The Busy Brains
14 Jun 2023
Accenture, the leading technology company, has announced its plans to invest $3 billion over the course of three years in its Data & AI practice.
Accenture, the leading technology company, has announced its plans to invest $3 billion over the course of three years in its Data & AI practice. This strategic investment aims to assist clients across various industries in leveraging artificial intelligence (AI) in a responsible and efficient manner, enabling them to achieve enhanced growth, operational efficiency, and resilience.
Julie Sweet, Chair and CEO of Accenture, expressed the significance of this investment, stating,
"There is an unprecedented interest in AI across all sectors, and our substantial investment in the Data & AI practice will support our clients in translating their interest into tangible action and value. We are committed to helping companies establish a strong AI foundation, enabling them to reinvent themselves, stay competitive, and attain new levels of performance. With our deep understanding of ecosystem solutions and rapid technology advancements, we can guide our clients efficiently and cost-effectively, facilitating smart decision-making."
This investment builds upon Accenture's decade-long leadership in the field of AI. The company boasts an extensive portfolio of AI expertise, comprising more than 1,450 patents and pending patent applications worldwide, as well as numerous client solutions at scale across various industries, including marketing, retail, security, and manufacturing. Accenture has seamlessly integrated AI into its service delivery approach, driving operational efficiency, providing valuable insights, and delivering accelerated value for its broad client base through its cutting-edge platforms such as myWizard, SynOps, and MyNav.
Six years ago, Accenture pioneered its responsible AI framework, which has now become an integral part of the company's work for clients. It is firmly ingrained in Accenture's code of ethics and forms the foundation of its rigorous responsible AI compliance program. Currently, Accenture is actively engaged with numerous clients on generative AI projects, leveraging AI technology to assist a hotel group in managing customer queries and enabling a judicial system to synthesize complex information from hundreds of thousands of legal documents.
As part of its investment plan, Accenture will focus on enhancing its AI skills and capabilities through the allocation of resources to assets, solutions, ventures, acquisitions, talent acquisition, and strategic partnerships. The Data & AI practice is set to double its talent pool in AI, expanding to 80,000 professionals through a combination of recruitment, acquisitions, and training initiatives.
Accenture introduces the AI Navigator for Enterprise platform, a powerful tool designed to assist clients in defining use cases, facilitating decision-making, guiding AI journeys, selecting suitable architecture, and ensuring responsible value generation. Furthermore, the company offers accelerators and models specifically tailored to data and AI readiness across 19 industries.
The establishment of the Center for Advanced AI further reinforces Accenture's commitment to maximizing the benefits of generative AI. Additionally, the company is investing in cloud, data, and AI ecosystems to facilitate innovative work delivery, including pre-built models and dynamic virtual environments.
Paul Daugherty, Group Chief Executive of Accenture Technology, emphasized the transformative power of AI, stating,
"Over the next decade, AI will emerge as a mega-trend, revolutionizing industries, companies, and our way of life. As generative AI reshapes 40% of all working hours, our expanded Data & AI practice harnesses the full potential of AI, allowing us to create industry-specific solutions that enable our clients to reshape their strategies, technologies, and work methodologies. We are committed to driving innovation and value responsibly and at an unprecedented speed."
Accenture's significant investment in its Data & AI practice positions the company at the forefront of AI-driven advancements, enabling its clients to unlock the full potential of AI technology and drive growth and innovation in a rapidly evolving business landscape.