Accenture Launches Generative AI Studio in India as Part of $3 Billion Investment Plan
In Brief
Accenture unveiled its Generative AI Studio in India, as part of its substantial $3 billion investment for data and AI technologies.
Global IT services firm Accenture unveiled its generative AI studio in Bangalore, India — as part of its substantial $3 billion investment in the field of data and AI.
According to Accenture, the newly launched studio is designed to serve as a collaborative space where the company’s team and clients can jointly develop innovative solutions, leveraging a modern data and AI foundation, LLM architecture, ecosystem partnerships, talent, and frameworks for responsible AI.
“Clients understand the massive opportunity that generative AI can bring to optimise and reinvent their business, opening up new avenues for growth,” said Senthil Ramani, Global Lead–Data and AI at Accenture.
“However, to harness the full potential of their AI investments, they need to be value-led in every business capability they choose to reinvent with generative AI. Our Bengaluru studio will help our clients around the globe prioritise capabilities across the entire value chain,” Ramani added.
Almost 74% of C-suite executives are planning to increase their spending on AI-related initiatives in 2024, an uptick from the 50% reported in the previous year, and this surge in investment reflects a shift from proof of concept to the customization of foundation models with proprietary data, according to a recent survey conducted by Accenture.
“Our clients across 19 industries now have the opportunity to understand, experiment, adopt and scale generative AI solutions to reinvent functions and business models to achieve new levels of performance,” said Ramani from Accenture.
The studio would leverage Accenture’s strategic investments in the Center for Advanced AI for clients, drawing upon the company’s extensive portfolio of over 1,450 pending and issued patents in AI and insights gained from more than 300 active generative AI projects.
Accenture Commits $3 Billion Bet on Generative AI
In June 2023, Accenture announced its plan to invest $3 billion over the next three years, aimed at bolstering its data and AI practice. This move is geared towards enhancing operational efficiency and delivering advanced solutions for enterprise customers spanning 19 diverse industries.
Last month, it launched a network of generative AI studios in North America to enable clients to explore industry use cases, co-innovate, conduct AI pilots and rapidly initiate and scale programs. According to Accenture, its studios are set to establish a direct link between clients and the company’s foremost data and AI experts.
Likewise in November 2023, the company announced its plan to acquire Ammagamma, an Italian firm specializing in artificial intelligence and generative AI technologies. As part of the acquisition, the Italian firm is set to integrate into Accenture’s growing network of AI professionals within its Advanced Center for AI in Europe to look for AI applications across industries.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
