2024 Paris Olympics – Week 3 Briefing

Stated as a landmark event, the Paris Olympics 2024 is blending cutting-edge technology with global sports traditions. Here’s a closer look at some key positive themes and reputational risks associated with the Games.

Positive Developments

• Samsung is revolutionizing how fans experience the Olympics by equipping boats for the Opening Ceremony with its devices and leveraging a private 5G network for real-time broadcasting. This initiative bridges the gap between athletes and spectators, making the event more accessible and engaging for everyone involved.
• AI is playing a significant role in the Paris Olympics 2024. Intel’s collaboration with the International Olympic Committee and the National Olympic Committee of Senegal has led to the creation of an AI platform for discovering talent in remote areas. This technology, combined with OMEGA’s precise timekeeping and Samsung’s real-time feedback tools, enhances athlete safety, event management, and viewer engagement, marking a notable integration of technology into the Games.
• Alibaba is using AI to restore and colorize historical photos of female athletes, showcasing its technological expertise and commitment to gender equality. This project aligns with the company’s values of diversity and inclusion, reinforcing its role as a significant supporter of the Olympics and its dedication to celebrating women in sports.
• Allianz, as a global insurance partner for the Olympics and Paralympics from 2021 to 2028, views the Paris 2024 Games as a prime opportunity to enhance its brand presence. Allianz is providing comprehensive insurance coverage for sports venues, athletes, fans, and associated companies.

Reputational Risks

• Visa’s policy of accepting only Visa cards at Olympic venues led to dissatisfaction among attendees who used other payment methods. Reports of payment failures and transaction issues frustrated customers and negatively impacted Visa’s reputation.
• In addition to facing criticism at the Paris 2024 Olympics for using millions of plastic bottles despite the event’s push for reducing single-use plastics and promoting sustainability, Coca-Cola is also facing allegations from French tax authorities regarding unpaid taxes amounting to millions of euros. As a prominent sponsor, these tax issues could overshadow Coca-Cola’s involvement in the Olympics, affecting public perception of the company’s commitment to ethical practices and potentially detracting from its sponsorship efforts.
• Atos, a key technology partner for the Paris 2024 Olympics, is grappling with severe financial difficulties, including a massive debt and ongoing restructuring efforts. This instability raises concerns about Atos’s ability to fulfill its commitments effectively, potentially affecting the reliability of its contributions to the Games.
• Toyota’s promotion of hydrogen technology, which is still under development, could harm its image as an eco-friendly sponsor. Critics argue that endorsing such technology might be seen as premature and could affect Toyota’s reputation.
• Despite the anticipated demand boost from the Olympics, Airbnb has seen only about 12% of its listings fully booked. This underperformance may impact Airbnb’s image and perceived value as a sponsor, reflecting poorly on its ability to capitalize on major events like the Olympics.

Conclusion

The Paris Olympics 2024 underway now, showcases a blend of exciting innovations and significant challenges. As the Games continue, how these issues unfold will shape the overall experience for athletes, spectators, and sponsors alike.