NEW YORK–In a trend that is also evident in credit unions, a number of major U.S. firms have announced big investments in artificial intelligence technology.
Among them, the consulting firm Accenture, which said it plans to invest $3 billion in AI over the next three years.
“There is unprecedented interest in all areas of AI,” Accenture CEO Julie Sweet told the New York Times.
According to the company, it plans to double its AI-focused staff to 80,000 through a mix of hiring, acquisitions and training. The firm has 738,000 employees. It also plans to use generative AI more in its client work and help customers increase their use of the technology, according to the Times report.
Accenture is hardly alone.
Other Big Investments
The Times noted that PwC said in April it would invest $1 billion over the next three years, while EY, which has a research relationship with Co-op Solutions, announced in 2021 that it would invest $2.5 billion over three years. In addition, Bain and Company has partnered with OpenAI, the maker of ChatGPT, while Deloitte is teaming up with the chip maker Nvidia, the report added. And IBM, whose AI work dates back at least to the introduction of Watson, has announced a “Center of Excellence” for generative AI, according to the Times.
“The business world overall is going big on AI, as investments on generative AI alone are expected to hit $42.6 billion by year end,” according to PitchBook. “And mentions of ‘AI’ or ‘artificial intelligence’ on corporate investor calls have soared this year.”
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