Why Coca-Cola & other top companies keep using AI

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At Web Summit in Portugal, people wouldn’t stop talking about AI, but … is it making our life better?

The biggest US-listed companies keep talking about artificial intelligence. But other than the “fear of missing out”, few appear to be able to describe how the technology is changing their businesses for the better.

That is the conclusion of a Financial Times analysis of hundreds of corporate filings and executive transcripts at S&P 500 companies last year, providing one of the most comprehensive insights yet into how the AI wave is rippling through American industry.

Big Tech giants such as Microsoft, Alphabet, Amazon and Meta have regularly extolled AI’s benefits, pledging to invest $300bn this year alone to develop the infrastructure around large language models.

Large companies far from Silicon Valley, from beverages giant Coca-Cola to sportswear maker Lululemon, are also discussing AI at ever-greater length in their regulatory filings. But they also largely paint a more sober picture of the technology’s usefulness, expressing concern over cyber security, legal risks and the potential for it to fail.

Caption from article by Melissa Heikkilä, Chris Cook and Clara Murray, Financial Times