P2PI Member Spotlight: Foodspace

A Q&A with Ayo Oshinaike, CEO and co-founder of the machine learning and AI technology company.
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Ayo Oshinaike

How does Foodspace utilize AI in its work?

OSHINAIKE: Foodspace uses Vision AI to digitize package label information and matches it to shopper-centric attributes for CPG brands to use for digital shelf discovery. Our in-house nutrition team has trained our AI with a rules-based approach using established nutrition theory and biochemical knowledge to create meaningful attributes.

Why is product data so important these days? 

OSHINAIKE: Product data is what allows CPG products to show up as they are intended to and everywhere they should. Today’s online grocery shoppers are exposed to an omnichannel experience, meaning their journey to getting products in a cart can start anywhere digitally. What’s more, shoppers are complex and have a wide variety of needs and preferences. In order for CPG brands, retailers and marketplaces to retain loyal customers, they’ll need complete, accurate and rich product data. This will ensure that all these organizations’ products can be found wherever shoppers are shopping online.

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How does your company plan to use its P2PI membership resources?

OSHINAIKE: We’re looking forward to diving into timely thought leadership produced by P2PI. Our team has a channel on instant-messaging platform Slack called #goodreads, where we share recent industry news. P2PI’s resources allow us to go deeper into the issues the industry is facing, but also stay in lockstep with where innovation is headed. Although we identify as a data company, at the end of the day we want to ensure that the services we provide will propel the CPG industry forward.

What is your current view of the CPG industry, and how can you help CPG brands?

OSHINAIKE: The CPG industry is one of the most innovative and exciting industries. I can think of nothing more than pure delight when I think of my favorite CPG products. The industry has tremendous potential with e-commerce, and Foodspace is the data partner brands need to ensure they find success across every commerce channel.