1.6% of net sales. The solution flags products approaching expiration and suggests discount rates to move near-expired items.

Supermarkets currently miss out on a large revenue source from products on the brink of expiration. New AI technology prevents goods from being overlooked and aids in establishing discount rates. Supermarkets stand to benefit greatly from this new tool in reducing and preventing food waste

Too Good To Go’s new tool helps supermarkets track and discount near-expiring products, which has the potential to greatly reduce the materials that are thrown away in this industry. Supermarkets are also reliant on the significance of discounts to encourage food sales

Inflation is driving the demand for cheaper short-dated goods and is reaching the high price of shortcuts that are nearing their expiration dates. Therefore, supermarkets are trying to use discounts to drive their delinquent products, making use of these products prominently while also cutting waste costs.

With demand for cheaper, short-dated goods on the rise, supermarkets are eager to sell off these products to alleviate the financial toll of wasted food. This new AI software could be the answer that supermarkets are looking for to address these financial and product goals.

No matter where food waste occurs, the environmental impact is significant, as 30% of food produced globally goes to waste and contributes 8% to 10% of all greenhouse gas emissions. Thus, finding ways to eliminate waste within supermarkets is also a technology that has the potential to affect food waste on a global scale.

Read more: AI’s latest task is helping supermarkets safely unload soon-to-expire food