Posted by Mumbai: Accenture to invest $3 billion investment over three years in its Data and AI practice. With the strengthening of its Data and AI practice, Accenture aims to help clients across all industries leverage AI rapidly and responsibly to drive growth and efficiency.
Accenture to invest $3 billion in AI
The company’s announcement includes a range of investments that Accenture is making to help companies develop the new strategies, operating models, business cases and digital core architecture they will need to capitalise on AI innovation.
It will invest in assets, industry solutions, ventures, acquisitions, talent and ecosystem partnerships, which will deepen and develop new skills and capabilities across diagnostic, predictive and generative AI.
Accenture to double AI talent to 80,000
The company will double the AI talent in its Data and AI practice with 80,000 professionals through a mix of hiring, acquisitions and training.
The new AI Navigator for Enterprise, a generative AI-based platform will help clients define business cases, make decisions, navigate AI journeys, choose architectures and understand algorithms and models to drive value responsibly. Building on Accenture’s own efforts, the platform will include assets designed to accelerate responsible AI practices and compliance programs.
Accenture will create accelerators for data and AI readiness across 19 distinct industries as well as pre-built industry and functional models that take advantage of new generative AI capabilities.
To advance the use of generative AI, its dedicated Centre for Advanced AI will maximise the value of this technology across clients and within the company. This includes extensive R&D and investments to reimagine service delivery using generative and other emerging AI capabilities.
The company will invest in new and existing relationships across its cloud, data and AI ecosystems to reinvent the type of work being delivered to clients.
“There is unprecedented interest in all areas of AI, and the substantial investment we are making in our Data and AI practice will help our clients move from interest to action to value, and in a responsible way with clear business cases,” said Julie Sweet, Chair and CEO, Accenture.
The company’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.
Accenture has embedded AI across its service delivery approach, driving efficiency, insights, and accelerating value for thousands of clients through its platforms such as myWizard, SynOps, and MyNav.
The company is currently working with many clients on generative AI projects, such as helping a hotel group manage customer queries or a judicial system synthesize judicial process information across hundreds of thousands of complex documents.
“Over the next decade, AI will be a mega-trend, transforming industries, companies, and the way we live and work, as generative AI transforms 40% of all working hours,” said Paul Daugherty, Group CE Accenture Technology.
“Our expanded Data and AI practice brings together the full power and breadth of Accenture in creating industry-specific solutions that will help our clients harness AI’s full potential to reshape their strategy, technology, and ways of working, driving innovation and value responsibly and faster than ever before,” added Daugherty.