The American corporation Microsoft has announced the signing of a five-year agreement worth $1.1 billion with Coca-Cola, under which it will provide its services in the field of cloud computing and artificial intelligence technology.
Under the terms of the agreement, Microsoft and Coca-Cola will "jointly experiment" with Azure OpenAI. This service will allow customers to create chatbots and other artificial intelligence services that run on Microsoft Azure.
In addition, the companies said that Coca-Cola will test Microsoft Copilot offerings to see how these tools improve the beverage maker's productivity.
It is expected that Coca-Cola will spend $1.1 billion on all these cloud services and generative artificial intelligence. By the way, the beverage maker has been implementing these latest technologies for a year now.
Four years ago, Coca-Cola already signed a $250 million agreement to use Microsoft's cloud and other software.
"This new agreement builds on our successful partnership strategy with Microsoft and demonstrates our commitment to further digital transformation," said John Murphy, President and Chief Financial Officer of Coca-Cola. – "Our partnership has grown exponentially from $250 million in 2020 to $1.1 billion today.