AI Palette, a company that uses AI to help CPG brands anticipate consumer tastes ahead of market trends and better predict new product success throughout their lifecycle, announced today it was acquired by market research company GlobalData.
AI Palette launched within the last decade alongside a cohort of startups—including Analytical Flavor Systems, Tastewise, and Spoonshot—that began utilizing machine learning and big data analysis tools. These tools enabled CPG brands to move away from traditional product ideation and surveys, uncovering hidden insights more rapidly through AI. Like many similar startups, AI Palette started talking up their generative AI bona fides over the past couple of years.
“The integration of AI Palette supercharges our ability to help CPG brands innovate smarter and faster,” said Mike Danson, CEO of GlobalData Plc. “Together, we are setting a new standard for AI-driven intelligence in the consumer space.”
In some ways, this deal resembles Spoonshot’s acquisition a little over a year ago, when legacy market intelligence provider Target Research Group acquired the AI startup. GlobalData Plc, which places greater emphasis on pure data analytics than Target, is a company that has grown primarily through acquisition. From what I can see, AI Palette represents GlobalData’s first pure-play AI company deal.
With most major food-brand CTOs currently exploring—or being directed—to leverage AI, it seems likely that acquisitions of vertically specialized platforms will continue over the next 12-24 months. Consultancies and market intelligence providers will probably lead this trend as incorporating AI into intelligence toolsets becomes essential to maintaining relevance..
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