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Consumer goods companies such as L'Oréal, Nestlé, and Mondelez are leveraging artificial intelligence to accelerate and further develop new products. L'Oréal, for example, has been able to identify molecules that can be used in shampoo and cosmetic formulations four times faster. Meanwhile, AI has helped Mondelez create new recipes, such as gluten-free biscuits, and has increased efficiency in testing processes. These innovations come at a time when companies are under pressure to speed up innovation and reduce costs.
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