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August 5, 2022

Filings buzz: gauging drinks industry interest in AI

GlobalData has analysed companies' annual reports and other filings to see which key issues are receiving the most attention.

By Data Journalism Team

Mentions of artificial intelligence within the filings of companies in the beverages industry were 61% lower in the second quarter of 2022 than in Q2 of 2021.

However, in total, the frequency of sentences related to artificial intelligence between July 2021 and June 2022 was 363% higher than in 2016 when GlobalData first began to track the key issues referred to in company filings.

When drinks manufacturing companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Industrial automation is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether AI is featuring more in the summaries and strategies of food manufacturing companies, GlobalData calculates two measures. It looks at the percentage of companies that have mentioned big data at least once in filings during the past twelve months – this was 43% compared to 22% in 2016. It also calculates the percentage of total analysed sentences that referred to the topic.

Of the 20 biggest employers in the beverages industry, Pernod Ricard was the company that referred to AI the most between July 2021 and June 2022. GlobalData identified five AI-related sentences in the France-based company's filings - 0.2% of all sentences. Nestle mentioned AI the second most - the issue was referred to in 0.12% of sentences in the company's filings. Other top employers with high AI mentions included AB InBev, Coca-Cola HBC and Asahi.

GlobalData also categorises AI mentions by a series of subthemes. Of these subthemes, the most commonly referred to topic in the second quarter of 2022 was 'conversational platforms', which made up 90% of all AI subtheme mentions by drinks manufacturing companies.

This analysis provides an approximate indication of which companies are focusing on artificial intelligence and how important the issue is considered within the beverages industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning artificial intelligence more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into artificial intelligence have been successes or failures.

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