Coca Cola has increased its investment in advertising, spending more than four billion dollars in recent years.
Bain&Company is collaborating with OpenAI to embed AI into its clients’ operations and support changes needed to improve the technology.
Coca Cola Company thinks to take advantage of technology in the best way, since his idea is to work hand in hand with the tools of Open AI.
Open AI and the consultant Bain&Company have established an agreement to provide more complete services to their customers through the use of artificial intelligence (AI) and the first brand to take advantage of this alliance has been Coca-Cola Company that seeks to boost its advertising strategies with technology.
It is evident that with the advent of new technologies, companies take the opportunity to use this intelligence in their favor, it has been seen that ChatGPT powered by technology company Open AI has had remarkable growth in recent months, which is why several companies have chosen to develop their own intelligence and thus compete with the demands of the market today.
The Coca Cola Company in the market
It is well known that Coke–Line is one of the most valuable beverage brands globally, and part of its success is largely due to its advertising, since this brand stands out for being creative in this aspect, as well as touching the emotions of consumers, since its Christmas campaigns are among the most recognized.
The firm has consistently been ranked the top soft drink brand worldwide, with a global brand value of more than $74 billion. Other brands of soft drinks manufactured and sold by the Coca-Cola Company are Diet cokeSprite and Fanta.
According to Statista, during the last few years, Coca-Cola’s revenues Company they have seen fluctuations around the world, reaching nearly $40 billion in their last fiscal year. The majority of the company’s revenues come from North America, accounting for nearly a third of total revenue. income and becoming its most profitable operating segment by far. The investment in bottling is the second most important source of income for the company.
To maintain its high revenue, the company has increased its investment in advertisingspending more than four billion dollars in recent years.
Coca Cola will boost its advertising campaigns with OpenAI tools
Bain&Company has announced a global services alliance with OpenAI, the technology and research company behind today’s most recognized systems such as AI ChatGPT, DALL E and Codex, which are changing the way people communicate and create.
The company Open AI is expanding its reach and entering a new line of business: advertising. The company has taken a very important step, since it will work hand in hand with one of the most valuable brands in the world; Coca-Cola, which has already announced that it is using AI to define advertising strategies. the technology of Open AI can help significantly to improve the personalization of ads.
The consultant itself has been in charge of giving details through a release:
“We are excited to unleash the next generation of creativity offered by this rapidly emerging technology.” “We see opportunities to improve our marketing through cutting-edge artificial intelligence, along with exploring ways to improve our operations and business capabilities,” said James Quincey, Chairman and CEO of The Coca-Cola Company.
Coca-Cola has reached an agreement with management consultancy Bain & Co. to introduce artificial intelligence (AI) tools, including ChatGPT, DALL-E, a digital image generator, and Codex, a programming model, to be supplied by OpenAI company. pic.twitter.com/cjHi9T2pwB
– Radio Picosito Xalapa (@XalapaNacional) February 27, 2023
Open AI has taken a very important step, because now it has a new line of business: the advertisingand he has done it with the brand that stands out for being the best in this matter, Coke Line which will undoubtedly be the pioneer in this, although it is expected that other brands will soon join in working hand in hand with the AIsince this technology is a great support to promote the campaigns, it is also expected that PepsiCo take action as you won’t let your biggest opponent outrun you.
PepsiCo He has highlighted that he works hand in hand in his day to day with the help of AI, which helps to optimize certain processes such as, organize data and use it, improve human capabilities, achieve sustainability goals, etc.
“Artificial intelligence has changed the way we interact with almost any company,” he said. Athina Kanioura, PepsiCo Global Chief Strategy Officer and Transformation Officer.
Although the AIis part of the processes of several companies, Coca Cola is the first brand to use this intelligence to boost its advertising.
Now read:
Breastfeeding is everyone’s responsibility, it is urgent to improve the conditions that favor it
Pepsi launches Sprite-type soft drink and copy of the classic color and word Coca-Cola
Apple conquers generation Z with its iPhone (and goes for Samsung)