References to the term’ Artificial Intelligence’ in beverage companies’ filings have soared in recent months, according to a recent data analysis by GlobalData.
The appearance of the term in filings submitted by companies in the drinks industry increased by over 230% in the 12 months to the end of June compared to the corresponding period five years ago.
Of the 20 largest drinks companies, Asahi Group referred to AI the most in the 12-month period. GlobalData identified five related sentences in the Japan-based company's filings over the year. Second was Chinese food and beverage group Tingyi Holding Corp, which coincidentally operated a soft drinks JV with Asahi in China until mid-2017.
Also notable for the frequency with which they mentioned AI were Kirin Holdings, Coca-Cola HBC and Coca-Cola FEMSA.
Across all beverage manufacturing companies, in the three months to the end of June this year, the filing that referred to AI the most came from Coca-Cola Europacific Partners. Of the document's 1,145 sentences, four - 0.3% - mentioned AI.
GlobalData also categorised artificial intelligence mentions by sub-theme. Of these, the most commonly referred-to topic in the second quarter of 2021 was 'smart robots', which made up 61% of all AI sub-theme mentions by drinks manufacturing companies.
GlobalData analyses the text of companies' annual and quarterly reports, as well as ESG announcements and other filings. The process identifies individual sentences that relate to disruptive areas, such as AI. Companies that are investing in these areas, GlobalData believes, are better prepared for the future.
Of course, mentioning AI is not necessarily proof that a company is either utilising new techniques or prioritising the issue. Nor does it indicate whether the company's activity in this has been a success or failure.