ESB AI Technology Innovation Boosts Up To 40 Percent F&B Business Growth

Gunawan Woen, Co-founder and CEO of ESB Restaurant Technology (photo: dock. AC Ventures)

JAKARTA - Artificial Intelligence (AI) technology solutions are still the company's focus in all business sectors, including food and beverage (F&B), to increase revenue and productivity.

In an AC Ventures report entitled 'Harnessing the Power of (Gen)AI in Indonesian Financial Services', highlight how AI and GenAI are to increase financial inclusion and economic empowerment for the F&B business in Indonesia.

One of the outstanding AI solutions in the report is OLIN from ESB Restaurant Technology. The OLIN solution is said to be able to help the F&B business increase their income by up to 40 percent.

Gunawan Woen, Co-founder and CEO of ESB Restaurant Technology, said that OLIN is described as a female co-worker on the screen, allowing the F&B business to gain useful insight by asking simple questions, without the need to perform manual data analysis.

"We have achieved 90 percent accuracy in predicting sales. OLIN provides recommendations on the combination of menus, price strategies, promotions, fraud prevention, and also monitors overall business health," said Gunawan.

Furthermore, he believes that the use of OLIN has resulted in a significant increase in F&B business operations, which also contributes to financial inclusion in Indonesia.

Currently, Gunawan admits that ESB is developing a new credit assessment model to facilitate access to bank loans and working capital for many micro F&B businesses that were previously deemed unfit for loans by traditional financial institutions.

"Although we ourselves do not act as lenders, we facilitate relations between financial institutions and traders. We have identified high demand for supplier financing, which we address through our AI," concluded Gunawan.