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Learn MoreArtificial intelligence is all the rage these days and rightly so. It is an immensely important advancement in technology and is here to stay.
In the coming few years, AI will be increasingly visible in our day-to-day lives, from socializing to work, entertainment to business. Yet, it's still not as elusive and so far flunked in the future as it may seem.
It's already arrived. When you're using TikTok or YouTube, those suggested pieces of content that feel weirdly accurate and relatable are results of machine learning.
TikTok's meteoric rise in the past few years is in large part thanks to advancements in machine learning and large companies have taken note of this. Many businesses are incorporating AI to determine prices, improve customer experience and better just about all other operations that AI can be used in.
One of those is Accenture. But not only has it been using AI, it's been creating tools that will allow other businesses to use AI as well.
In this short article, we'll see what Accenture is doing regarding this emerging piece of technology and what sets this company apart from other giant companies in the AI space.
Accenture is a Fortune-500 company but you may have never heard of it. And that's because its products aren't as exciting and consumer-based like Apple, Tesla, Amazon and other giant corporations.
The company started out as the tech wing of an accounting firm called Arthur Andersen, split up and became a giant, acquiring numerous companies. Now the company has several divisions and provides an array of services to many businesses.
From business strategy to digital marketing, cloud services to research and development, you name it. And the company has been wildly successful at that. Its net income for 2021 is almost US$6 billion. But this figure should shoot up in the coming years, given the company's inroads into artificial intelligence.
The bad pun of the heading aside, Accenture is fast becoming an industry leader in integrating AI. US-based research firm Forrester even named Accenture as the best in the AI market in the Asia Pacific region.
Forrester actually came out with a report outlining why Accenture is the best, and these are the reasons - top notch delivery, better strategy, better AI culture and actual results.
But that's not all, clients have spoken and they can attest that Accenture has 'acceded' (another bad pun, I suppose) their expectations. The company has also started joint ventures with some of its huge partners/customers.
When it comes to artificial intelligence, Accenture has a collection of solutions which it calls Solutions.ai. It uses advancements in this new and exciting field of tech that is AI and applies it to businesses.
One of its main differentiator when delivering AI is the fact that the company has extensive experience in business. Because its AI services are catered to the needs of businesses and because the company has years worth of experience working with mega corporations like Apple, Amazon, Microsoft and Google, it's no wonder that Accenture has an edge over competitors.
When it comes to AI industry leaders like Accenture's partners - Amazon, Google etc. Its operations, as well as the playing field set the company apart. The big tech companies' AI departments are all about providing services to a broad spectrum of users whilst Accenture's solutions is focused on providing AI services to businesses on specific sphere of operations like marketing, pricing, recruitment and customer engagement among others.
Take pricing for instance. Accenture's AI solution garners and analyzes data from location, competitor's pricing, promotions etc. and tests out prices to come up with a price that satisfies both the business and customers.
But the thing about AI is that it is perpetually gathering information and data. Not only that, it continuously learns to optimize functions. Meaning as a business continues to use Accenture's AI solution for its pricing, strategies are subject to change, they say, for the better.
This example is one of more than 25 industry-specific, scalable solutions Accenture says it provides. The company also says that it has more than double the speed to value of a typical product lifecycle and has scaled more than 500 deployments.
Accenture has long established itself as one of the best in the business and the AI solutions addition will only push it to more profitable avenues in the future. In fact, the company has historically oriented itself as a company of the future. Even the name 'Accenture' comes from the phrase 'accent on the future'.
It is hard to breakdown exactly how AI works as it is a very technical subject. On top of this, we're talking about an industry leader's AI operations. So unfortunately we couldn't delve into this topic much further. But we hope you enjoyed the article. Thanks for reading. You can check out more articles about AI on our website Juice.ai
