Accenture Commits $3 Billion Investment in AI to Increase Efficiency for Enterprise Clients
In Brief
Accenture plans to invest $3 billion over three years to expand its data and AI practice.
The professional services company has also launched its AI Navigator for Enterprise platform to guide AI strategy, use cases, rigorous business cases, decision-making and responsible policies.
The company plans to double AI talent to 80,000 people.
Accenture today announced that it will invest $3 billion over three years to expand its data and AI practice and increase efficiency for its enterprise customers across 19 industries. This investment builds on Accenture’s decade-plus experience in delivering AI consulting services and solutions for businesses.
The company has a wealth of experience in AI, with more than 1,450 patents and hundreds of successful client solutions across a wide range of industries. Accenture has integrated AI into its service delivery methods through platforms like myWizard, SynOps, and MyNav, allowing them to deliver value and insights to thousands of clients.
Six years ago, Accenture developed its own responsible AI framework, which is now an integral part of the company’s code of ethics and is the foundation of its rigorous compliance program for responsible AI. Currently, Accenture is working with clients on generative AI projects, such as helping a hotel group handle customer inquiries or assisting legal systems in analyzing large volumes of complex legal documents.
The $3 billion investment will be spread across a range of new strategies, operating models, business cases and digital core architecture to capitalize on AI innovation. These include:
- Assets, industry solutions, ventures, acquisitions, talent and ecosystem partnerships, which will deepen and develop new skills and capabilities across diagnostic, predictive and generative AI.
- The Data & AI practice will double its AI talent to 80,000 professionals through a mix of hiring, acquisitions, and training.
- The new AI Navigator for Enterprise is a generative AI-based platform that 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 efforts, the platform will include assets designed to accelerate responsible AI practices and compliance programs.
- Creating 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.
- Its Center for Advanced AI is dedicated to maximizing the value of generative AI for clients and within Accenture. This includes extensive R&D and investments to reimagine service delivery using generative and other emerging AI capabilities.
- New and existing relationships across its industry-leading cloud, data and AI ecosystems. For instance, developers using pre-built models to enhance prototyping or creators building dynamic virtual environments that can adapt with real-world changes.
“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 chief executive, Accenture Technology. “Our expanded Data & 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.”
Accenture joins other professional services companies including PwC, EY, and KPMG in bringing generative AI to professional services. In April, PwC announced that it will invest $1 billion over the next three years to enhance its U.S. operations.
Read more:
- Client
- How to Use NFTs for Business and Public Administrations
- Metaverse businesses need to focus on consumer needs, not what tech can do, Accenture says
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
More articles
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
