PepsiCo is the first CPG company to collaborate with Stanford HAI's Affiliates Program and will contribute to its Consumer Goods, Retail and AI focus area.
PURCHASE, N.Y., June 29, 2023 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) today announced a collaboration with the Stanford Institute for Human-Centered Artificial Intelligence, an organization dedicated to guiding and building the future of artificial intelligence. As the first CPG company to join Stanford HAI's Corporate Affiliate Program, PepsiCo aims to be the global corporate leader in industrialized AI applications and responsible AI and gain insights that advance research, education, policy and practice throughout the industry.
"At PepsiCo, we firmly believe that AI should augment the human experience and will contribute to our digitalization efforts throughout the company," said Athina Kanioura, Chief Strategy and Transformation Officer at PepsiCo. "Collectively, with Stanford HAI, we have a unique opportunity to engage with a community of leading experts, academics and engineers to understand the implications of this advancing technology and how it will enhance the human experience. As AI becomes more prevalent across the CPG industry, it is increasingly important to recognize the significance of ethical AI and its impact."
PepsiCo will work with Stanford HAI to initially focus its research on ethical and responsible AI around four key industry areas:
Supply Chains, Forecasting and Smart Manufacturing – With AI, the CPG industry can optimize daily operations throughout the supply chain, better predict future needs such as inventory levels and demand patterns, and reduce human error, saving time and resources.
Direct-to-Consumer Impact and Personalization – Growing consumer demand can be more effectively prioritized and managed with AI, resulting in increased engagement, improved customer loyalty and a better understanding of customers.
AI and Organizational Design – AI establishes a more agile decision-making process, allowing associates to focus on creative and strategic work. These efficiencies will reimagine organizational structures and future talent needs.
AI and Sustainability – AI can optimize operations and reduce emissions to protect the environment more effectively. It can also improve the quality and production of agricultural yields.
"Stanford HAI is excited to welcome PepsiCo as the inaugural member of the HAI Corporate Affiliate Program's focus area in Consumer Goods, Retail & AI," said James Landay, Vice Director and Faculty Director of Research for Stanford HAI. "It is great to see PepsiCo, a global food and beverage corporation, prioritize the ethical application of AI in order to ensure that their products and services align with societal needs and values."
As PepsiCo continues its digital transformation journey, collaboration with universities and policy leaders is essential to ensure that AI is implemented responsibly and positively impacts the individual user as well as the broader community. This research partnership will go beyond one single company's challenges and instead aims to guide industry leadership toward an understanding of how AI can benefit our society and shape its future.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo.
About HAI Corporate Affiliate Program
The HAI Corporate Affiliate Program provides the opportunity for member companies to interact with Stanford faculty and students, as well as other corporate members, coordinated by HAI's dedicated corporate membership team. Relationships between companies, faculty, and graduate students provide all constituents with valuable insights on opportunities, problems, and solutions at the intersections of AI research, policy, and education with industry. For more information visit https://hai.stanford.edu/news/stanford-hai-welcomes-pepsico-corporate-affiliates-program.
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SOURCE PepsiCo, Inc.