Accenture Commits $3B To AI

Signaling yet another major player’s acceptance of AI, global consulting firm Accenture said Tuesday it will invest $3 billion over three years into its AI and data practice.

That will look like new hires, training existing employees and acquisitions, according to a statement from the firm.

The publicly traded company advises and provides services to clients on generative AI projects across 19 industries, and Accenture CEO Julie Sweet said a commitment to AI is critical in serving its clients.

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“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,” said Sweet.

The investment comes just months after Accenture announced it will lay off 19,000 workers.

This shift in strategy begs the question of whether AI will replace jobs (as we all suspect) or ironically fuel hiring humans who know how to navigate the AI world.

AI investment, can’t stop won’t stop

Public and private companies (and the consultants that serve them) alike are finding their way in the new AI paradigm.

Earlier this week Salesforce Ventures 1 — Salesforce’s venture arm — announced it will double the size of its Generative AI Fund to $500 million, just three months after launching it.

Salesforce and Salesforce Ventures are among several big tech companies and corporate venture arms that have been placing AI bets for several years.