Accenture released its third quarter earnings report for fiscal year 2024, showing that it has made significant progress in the field of generative artificial intelligence. The report shows that the company's new generative AI bookings exceeded US$900 million this quarter, with total bookings reaching US$2 billion so far in the fiscal year, and revenue reaching US$500 million. This achievement highlights Accenture’s market leadership in generative AI and demonstrates its strength in helping companies leverage this technology to create value. Accenture is actively expanding its data and AI talent team and plans to double the number of relevant talents to 80,000 by the end of fiscal year 2026 to meet growing market demand.
Global consulting giant Accenture announced in its fiscal 2024 third quarter earnings report that the company's new bookings in the field of generative artificial intelligence (AI) exceeded US$900 million, bringing its total bookings so far in the fiscal year to US$2 billion.
"We achieved two important milestones this quarter - $2 billion in year-to-date generative AI sales and $500 million in revenue - demonstrating our early leadership in this critical technology area," the company said in a statement. ”
"We are helping a leading global food and beverage company that has built a strong digital presence on its reinvention journey to harness the power of generative AI to create new value," Accenture CEO Julie Sweet said during the earnings call. core."
She added that the company has developed a digital shelf console pilot, a GenAI engine that accelerates e-commerce content creation and optimizes it to drive sales.
Sweet also noted that the company continues to steadily increase its data and AI talent workforce to approximately 55,000 skilled data and AI practitioners, with the goal of doubling its data and AI talent workforce from 40,000 to 80 by the end of fiscal 2026. 000 people.
Accenture has also partnered with National Australia Bank, one of the country's largest financial institutions, to strategically implement and scale generative AI. She said: “We systematically built a secure and robust GenAI platform within the bank’s existing strategic data platform, creating a backlog of 200 generative AI use cases. To date, more than 20 use cases have been tested at the bank , eight enterprise-level pilots are underway and some are already delivering value.”
Last year, Accenture announced a $3 billion investment in its data and AI practice. At the World Economic Forum in Davos, Sweet reiterated Accenture's commitment to allocate $1 billion annually to train its employees in generative AI.
In addition, Accenture recently partnered with Anthropic and AWS to train more than 1,400 Accenture engineers to become experts in using Anthropic models on AWS. The company is also working with Cohere to accelerate enterprise adoption of generative AI, leveraging Cohere's Command and Embed models and its Retrieval Augmented Generation (RAG) capabilities to help organizations expand their use of generative AI.
Accenture's huge investment and remarkable results in the field of generative AI indicate that the application of AI technology in the business field will be more extensive and in-depth in the future, and also provide reference for other companies.