Accenture Hits $2 Billion in Generative AI Sales, Expands Global AI Workforce
Accenture announced over $900 million in new bookings for generative AI, reaching a total of $2 billion fiscal year-to-date during its Q3 FY24 earnings report. “We have achieved two significant milestones this quarter — with $2 billion in generative AI sales year-to-date and $500 million in revenue year-to-date — demonstrating our early lead in this critical technology,” the company said in a statement. “We are helping a leading global food and beverage company, which has already built a strong digital core as part of its reinvention journey, to now leverage the power of generative AI to create new value,” said Accenture CEO Julie Sweet during the earnings call. She added that they have developed a digital shelf console pilot, a GenAI engine that accelerates content creation for e-commerce and optimises it to drive sales. “We also continue to steadily increase our data and AI workforce, reaching approximately 55,000 skilled data and AI practitioners, against our goal of doubling our data and AI workforce from 40,000 to 80,000 by the end of FY2026,” Sweet stated. The global IT giant has partnered with National Australia Bank, one of the country’s largest financial institutions, to strategically implement and scale generative AI. “We worked on a methodical build of a secure and robust GenAI platform within the bank’s existing strategic data platform, creating 200 generative AI use cases in backlog. To date, over 20 use cases have been tested across the bank, with eight enterprise-grade pilots underway, several of which are already delivering value,” she added. Accenture is also assisting Saudia Airlines, the national flag carrier of Saudi Arabia, in launching an innovative digital platform to transform the traveler’s experience. “Powered by GenAI, the platform will provide a one-stop solution enabling customers to seamlessly plan their journeys, book flights, and modify their trips with just a few words, all while providing a personalized and conversational experience,” said Sweet. Last year, Accenture announced a $3 billion investment in its data and AI practice. At the World Economic Forum in Davos, Sweet reiterated Accenture’s commitment, allocating $1 billion annually to train its workforce in generative AI. Additionally, Accenture recently collaborated with Anthropic and AWS to train over 1,400 Accenture engineers as specialists in utilizing Anthropic’s models on AWS. The company also partnered with Cohere to accelerate the adoption of generative AI across enterprises, utilizing Cohere’s Command and Embed models, along with its Retrieval Augmented Generation (RAG) capabilities, to help organizations scale the use of generative AI.
Aims to double AI workforce from 40,000 to 80,000 by the end of FY2026.
Aims to double AI workforce from 40,000 to 80,000 by the end of FY2026.
["Accenture"]
["Accenture", "Anthropic", "Go", "GenAI", "AWS", "AI", "ML", "RAG", "generative AI", "retrieval augmented generation", "R"]
["AI", "ML", "generative AI", "GenAI", "Anthropic", "retrieval augmented generation", "RAG", "AWS", "R", "Go"]
Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.