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Business News/ Companies / News/ Accenture to invest $3 billion in AI over three years, to have 80,000 employees

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Accenture to invest $3 billion in AI over three years, to have 80,000 employees

1 min read 13 Jun 2023, 06:56 PM IST Join us

Devesh Kumar

Accenture is planning to hire, and buy more companies working in the artificial intelligence space and train more employees with the latest technologies

The decision by Accenture highlights a growing trend among businesses to enhance their products and services by incorporating generative AI (Mint) — The decision by Accenture highlights a growing trend among businesses to enhance their products and services by incorporating generative AI **(Mint)**

Accenture is set to invest $3 billion over the next three years in its data and artificial intelligence space. The IT consulting firm will double the number of its employees to 80,000 working in the cutting-edge technology and AI arena. Accenture is planning to hire, and buy more companies working in the artificial intelligence space and train more employees with the latest technologies.

Accenture said that the $3 billion investment will help the companies across 19 industries. A specific timeline for the investments was not announced by the company.

The decision by Accenture highlights a growing trend among businesses to enhance their products and services by incorporating generative AI, a technology that major companies like Microsoft and Alphabet believe will revolutionize various job functions.

Layoffs in March

Notably, the fresh investment and hiring by Accenture in the artificial intelligence space is coming months after it laid off around 19,000 employees in March. The company said that job cuts are a result of a downturn due to high-inflation and rising rates.

Accenture also launched a new tool named "AI Navigator for Enterprise" which guide businesses on how to make the best use of artificial intelligence technology.

Salesforce, on Monday, announced a significant expansion of its venture capital fund, allocating $500 million specifically for startups working on generative AI. Additionally, they introduced an AI Cloud service aimed at attracting enterprise customers by providing a comprehensive range of AI-powered products in a single package.

The fresh investment by Accenture came at a time when the world is discussing the limits to which humanity should allow AI into their lives. Several noted technology leaders have flagged the dangers of such advance artificial intelligence platforms while others are mentioning their efficiency.

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ABOUT THE AUTHOR

Devesh Kumar

I cover politics, geo-politics, economy, and technology and have keen interest in understanding and analyzing the complex issues that shape our world. I am committed to delivering well-researched, balanced, and thought-provoking stories that provides insights into the key trends and developments.