After making waves in March 2023 with its mass layoff of 19,000 employees — explained as a way to cut costs amid an economic slump — Accenture has announced a massive $3 billion investment over 3 years in its Data & AI practice.
“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,” said Julie Sweet, chair and CEO of Accenture.
“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.”
Here are some highlights from the news release and accompanying context:
AI investment to span talent, software, training, and partnerships
So, where will that $3 billion go? Accenture lists a wide range of investments in ventures, industry solutions, relationships, and R&D:
- New AI Navigator for Enterprise: A generative AI-based platform to help clients with business operations, from accelerating AI compliance programs to navigating AI journeys and defining business cases.
- AI Talent: Accenture spares no expense in making sure they can back their AI investment with people who know their stuff. That’s why part of that $3 billion will go to hiring and training an additional 40,000 AI professionals in the company’s Data and AI practice section, doubling their talent pool in the area. Some will be direct hires, while others will come from acquiring AI startups.
- Accelerators: Accenture will develop data and AI readiness accelerators across 19 industries
Accenture already a pioneer in AI
Three billion is a big chunk of coin, but Accenture’s “decade-plus leadership in AI” precedes and backs that investment. Accenture owns more than 1,450 patents in various client solutions, many of which have AI embedded in the service.
Moreover, the company’s recent Reinventing Enterprise Operations Report covers a few AI-driven values, like the need to automate experiences at scale.
“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,” says Paul Daugherty, Group Chief Executive, Accenture Technology.
Read Accenture’s full news release here.
