Accenture Commits $3 Billion to Boost Data and AI Practice

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Accenture has announced its plan to invest $3 billion over the course of three years in its data and AI practice. The investment aims to double the number of employees working with cutting-edge technology at the IT consulting firm, with a target of having 80,000 people dedicated to AI through hiring, acquisitions, and training initiatives.

While Accenture did not specify a timeline for reaching this employee count, the investment is intended to benefit companies across 19 industries. The move reflects the increasing trend among companies to enhance their offerings with generative AI, a technology predicted by industry giants such as Microsoft and Alphabet to revolutionize various job sectors.

This announcement comes shortly after Salesforce’s decision to double its venture capital fund for generative AI startups to $500 million. Salesforce also unveiled its AI Cloud service, which consolidates its AI-powered products in one comprehensive platform, aiming to attract enterprises seeking AI solutions.

Accenture’s investment in AI follows its layoffs in March, during which approximately 19,000 jobs were cut due to economic challenges caused by high inflation and rising interest rates. In addition to the investment, the company has introduced the “AI Navigator for Enterprise,” a tool designed to guide businesses on maximizing their utilization of AI technology.

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