Season 4, Post 2: Food’s fascinating future
Food is a passion of your author, so much so that beyond the Future Trends Blog, he has been penning a restaurant review Blog for close on a decade. When food and future trends coincide, there is particular reason then for excitement. Feeding the planet sustainably is arguably the key priority for the world as we discussed in more detail last year, but other recent developments afoot highlight how food-tech is evolving in interesting directions.
Among the many product announcements at CES, the world’s largest consumer electronics show, which took place in Las Vegas last week (your author attended in 2017), one which caught our eye was from Beyond Honeycomb. This Korean start-up is developing a kitchen robot that learns to reproduce dishes cooked by top chefs from around the world. It almost sounds too good to be true. The system works by using sensors that acquire the molecular data of a dish while cooking. It then takes 48 hours for the robot to learn – via artificial intelligence – the skills necessary for replicating the dish. The food sensors apparently allow the robot to digitise the texture and taste of the original dish and then replicate it bottom-up. Your author is intrigued but will probably have to wait some time before trying his first Beyond Honeycomb dish. The larger prize that the company sees within its sights is the opportunity to potentially reconfigure commercial kitchens. A digital platform provided by Beyond Honeycomb might allow chefs to replicate their dishes up to three times faster than at present.
Technology will likely be increasingly instrumental in the food service industry, particularly in the light of currently rising costs. One executive who is a passionate believer, Brian Nicol, the Chairman and CEO of Mexican Chipotle Grill, highlighted in a recent interview its potential for yielding improvements. Chipotle is, for example, using vision technology to help it understand how many ingredients to prepare for meals. The system deploys machine learning and an analysis of previous demand patterns to minimise the risk either of running out of certain products or having wasted leftovers. Day-old guacamole doesn’t taste good. An unrelated area where tech can improvement outcomes in the restaurant industry is to use digital systems for scheduling job interviews and helping ensure worker safety. Chipotle is pioneering both.
Back to food proper and one final anecdote of particular note was that, as of 9 January, over half a million people globally had signed up to ‘Veganuary’, a month of committing to giving up meat and dairy. By comparison, the total figure in 2021 was 582,000 (more people typically sign up as the month goes on). It’s an indication of the direction of travel along the path to greater sustainability. All we need now then is robot chefs to prepare perfect quantities of top-quality vegan food with no waste…
13 January 2022
Alex Gunz, Fund Manager
Disclaimers
The document is provided for information purposes only and does not constitute investment advice or any recommendation to buy, or sell or otherwise transact in any investments. The document is not intended to be construed as investment research. The contents of this document are based upon sources of information which Heptagon Capital LLP believes to be reliable. However, except to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to the accuracy or completeness of this document or its contents and, Heptagon Capital LLP, its affiliate companies and its members, officers, employees, agents and advisors do not accept any liability or responsibility in respect of the information or any views expressed herein. Opinions expressed whether in general or in both on the performance of individual investments and in a wider economic context represent the views of the contributor at the time of preparation. Where this document provides forward-looking statements which are based on relevant reports, current opinions, expectations and projections, actual results could differ materially from those anticipated in such statements. All opinions and estimates included in the document are subject to change without notice and Heptagon Capital LLP is under no obligation to update or revise information contained in the document. Furthermore, Heptagon Capital LLP disclaims any liability for any loss, damage, costs or expenses (including direct, indirect, special and consequential) howsoever arising which any person may suffer or incur as a result of viewing or utilising any information included in this document.
The document is protected by copyright. The use of any trademarks and logos displayed in the document without Heptagon Capital LLP’s prior written consent is strictly prohibited. Information in the document must not be published or redistributed without Heptagon Capital LLP’s prior written consent.
Heptagon Capital LLP, 63 Brook Street, Mayfair, London W1K 4HS
tel +44 20 7070 1800
email [email protected]
Partnership No: OC307355 Registered in England and Wales Authorised & Regulated by the Financial Conduct Authority
Heptagon Capital Limited is licenced to conduct investment services by the Malta Financial Services Authority.
