IT firm Accenture has announced USD 3 billion investment in the AI space. The company also plans to double AI professionals to 80,000 people. The company had announced laying off 19,000 people in March this year.
Accenture has announced USD 3 billion investment in AI.
The company also wants 80,000 people to work in AI space.
Accenture announced laying off 19,000 people in March.
Artificial Intelligence (AI) is the talk of the AI world and more and more companies are integrating the emerging technology in order to stay a step ahead of competition. Companies like Canva, LinkedIn, Meta and Google, to name a few, also announced AI-powered features for their products recently.
IT firm Accenture has now announced investments worth USD 3 billion in the AI space. The company will be investing this amount in the emerging technology over the next three years. Not only this, Accenture is also planning to double the employees in the AI space to 80,000. Meanwhile, in March this year, Accenture had announced laying off 19,000 employees in order to cut costs.
Accenture announces USD 3 billion investment
The announcement was made by Accenture in a blog post. The post, dated June 13, read, “Accenture today announced a USD 3 billion investment over three years in its Data and AI practice to help clients across all industries rapidly and responsibly advance and use AI to achieve greater growth, efficiency and resilience.”
Accenture CEO Julie Sweet, talking about the investment said, “There is unprecedented interest in all areas of AI, and the substantial investment we are making in our Data & AI practice will help our clients move from interest to action to value, and in a responsible way with clear business cases.
“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. 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.”
The blog post also added that the company wants to have 80,000 employees working in the AI space. This will be done by a mix of ‘hiring, acquisitions and training’. “The Data & AI practice will double its AI talent to 80,000 professionals through a mix of hiring, acquisitions and training,” the post read.
Layoffs at Accenture
Accenture announced 19,000 layoffs in March this year and also revealed that the layoffs won’t happen all at once. Instead, people will lose their jobs over the next 18 months. The company also said at the time that the layoffs were a part of its cost-cutting measures. Another reason behind the layoffs that the company cited was overhiring. Apart from this, the company has also delayed joining of freshers.