Accenture’s Underwhelming AI Reality Check Spells Trouble for Indian IT

Clients want AI and Accenture is booking contracts around it, but it’s not yielding results as expected.
Accenture
Image by Mohit Pandey
Accenture, the US IT consulting giant, reported another record year with $69.7 billion in revenue, a 7% increase from last year. Yet, alongside the growth, the company signalled caution. It warned of slower momentum, announced job cuts and noted that the anticipated boom from Artificial Intelligence is not delivering to the hype. Julie Sweet, Accenture’s chief executive, admitted as much in the post-earnings call. AI, she said, has taken the mind share of CEOs, the C-suite and boards faster than any technology development we've seen in the past few decades.  But the returns so far have been underwhelming. “As reported widely, value realisation (of AI) has been underwhelming for many and enterprise adoption at scale is slow other than with digital natives,” Sweet said. 
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Mohit Pandey
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.
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