Monkey launches AI demand forecasting system for foodservice operators... "Improved inventory management efficiency"

Monthly Kitchen Launches 'Monki AI Biz 2.0'
Provides Time-Based Menu Demand and Sales Forecasts

[Asia Economy Reporter Kim Bo-kyung] Digital dining platform 'Monki' announced on the 24th that it has launched a demand forecasting AI solution for dining business operators called 'Monki AI Biz 2.0.'

Monki AI Biz provides dining business operators within the Monki platform with menu demand and sales forecasts by time slot with up to 97% accuracy, enabling more efficient store operations. It reduces ingredient costs by 30%, lowering the burden of material expenses and improving inventory management and kitchen cooking efficiency.

Monki stated that it began development in January 2021, went through commercialization in September, and has now completed an update and enhancement process. A Monki representative said, "Monki AI continuously improves its prediction accuracy through real-time self-learning and self-development."

This solution is the result of the AI system collecting, analyzing, and forecasting sales data and environmental variables extracted from all Monki branches over more than a year. It provides dining business operators with expected sales for the next day, time-slot and menu-specific forecasts, and weekly forecast data. Sales trends can be viewed at a glance through graphs, enabling systematic and refined operations and management.

From the customer's perspective, it effectively resolves the inconvenience of waiting by allowing them to finish their meals without worrying about wait times.

Kim Hyuk-gyun, CEO of Monthly Kitchen, the operator of Monki, said, "Digitalization of the dining industry has become an essential factor, not a choice, and AI is rapidly advancing this modernization. Through the launch of Monki AI Biz 2.0, we will solve inventory and operational efficiency issues for dining business operators and enhance their competitiveness."

Monki operates 130 popular restaurant brands across seven locations in Seoul and the metropolitan area, including Gangnam and Bundang Humax branches. In December last year, it raised 23 billion KRW in Series B funding, bringing the total accumulated investment to 31.3 billion KRW.

This content was produced with the assistance of AI translation services.