Over the last five years many have been saying that change is happening at an increasingly rapid pace and predicting the future is difficult. But in 2020 we have seen that the world wasn’t just changing rapidly – it is doing so by the minute, and large businesses need to keep up with it, stated Anton Borisyuk, the Senior Insights Director at PepsiCo, during his keynote session “Techno-evolution of the corporate structure: forced or necessary.”

With the pandemic and self-isolation operating businesses faced numerous challenges – how to interact with the consumer, how to sell their product, whether an advertisement campaign is necessary when everyone is staying at home and doesn’t go outside. While analyzing consumer behavior, PepsiCo noted a growth in online sales and switching to shopping locations that are close to home, focusing on healthcare, immunity, and hygiene, with the saving money and custom offers trends gaining strength.

“People want customized products made specifically for them, something unique as opposed to the mass-produced product. We are lacking in the communication and contact departments, so consumers want a greater degree of interaction with the manufacturer. Another important factor is that after being “plunged” into the family environment people start to value their families considerably more. We are looking for ways to interact with people in light of that,” says Anton Borisyuk.

In 2017 PepsiCo launched a “classic corporate accelerator” to search for start-ups in the fields of TechLab and FoodLab, which were supposed to work on boosting the brand and the attractiveness of the company as an employer, as well as to give additional value to the business of the corporation. According o the speaker, later it was decided “to eschew the one-time acceleration project in favor of continuous interaction with the tech market.” Launched in 2020, serves as a “single window” platform for internal customers and tech companies offering their own innovative solutions.

“We are a food manufacturer, not a tech company, yet we too have to face challenges and make use of technological expert examination. Building it up internally is hard, we are not ready to change our specialization, yet we cannot afford to keep away from the rapidly developing technologies either. Everything we do hinges on the consumer, we want people to smile and be happy,” stressed the Senior Insights Director at PepsiCo.

Presently, the company is especially interested in personalization technologies, allowing to identify people with different needs, wants, and consumer behavior. The augmented reality technology finds its uses both in the production process, and, for example, in employee training.

“The image recognition technology, which we implemented into the work of our sales representatives, is now widely used. It allows to quickly evaluate the representation of the product at a sales outlet, to understand what needs to be changed on the shelf, and how to do it more quickly,” explains Anton Borisyuk.

The future has come suddenly and unexpectedly, therefore, corporations have to develop their ability to rapidly respond to change, summed up the speaker. “This is what we are striving towards. And we see that technological players will help us change and achieve the necessary business goals.”