Project description
AI for automatic sharing of product information
Fast-moving consumer goods, or FMCGs, are fast-sold products at affordable prices and represent a huge part of the market. However, producers and retailers need more data as well as a common structure for product information exchange to ameliorate market conditions. The EU-funded B2BMarketplace project proposes a peer-to-peer platform elaborated by Alkemics, a company specialised in AI and Big Data exchange. The platform connects producers and retailers, exchanges information that helps to launch the products and ameliorates the quality of the product content through the retailer's chain. The platform is based on exclusive algorithms that provide automatic sharing of product information by translating 'raw product data' into data compatible with the common systems used by the market.
Objective
Fast Moving Consumer Goods (FMCGs) are products sold quickly at relatively low prices, like foods, beverages, and toiletries. Most people consume FMCGs every day. Despite the huge size of this market, FMCG producers and retailers experience a number of challenges. First, the need for more product data is continuously growing due to legal and consumer expectations. Second, there is no commonly agreed structure for product information exchange between producers and retailers. Plus, current processes are inadequate for big data exchange, since they are mostly performed manually and, thus, more error-prone.
Alkemics has developed a Peer-to-Peer platform to overcome these challenges. B2BMarketplace is the first and unique global B2B marketplace for FMCGs. It connects retailers and producers to sell and buy FMCG goods. It enables producers to get their products discovered by retailers, streamline product data exchange in order to accelerate product launch, and increase the quality of the product content across the retailer ecosystem. At the core of B2BMarketplace lie Alkemics’ unique algorithms which allow the automated product information sharing by translating the inserted ‘raw product data’ into data that is compatible with the common systems used by the stakeholders of the marketplace.
Alkemics is a French start-up founded in 2011 and focused on Artificial Intelligence for Big Data exchange. The company is already serving two European key FMCG markets (France and UK) and working with several important retailers (Tesco, Carrefour) and multinational producers (Nestlé, Unilever). It is supported by the recognised GS1 Organisation, which develops global standards for business operations.
The proposed work in Phase 1 of the SME Instrument fits into Alkemics' overall plan to reach the market by contributing the financial resources needed to plan a fast, sound deployment of B2BMarketplace.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences artificial intelligence
- engineering and technology other engineering and technologies food technology
- natural sciences computer and information sciences data science big data
- natural sciences computer and information sciences data science data exchange
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
75009 PARIS
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.