The ODP Corporation Expands Collaboration with Microsoft to Leverage the Power of AI Technology from Microsoft Azure OpenAI Service

Rhea-AI Summary

The ODP Corporation (NASDAQ: ODP) has expanded its collaboration with Microsoft to include the Azure OpenAI Service, enhancing customer experience and operational efficiency. This partnership aims to leverage Azure's scalable cloud infrastructure, enabling ODP to migrate legacy systems and improve its digital procurement ecosystem, Varis. Microsoft Azure OpenAI will facilitate the integration of advanced AI capabilities, including ChatGPT, into ODP's operations. CEO Gerry Smith emphasized that this technology will drive operational efficiencies and create a sustainable competitive advantage, aligning with ODP's low-cost business model. Eric Boyd from Microsoft expressed excitement about the partnership's potential to drive innovation and enhance customer experiences.

Positive

• Expansion of collaboration with Microsoft to include Azure OpenAI Service.
• Leverages AI capabilities like ChatGPT to enhance customer experience.
• Improvement of operational efficiencies and digital transformation.
• Alignment with low-cost business model promoting growth opportunities.

Negative

• None.

ODP's collaboration with Microsoft to include Microsoft Azure OpenAI Service to enhance customer experience, drive additional operational efficiencies, and create a sustainable competitive advantage

BOCA RATON, Fla.--(BUSINESS WIRE)-- The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that it is expanding its longstanding relationship with Microsoft to include Microsoft Azure OpenAI Service advanced artificial intelligence technology to enhance customer experience, drive operational efficiencies, and more effectively pursue growth opportunities.

Recognizing Azure’s immense potential, ODP has been working with Microsoft to migrate legacy systems and to build out its customer-facing platforms, including its Varis digital procurement ecosystem and Business Central integration, on Microsoft Azure. This collaboration has enabled ODP to leverage the power of Azure’s scalable cloud infrastructure, improving the speed, reliability, and security of its online services and applications.

ODP is now expanding this relationship to include Microsoft Azure OpenAI Service advanced artificial technology capabilities. Through this collaboration, ODP is harnessing the power of Microsoft Azure OpenAI, including ChatGPT hosted securely on Azure, to further improve customer experience, streamline internal operations, and position the Company to pursue growth opportunities more efficiently.

“We’re excited to expand our collaboration with Microsoft to harness the power of Azure OpenAI Services, including ChatGPT,” said Gerry Smith, Chief Executive Officer of The ODP Corporation. “This technology will enable continued transformation in our business, driving additional operational efficiencies consistent with our low-cost business model, and positioning us to deliver greater value to customers while more effectively pursuing growth opportunities. Our relationship with Microsoft positions ODP to be at the forefront of innovation, enhancing our digital capabilities and creating a sustainable competitive advantage for the future.”

“We are delighted that ODP has chosen Microsoft Azure OpenAI service as its solution for integrating transformational AI capabilities into critical business processes and systems,” said Eric Boyd, Corporate Vice President of Azure AI Platform at Microsoft Corp. “Through our deepened relationship, we will partner more closely with ODP to take advantage of generative AI, to drive innovation, increase productivity and enhance the experience of ODP’s customers.”

About The ODP Corporation
The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, a B2B digital procurement solution, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; Veyer, LLC; and Varis, Inc., The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. Varis is a trademark of Varis, Inc. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. Any other product or company names mentioned herein are the trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005391/en/

Tim Perrott

Investor Relations

561-438-4629

Tim.Perrott@theodpcorp.com

Danny Jovic

Media Relations

561-438-1594

Danny.Jovic@officedepot.com

Source: The ODP Corporation

FAQ

What is ODP's recent announcement regarding Microsoft?

ODP announced an expansion of its collaboration with Microsoft to include Azure OpenAI Service, enhancing its digital capabilities and operational efficiencies.

How will the Azure OpenAI Service benefit ODP?

The Azure OpenAI Service will improve customer experience, streamline operations, and help ODP pursue growth opportunities more efficiently.

What technologies will ODP integrate from Microsoft?

ODP will integrate advanced AI technologies, including ChatGPT, via the Azure OpenAI Service.

What is the significance of the partnership for ODP's business model?

The partnership aligns with ODP's low-cost business model, driving operational efficiencies and enhancing value for customers.

When was the announcement made?

The announcement regarding the partnership expansion was made on April 26, 2023.