If you’re a New Yorker, you may be familiar with the impact of Adderall shortages that have been regularly occurring over the past few years, and with how frustrating it has been for people with ADHD to obtain their meds.
What’s worse is that the Adderall shortage, which began in October 2022, has expanded to affect other ADHD medications as well. It has gotten so bad that some patients report going without their medications for weeks or months, impacting their daily functioning and performance.
Korean company Impactive AI has developed an AI driven solution that could help pharmacies avoid similar shortages and keep patients content.
Impactive AI, founded in 2020, is transforming how businesses operate by shifting from reactive to proactive supply-chain strategies, through using advanced AI technology informed by deep understanding of how markets work.
At the heart of Impactive AI’s offerings is their proprietary AI prediction model, DeepFlow. This system covers the entire product lifecycle, from launch to discontinuation, providing businesses with invaluable insights to optimize their operations.
What sets Impactive AI apart is its focus on creating tangible returns for companies, from startups to well-established operations. While many businesses struggle to see concrete benefits from AI implementation, Impactive AI’s solutions are designed to directly improve profitability by enabling a pre-hoc approach to decision-making.
Employing 224 predictive models informed by many types of data, including ERP and environmental data, DeepFlow is 97.6% accurate in forecasting inventory needs and sales patterns, which is quite a bit better than its main competitors, Streamline, which boasts only a 64% accuracy in prediction, and Microsoft Azure, at 87%.
Led by CEO Doohee Chung, himself a PhD in technology management, the company boasts an all-PhD executive team with expertise in both AI technology and business applications. This combination of technical know-how and practical business acumen allows Impactive AI to deliver solutions that are not just technologically advanced, but also highly effective in real-world scenarios.
Impactive AI’s impact is already being felt across various sectors in South Korea. In a notable case, they helped a flavor supplier to food and perfume companies streamline their inventory management process. DeepFlow reduced the time required for their monthly inventory from 15 days to just 7 minutes per month, while also improving accuracy by 70-80%.
The company has also made inroads into the pharmaceutical industry. Hanmi Group’s Online Pharm recently contracted Impactive AI for their pharmaceutical ingredients demand forecasting and inventory management, showcasing the versatility of their predictive solutions.
Impactive AI’s innovative approach hasn’t gone unnoticed. The company has racked up plenty of recognition and numerous awards, including the South Korea AI Award sponsored by the Ministry of Science and Technology. They’ve also been selected for prestigious programs like the 2024 Deep Tech TIPS Program, further cementing their position as a leader in the AI industry.
For companies looking to harness the true power of AI and transform their operations from reactive to proactive, Impactive AI offers a compelling solution.
Sources: NBC News
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