Accenture, the global management consulting, and professional services company announced its plan to invest $3 billion in artificial intelligence (AI) over the next three years. The company said it aims to build out its team of AI professionals and AI-focused solutions to meet the increasing demand from its clients across various industries.
Doubling the size of its Data & AI practice team
To achieve this goal, Accenture has revealed plans to double the size of its Data & AI practice team from 40,000 employees to 80,000. The company intends to accomplish this through a combination of hiring, training, and acquisitions, ensuring that it has access to top talent in the field of AI.
AI Navigator for Enterprise Platform
Accenture has also announced the launch of its AI Navigator for Enterprise platform. This innovative platform will work with clients to define their AI business cases and help choose the best architectures and models to drive value in a responsible and sustainable way.
Setting up data and AI readiness accelerators
In addition, the firm has plans to set up data and AI readiness accelerators across 19 industries. These accelerators will provide guidance to help organizations identify opportunities for AI and data, as well as how to integrate them into their operations.
Launches Center for Advanced AI
To advance the use of generative AI, Accenture has launched a new Center for Advanced AI that will include R&D and investments to reimagine service delivery using generative and other emerging AI capabilities. Generative AI is a type of AI that is capable of creating new data on its own, rather than relying on data input by humans.
The potential of AI to transform industries, companies, and work-life
Accenture’s investment in AI reflects the growing recognition of AI’s potential impact on industries, companies, and the way we live and work. According to estimates from Accenture, generative AI has the potential to transform 40% of all working hours.
Similar AI product announcements from software leaders
Accenture’s investment in AI comes on the heels of similarly big AI product announcements from other software leaders, such as Salesforce, Oracle, and ServiceNow. AI is increasingly taking center stage as companies look for ways to accelerate innovation, adapt to changing market conditions, and stay ahead of the competition.
What does the investment mean for Accenture’s relationships with other companies?
The announcement raises the question of what the investment means for Accenture’s relationships with other companies, such as Salesforce, that are seeking to provide their own AI tools to clients. On the one hand, some of the money could flow into the pockets of Accenture’s partners. On the other hand, they could find themselves competing with other investments and AI models made by Accenture.
Accenture’s investment in AI reflects the company’s commitment to staying at the forefront of technological innovation. The company plans to double the size of its Data & AI practice team, launch AI Navigator for Enterprise, set up data and AI readiness accelerators, and invest in a Center for Advanced AI, underscoring its ambition to deepen its expertise in the field. As AI continues to reshape our world, Accenture’s AI investments will undoubtedly play a critical role in driving innovation and transformation across industries.