Artificial intelligence (AI) is disrupting every industry. Every company today is finding ways to tap into the potential of AI to extract the best out of their business. One of the companies at the forefront, driving AI innovation is Sydney-based Hivery.
Founded in 2015, Hivery is an artificial intelligence (AI) company that focuses on helping companies generate a return on their retail space investment through AI-powered solutions in price learning, space rationalization, effective promotions, and product recommendations.
The Hivery Story
A hackathon brought together Franki Chamaki, Jason Hosking, Charles Gretton, Matthew Robards, and Menkes van den Briel. These were the people behind the idea of Hivery. The co-founders Franki Chamaki and Jason Hosking were part of Coca Cola’s first accelerator. They needed to come up with a new business model from a startup perspective which would have Coca Cola’s backing. They decided to call it Hivery. Hivery engineered an AI platform and expanded its operations to New Zealand and the United States. With its innovation, Hivery was poised to help retail businesses through meaningful data.
Central to Hivery’s business is its AI-powered technology platform. The Hivery platform was built initially in 2014 as an experiment to be carried out on dozens of vending machines in Newcastle, Australia. Now, the platform has developed into a data-driven platform which is used to optimize the scheduling of promotions, and eliciting meaningful customer segments on the back of e-commerce platforms.
The process is simple as Hivery combines the deep data science with human-centered design. To optimize the business potential of their client’s business Hivery follows three steps:
Vending Machines can think better with Hivery
Let’s look at what Hivery started out their AI expertise with. The problem they sought to solve at the beginning was product optimal replenishment in the vending machines. The company helped AI think differently so that retailers could stack their vending machines better to make additional profit. They gave recommendations to CCA and CCA executed them in market. The run on 60 machines showed a 15% increase in sales and 18% reduction in re-stock visits.
Today, Hivery has moved on to retail outlets and channels to address the same problem of optimal replenishment at store and product level. The company believes that this space is challenging and costs retailers and suppliers $400 billion in lost sales per year. Vending Analytics is the solution to solve the existing vending machine management system issues. The software generates recommendations on how to maximize sales and minimize stock outs. Plus, businesses can expect ROI within six weeks of implementation of the AI-driven recommendations.
The AI-company to work with
Hivery is a team of talented innovators and problem-solvers. With its workforce distributed over Australia, Japan and the US, the company is diversity inclusive. The internationally diverse team comprises of business development executives, designers, programmers, architects, engineers and scientist. The company also focuses on something that the biggest brands like Apple, Google and Coca Cola bet on – Personal Brand Equity (PBE). While the companies carve a premium marketplace for themselves by doing this, Hivery likes to do this for its employees in the labor market.
At Hivery, employees are working on personal mastery and not being pigeonholed. The company helps build the Personal Brand Equity of its workforce to be the best in their field and be the best options in the market.
Meet the Co-Founder
Jason Hosking, CEO and Co-Founder
As the leader of Hivery, Mr. Hosking is responsible for the company’s vision, strategy and growth. Before Hivery, he was the Founding Director of Red Garage Ventures which is backed by Coca Cola. He was one of the founding members of Coca Cola’s first accelerator. He has also served Accenture as a Strategy Consultant.
He has a MBA in International Business from the University of Technology, Sydney.
-In October, Hivery was awarded the Export Council of Australia’s Technology and Innovation Award for 2019
-Last year, Hivery was named on Deloitte’s Technology Fast 500TM Asia Pacific
“HIVERY is an artificial intelligence company focused on helping companies generate a Return on Retail Space Investment through AI-backed smarts in product recommendations, price learning, space rationalization, and effective promotions.”
“Data Has A Better Idea® is HIVERY’s philosophy on what data has to offer to the world. It augments human intelligence in ways never before possible before, and through our products we allow data to have its own voice heard.”
“Our mission at HIVERY is to “shake up organizations around the world by transforming data into actions that drive profit.” We do this by combining deep data science expertise with human-centered design.”