Generative AI Needs a Strong Digital Core to Boost Business Value and Talent — Accenture

Generative AI (GenAI), or language-based AI, is a technology that can generate new content, insights, and solutions from existing data. It can also enhance human capabilities and enable new forms of collaboration and innovation. But how can businesses use this technology effectively and responsibly?

Accenture, a leading global technology consulting and services company, has been studying the opportunities and challenges of generative AI for businesses. In its latest Technology Vision report, Accenture identifies generative AI as one of the key drivers of business success in the future. The report shows that 98% of global executives agree that AI foundation models, which are large-scale models that can be adapted for specific tasks, will be important for their organizations’ strategy in the next few years.

Generative AI has a wide range of applications across different industries and functions. It can help businesses transform their data, design and manufacture products, innovate and solve problems, and more. It can also have a significant impact on science and society as a whole.

However, generative AI also requires a strong digital core, talent development, responsible governance, data readiness, sustainable tech foundation, and ecosystem innovation.

Recognizing the transformative potential of Generative AI, Accenture has also announced that it will invest $3 billion over the next three years in its Data & AI practice to help clients across all industries use AI more quickly and responsibly to achieve more growth, efficiency, and resilience. Accenture has also launched the Center for Advanced AI, a center of excellence that will help clients get the most value from generative and other AI technologies.

To help business leaders understand and use generative AI better, Accenture has published “A New Era of Generative AI for Everyone“, a comprehensive study that provides practical insights on how to use this technology. The study covers topics such as the evolution and impact of generative AI across industries and functions, the benefits and challenges of using generative AI for business purposes, the best practices and frameworks for developing and deploying generative AI solutions and the ethical and social implications of generative AI for society.

Paul Daugherty, group chief executive of Accenture Technology said: “AI will be a major trend in the next decade, changing industries, companies, and the way we live and work. Generative AI will transform 40% of all working hours by creating new content, insights, and solutions. Our Data & AI practice combines Accenture’s expertise and experience to help our clients use AI to reshape their strategy, technology, and ways of working. We help them drive innovation and value faster and more responsibly than ever before.”

Ambe Tierro, Country Managing Director and Technology Lead of Accenture Philippines said: “We are undoubtedly seeing a resurgence of AI as interest continues to grow globally for Generative AI or language-based AI and how these game-changing technologies can potentially transform and shape the future of businesses and societies. GenAI, as a co-pilot, creative partner or advisor, will advance human capabilities and overall, its impact will be a net gain for people and skills as these technologies will open up more opportunities to create talent, upskill people for new roles and higher value work.”