You’ll Soon Be Able to Track Food Prices With This New AI-Powered App

If there's one pain point that needs addressing in the everyday consumer experience, it's tracking prices of commodities even before we go to the grocery store. There are always more efficient ways of budgeting your money, after all.

Enter e-Presyo, an artificial intelligence (AI)-powered mobile application that could track prevailing prices in the markets. Currently in the works, the revamped version of the app is expected to replace the suggested retail price (SRP) bulletins regularly issued by the Department of Trade and Industry (DTI).

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Our own monitoring may lead us to find that the SRPs set by the government for more than 200 commodities often do not reflect the actual situation on the ground. From manufacturers and distributors to wholesalers and retailers, each of them may have varying prices despite guides in official bulletins, price caps, and similar messages from the state.

The DTI pointed out that this is exactly why e-Presyo will be run by AI: to ensure all the data encoded in the app are more accurate and reliable.

Consumers and retailers, as well as those who monitor market prices, should be able to input the prices of basic necessities in the app themselves (although updates may not be real time). They will also know where they can get the cheapest products or varieties.

According to the DTI, it is working to fast-track the launch of the new AI-powered e-Presyo app. As it stands, it's still in the software development phase.