Two months after announcing massive staff cuts, consulting firm Accenture pledges to spend $3 billion on developing AI expertise and credentials, through hiring, acquisitions and more. Credit: YinYang / Getty Images IT consulting and services giant Accenture announced today that it would spend $3 billion on assets, startups, talent and partnerships aimed at staking out a leading position in the fields of generative and predictive AI. Beyond the raw investment of money, Accenture said that its data and AI practice will double in size, from 40,000 to 80,000, “through a mix of hiring, acquisitions and training.” The company will also create startup accelerators for AI readiness, focusing on 19 different industries, and will look to generate pre-built models suitable for use in those industries. The move comes two months after the company said it would lay off 19,000 staffers, or 2.5% of its workforce, to reduce costs amid uncertain macroeconomic conditions. However, about half those cuts, Accenture said, would be from back-office staff involved in nonbillable work, and the company did specify at the time that “we continue to hire, especially to support our strategic growth priorities.” Accenture also announced a new AI Navigator for Enterprise product, which it describes as a system to help users make business decisions about AI, create business cases for its use and understand the type of modeling and algorithms required to accomplish particular tasks. (The product is, itself, powered by generative AI.) “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,” said Julie Sweet, Accenture’s chair and CEO. “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.” Accenture was also eager to talk up the company’s history in AI, noting that AI is already used in platforms like myWizard process automation, SynOps for business operations intelligence, and myNav for cloud architecture design. The company was also working on a responsible AI framework six years ago, which, it said, outlines “rigorous” guidelines for the use of AI, and said that it’s already working on generative AI projects with clients as diverse as hotel groups and judicial systems. Accenture isn’t the first consultancy firm to announce major investments into AI. PWC stated in April that they would spend $1 billion on a partnership with Microsoft and OpenAI to adapt the latter’s generative AI technology for use in tax and auditing services, according to the Wall Street Journal. And Bain and Company announced a similar AI deal with OpenAI in February, with Coca-Cola as the first client. Related content feature Getting infrastructure right for generative AI Ensuring a cost-effective approach for delivering the massive storage, bandwidth, and computing resources necessary for genAI is no easy task. Here’s how innovative IT leaders are coping. By Stan Gibson Jun 03, 2024 8 mins Generative AI Budgeting Infrastructure Management tip 3 methods to forge stronger business partner alliances Want to build better tech partnerships? Creating and nurturing fortified ties built on mutual, goal-oriented collaboration can help. By Kate Vitasek Jun 03, 2024 6 mins ICT Partners Relationship Building IT Strategy feature IT leaders’ AI talent needs hinge on reskilling Most organizations see the need to revamp their training programs to address AI skills shortages — an approach that delivers intangibles hiring can’t provide. By Grant Gross May 31, 2024 7 mins Hiring Generative AI IT Skills feature Skills the Irish Government CIO uses to advance digital transformation In his eight-year tenure as CIO at Ireland’s Department of Public Expenditure and Reform, Barry Lowry always had a vision of what digital government could look like. Here, he details how an approach built on transparency and innovation is conti By Ian Campbell May 31, 2024 8 mins CIO Government IT Cloud Management PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe