Accenture to invest $3bn in AI over three years

Image of Accenture | Accenture fourth quarter

Accenture announced plans to invest $3bn into AI over three years.

The massive expansion of its Data and AI practice will double the company’s AI talent to 80,000 people in an effort to help its businesses across all industries to rapidly and responsibly use AI to achieve greater growth, efficiency and resilience.

The expansion of Accenture’s Data and AI practice will offer new industry solutions and pre-built models in order to help companies drive value.

Paul Daugherty, the group chief executive at Accenture Technology, discussed the decision to invest in Data and AI, “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 percent of all working hours.”

Accenture plans to launch AI Navigator for Enterprise, a generative AI-based platform that will help clients define business cases, make decisions, navigate AI journeys, choose architectures and understand algorithms and models in order to drive value. The platform will include assets designed to accelerate responsible AI practices and compliance programs.

The company will additionally launch its Center for Advanced AI in order to help maximize the value of generative and other AI. This includes extensive R&D and investments to reimagine service delivery using generative AI.

Daugherty further explained that Accenture’s, “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.”

This announcement today comes as a continuation of Accenture’s investments into AI technology. The firm looks to lead in AI expertise, with 1,450 patents and pending patent applications worldwide over the last decade-plus.

For years, Accenture has been driving efficiency, insights and accelerating value for thousands of clients through its market leading platforms with the use of AI technology that is embedded in its service delivery approach. The company’s Data and AI practice will now build and expand on Accenture’s business AI expertise.

Julie Sweet, chair and CEO at Accenture, explained the importance of the company’s investment, said: “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. 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.”

Sweet concluded that: “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.”