03:44 PM EDT, 10/17/2024 (MT Newswires) -- (Updates with details from Bain's press release.)

Bain said Thursday that it is extending partnership with Microsoft ( MSFT )-backed (MSFT) OpenAI to leverage AI products to meet clients' needs.

The Wall Street Journal reported the story earlier.

Bain will invest in an OpenAI Center of Excellence with a dedicated team to provide clients with services and technologies to realize business value and impact from OpenAI's products, the consultancy firm said.

The partnership will co-design and deliver products initially for the retail and health care life sciences industries and expand to other sectors over time, according to Bain.

The companies will conduct regular joint roundtables and events to highlight the impact of the collaboration.

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