Bain & Company announces services alliance with OpenAI to help enterprise clients identify and realize the full potential and maximum value of AI

Rhea-AI Summary

Bain & Company has formed a global services alliance with OpenAI, making Coca-Cola the first client to engage in this collaboration. The partnership aims to leverage OpenAI's advanced AI technologies to enhance Bain's strategic and digital delivery capabilities. Bain has integrated OpenAI tools into its operations, demonstrating improved efficiency for its team. Specific initiatives include developing next-gen contact centers, personalized marketing strategies, and enhanced productivity tools for financial advisors. Coca-Cola's ambitious plans to adopt these technologies signify a transformative step in leveraging AI for business improvements.

Positive

• Coca-Cola is the first client to engage with Bain and OpenAI's services alliance.
• Bain has embedded OpenAI technologies into its internal processes, leading to greater operational efficiency.
• The collaboration aims to create tailored AI solutions for clients, maximizing business potential.

Negative

• None.

Global partnership combines the power of OpenAI's industry-leading AI technology advancements with Bain's world-renowned capabilities in strategy and digital application delivery; The Coca-Cola Company announced as the first company to engage with the alliance

SAN FRANCISCO, Feb. 21, 2023 /PRNewswire/ -- Bain & Company today announced a global services alliance with OpenAI, the research and deployment company behind the AI systems ChatGPT, DALL·E and Codex, which are changing the way people communicate and create.

The alliance builds on Bain's adoption of OpenAI technologies for its 18,000-strong multi-disciplinary team of knowledge workers. Over the past year, Bain has embedded OpenAI technologies into its internal knowledge management systems, research, and processes to improve efficiency.

Given the early successes of those initiatives, Bain and OpenAI are working together to bring OpenAI's groundbreaking capabilities to its clients globally. With the alliance, Bain will combine its deep digital implementation capabilities and strategic expertise with OpenAI's AI tools and platforms, including ChatGPT, to help its clients around the world identify and implement the value of AI to maximize business potential. The Coca-Cola Company is the first company to engage with the new alliance, Bain also announced today.

"AI has reached an inflection point and we foresee a huge wave of change and innovation for our clients across industries. We see this as an industrial revolution for knowledge work, and a moment where all our clients will need to rethink their business architectures and adapt. By collaborating with OpenAI, we're delighted to have unmatched access to state-of-the-art foundation AI models, so that we can create tailored digital solutions for our clients and help them realize business value," said Manny Maceda, Bain & Company's Worldwide Managing Partner.

"We're thrilled to be working with Bain to deliver real value to our large enterprise customers," said Zack Kass, Head of Go-To-Market at OpenAI. "OpenAI's technology combined with Bain's expertise will enable massive business transformation within the Fortune 5,000. Bain's internal adoption of this technology is also setting a standard for their clients to follow."

Bain is collaborating with OpenAI to embed AI into its clients' operations and to support the necessary changes to improve technology, processes, operating model and data assets. Leading use cases under development with clients include:

• Building next generation contact centers for retail banks, telco and utility companies to support sales and service agents with automated, personalized, and real-time scripts, and to improve customer experience.
• Boosting turn-around time for leading product and service marketers by using ChatGPT and DALL·E to develop highly personalized ad copy, rich imagery, and targeted messaging.
• Helping financial advisors improve their productivity and responsiveness to clients through analysis of client dialogues and financial literature, and generation of digital communication.

Bain and OpenAI are delighted that The Coca-Cola Company is the first company to engage with the alliance.  "Coca-Cola's vision for the adoption of OpenAI's technology is the most ambitious we have seen of any consumer products company," said Kass of OpenAI. Coca-Cola is harnessing the power of ChatGPT and DALL-E in industry-leading ways to improve their already world-class brands, marketing, and consumer experiences.

"We are excited to unleash the next generation of creativity offered by this rapidly emerging technology," said James Quincey, Chairman and CEO of The Coca-Cola Company. "We see opportunities to enhance our marketing through cutting-edge AI, along with exploring ways to improve our business operations and capabilities."

Recognizing the profound impact of AI advances on enterprise software products, Bain and OpenAI are also working with Bain's software industry clients, including the leading players in financial operations, human resources, customer relationship management, marketing, digital commerce and service operations, to enrich their offerings.

"This hugely exciting partnership is going to help us deliver more powerful AI solutions to our clients, and help them win as their industries transform with this generational shift in technology capability," said Roy Singh, global head of Bain & Company's Advanced Analytics practice. "By pairing OpenAI's AI technology platform with Bain's industry expertise and its team of engineers, data scientists, product managers and consultants, our clients will be able to identify the right business opportunities and implement them rapidly."

More about OpenAI and Bain's Advanced Analytics practice

OpenAI is a research and deployment company whose mission is to build safe and powerful AI that benefits all of humanity. OpenAI focuses on general-purpose AI tools that can perform a wide variety of economically and socially beneficial tasks.

OpenAI developers some of the most capable AI models in the world for understanding and producing including text, image, speech and software code. Its natural language processing models including ChatGPT, can generate realistic text conversations and emulate human expertise, enabling new possibilities for customer support, language translation, content creation and a range of other developing applications.

Bain's Advanced Analytics practice consists of more than 500 data scientists, machine learning engineers, operations research experts, predictive analytics specialists and more. This multidisciplinary team combines algorithmic, technical and business expertise to solve the hardest problems faced by the firm's clients. The services offered to clients include the implementation of machine learning applications, delivery of business insights, technology architecture/engineering, organizational development and analytics strategy. The group integrates closely with the firm's industry and capability practices to bring holistic business and technology solutions to our clients.

To learn more about the OpenAI and Bain & Company partnership, visit the partnership page here.

Media contacts

For more information, please contact:
Bain & Company:
Dan Pinkney (Boston) – dan.pinkney@bain.com
Gary Duncan (London) – gary.duncan@bain.com

About Bain & Company

Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future.

Across 64 cities in 39 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

About The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company's purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We're constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people's lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide.

Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.

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SOURCE Bain & Company

FAQ

What is the alliance between Bain & Company and OpenAI about?

The alliance aims to leverage OpenAI's AI technologies to enhance Bain's strategic and digital delivery capabilities for clients.

How is Coca-Cola involved in the Bain and OpenAI alliance?

Coca-Cola is the first company to engage with the services alliance, aiming to utilize AI technologies to improve marketing and operations.

What initiatives are being developed through the Bain and OpenAI partnership?

Key initiatives include developing next-generation contact centers and personalized marketing strategies.

When was the alliance between Bain and OpenAI announced?

The alliance was announced on February 21, 2023.

What technologies from OpenAI are being integrated by Bain?

Bain is integrating OpenAI's ChatGPT and DALL·E technologies into its operations and client solutions.