Accenture Plc ACN is reportedly set to establish 10 innovation hubs globally for generative artificial intelligence, with London hosting one, marking the company’s latest initiative in the field of AI.
“The UK is an absolutely critical market for us,” Chief Executive Officer Julie Sweet told Bloomberg Television in an interview in Davos, Switzerland, attending the World Economic Forum.
Sweet added that the company has made a few acquisitions already in the last few months, the report read.
Sweet emphasized that the focus for this year is on achieving growth. In response to the surging demand in AI, Accenture has restructured its operations, it added.
Following a significant cost-cutting move that eliminated 19,000 jobs, the company now aims to bolster its AI expertise by doubling the number of specialized staff to 80,000, according to the report.
The company has outlined these actions as components of a three-year, $3 billion investment in Accenture’s data and AI practice. A significant portion of this investment will be directed toward assisting clients in optimizing generative AI, a technology that generates visual content or text in response to straightforward prompts.
Sweet, as mentioned on the company’s website, overseeing approximately 743,000 global employees, emphasizes the need for companies to collaborate with governments in training workers for the new job opportunities emerging due to AI, Bloomberg added.
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Price Action: ACN shares closed at $353.65 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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