Accenture Doubles Down On Its AI Bet With $3 Billion Investment
Accenture plans to invest $3 billion in its AI practice over the next three years and double its headcount to 80,000 employees.
Accenture Plc is doubling down on its artificial intelligence bet in an attempt to build a stronghold in a rapidly evolving industry.
The world’s largest I.T. services firm plans to invest $3 billion over the next three years in its data and AI practice to help clients achieve greater growth, efficiency, and resilience, according to a statement on Tuesday.
"Companies that build a strong foundation of AI by adopting and scaling it now, where the technology is mature and delivers clear value, will be better positioned to reinvent, compete, and achieve new levels of performance," Julie Sweet, chief executive and chairperson at Accenture, said in the statement.
"Our clients have complex environments, and at a time when the technology is changing rapidly, our deep understanding of ecosystem solutions allows us to help them navigate quickly and cost-effectively to make smart decisions."
The move by the Dublin, Ireland-based company comes at a time when artificial intelligence—especially generative AI—has caught the fancy of clients and their workers, thanks to the buzzy chatbot called ChatGPT created by OpenAI. The technology promises to improve the productivity of those in desk jobs as well as upend their jobs at the same time.
"Over the next decade, AI will be a megatrend—transforming industries, companies, and the way we live and work as generative AI transforms 40% of all working hours," said Paul Daugherty, group chief executive at Accenture Technology.
Against that backdrop, Accenture plans to invest in assets through acquisitions and ecosystem partnerships to develop new skills across diagnostic, predictive, and generative AI. The company also plans to double its AI talent to 80,000 professionals by way of hiring, acquisitions, and training.
To be sure, Accenture’s Indian rivals have, in a way, stolen a march over the industry leader as far as doubling-down on their AI bets and talent is concerned.
Tata Consultancy Services Ltd. has launched TCS Generative AI in an expanded partnership with Google Cloud. The I.T. bellwether has already trained more than 50,000 associates in the technology.
Infosys Ltd. has unveiled its maiden AI-first offering called Topaz, which converges the I.T. firm’s cloud and data analytics capabilities to deliver ready-to-use industry solutions.
Wipro Ltd. is integrating Google Cloud’s full suite of generative AI tools—including Vertex AI, App Builder, and Model Garden—with its own AI intellectual property. The company will also train 20,000 associates in the technology.
Accenture’s AI expertise spans more than 1,450 patents and pending patent applications worldwide and hundreds of client solutions at scale—ranging from marketing to retail and security to manufacturing.
