{"id":1255404,"date":"2023-04-24T09:10:05","date_gmt":"2023-04-24T13:10:05","guid":{"rendered":"https:\/\/bugaluu.com\/news\/coke-exploring-ways-to-leverage-ai-because-every-company-needs-an-ai-strategy-now\/1255404\/"},"modified":"2023-04-24T09:10:05","modified_gmt":"2023-04-24T13:10:05","slug":"coke-exploring-ways-to-leverage-ai-because-every-company-needs-an-ai-strategy-now","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/coke-exploring-ways-to-leverage-ai-because-every-company-needs-an-ai-strategy-now\/1255404\/","title":{"rendered":"Coke ‘exploring ways to leverage AI’ (because every company needs an AI strategy now)"},"content":{"rendered":"
<\/a><\/div>\n

Even Coca-Cola (KO<\/a>) has an artificial intelligence strategy<\/a> now.\u00a0<\/p>\n

The beverage company\u2019s first quarter earnings release featured the usual components, showing growth in a new drink category and an increase in soft drink sales.<\/p>\n

But the company also dedicated a paragraph to highlighting its collaboration with \u201ccutting-edge technology\u201d platforms such as ChatGPT and DALL-E.<\/p>\n

\u201cThe company is also exploring ways to leverage AI to improve customer service and ordering as well as point-of-sale material creation in collaboration with its bottling partners,\u201d Coca-Cola said in its earnings release.<\/p>\n

Through the \u201cCreate Real Magic\u201d contest, Coca-Cola is allowing artists to download Coke art using Artificial Intelligence technology. The art could appear digital billboards in New York\u2019s Time Square and London\u2019s Piccadilly Circus.<\/figcaption>
Coca-Cola<\/div>\n<\/figure>\n

Coca-Cola isn\u2019t the only company that\u2019s become keenly interested in A.I. \u2014 or at least saying it is \u2014 since OpenAI set the craze into motion in late November with the launch of its ChatGPT chatbot.<\/a> Tech giants Microsoft (MSFT<\/a>) and Alphabet (GOOGL<\/a>) have detailed their own\u00a0<\/strong>strategies as have more unexpected players like\u00a0<\/strong>Keurig Dr.Pepper’s (KDP<\/a>) Snapple<\/a> and Chipotle<\/a> (CMG<\/a>).\u00a0\u00a0<\/p>\n

The A.I. surge has carried some stocks higher, too. At one point this year, C3.AI (AI<\/a>) stock rose nearly 200% year-to-date. Shares fell on Monday, though, as Wolfe Research downgraded the stock to Underperform from Peer Perform. Wolfe sees \u201csignificant risks\u201d to revenue growth for C3.AI, which helps businesses build AI solutions and applications.<\/p>\n

“Our analysis of C3.ai’s customer count suggests that either renegotiation of contract renewals is taking longer or that churn is increasing,” Wolfe research analyst Joshua Tilton wrote in a note to clients on Monday.<\/p>\n<\/p>\n

The A.I. stock surges are not in line with fundamentals and reminiscent of past instances of companies throwing out buzz words to appease eager investors. Take blockchain, for instance.<\/p>\n

In 2018, Amazon flaunted a partnership <\/a>to make \u201cblockchain more accessible and easier to use for customers.\u201d Despite positioning blockchain as a solution used within its popular Amazon Web Services at the time of the announcement, Amazon executives didn\u2019t mention the phrase \u201cblockchain\u201d once in the company\u2019s most recent earnings call in February.<\/p>\n

Then there’s Metaverse, the series of virtual worlds talked up by<\/a> Microsoft, Nvidia (NVDA<\/a>) and of course, Meta (META<\/a>). Proponents said it would be the next evolution of the internet, but so far that has been far from reality<\/a>.\u00a0<\/p>\n

And alongside the Metaverse came NFTs, or non-fungible tokens.\u00a0<\/strong>Coca-Cola, bought in then, too, launching an NFT collection in 2021 to build on its position as “one of the most collectible brands in the world.” Two years later, the company didn’t exactly hype up NFTs or its collectibles business on its earnings call.<\/p>\n

Baird markets strategist Michael Antonelli told Yahoo Finance Live that whether a company is investing in A.I. is the second most asked question from clients right now (behind the strength of the U.S. dolla<\/a>r).<\/p>\n

\u201cThere\u2019s no great pure play on it,\u201d Antonelli said. \u201cIt\u2019s still on the fringes of profit centers. It\u2019s still on the fringes of how we will use it\u2026I\u2019m sure we\u2019ll get a million ETFs and there\u2019ll be a million different marketing pitches around it.\u201d<\/p>\n

There are already 30 ETFs on the market related to A.I., according to ETFs.com.\u00a0<\/p>\n

Josh is a reporter for Yahoo Finance.<\/em><\/p>\n

Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/strong><\/a><\/p>\n

Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n

From:AOL<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Even Coca-Cola (KO) has an artificial intelligence strategy now.\u00a0 The beverage company\u2019s first quarter earnings release featured the usual components, showing growth in a new…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1255404","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1255404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1255404"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1255404\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1255404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1255404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1255404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}