Who is Making Money on AI
A company that now have $2 billion in GenAI sales
Hi! It’s Kate again!
Surprise! You might think the giants of generative AI are the big names like OpenAI, Oracle, Adobe, Microsoft, and Google Cloud. Microsoft’s cloud services alone brought in $23.9 billion in one quarter! Impressive, right? But guess what?
They’re not the top dogs. The real MVP is Accenture.
In the third quarter of fiscal 2024, Accenture reported revenues of $16.5 billion, contributing to a massive $48.5 billion for the first three quarters. That’s a lot of dough!
How did they pull it off? Let's dive into:
- The Accenture Story (grab some popcorn)
- Why They Succeeded (spoiler: they’re really good at what they do)
- The Accenture and OpenAI Collaboration (AI dream team alert)
- Steps to Start a Career in AI Consulting (because who doesn’t want to jump on this money train?)
Let’s break it down!
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Dark Horse in Gen AI
Accenture is a big deal in the consulting and tech world but that's not to say the company's name is on the rumor mill.
They work with more than three-quarters of the Fortune Global 100 and 500 companies, helping everyone from healthcare providers to public services.
They’re also throwing down $3 billion on artificial intelligence to make sure they stay ahead in the tech game. That’s a serious commitment to innovation, and I find it impressive.
Financially, they’re killing it.
In short, Accenture is leading the pack with a massive client base, huge AI investments, and impressive earnings. They don’t keep up with the big tech names—they’re outpacing them.
Accenture Highlights Generative AI as Key Disruptor in Business,
How Come?
Origins and Early Growth
It all started in the 1950s as part of Arthur Andersen. Fast forward to 1989, and Andersen Consulting was born, later rebranded as Accenture.
Initial Public Offering and Expansion
In 2001, they made a big splash by going public on the New York Stock Exchange, raising nearly $1.7 billion. Talk about a grand entrance!
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Innovation and Technology Leadership
Accenture didn’t just sit back. They expanded globally, now serving clients in over 120 countries with a workforce of more than 700,000 employees. They’ve truly become a global corporation.
Entry into AI and Collaboration with Google
What’s their secret? Innovation. They’ve poured resources into research and development, setting up Accenture Technology Labs and partnering with tech giants like Microsoft. But they didn’t stop there. They jumped into the AI scene, teaming up with Google to bring top AI solutions to their clients.
Learn about the super successful collab between Google and Accenture and find out how to change your career to become an AI consultant.
Accenture and Generative AI
Accenture, BMW, and AI Rev Up the Future
Accenture teamed up with BMW North America to create EKHO (Enterprise Knowledge Harmonizer and Orchestrator). This generative AI tool transforms data into real-time insights, speeding up decision-making. EKHO helps in areas like customer service and manufacturing. Thanks to EKHO, BMW's productivity increased by 30-40% because it significantly reduces the time needed to find and analyze information.
Accenture and Salesforce Join Forces
Accenture and Salesforce have created a generative AI acceleration hub to develop custom AI strategies and use cases. For example, the AI can automate tasks to boost sales productivity and improve customer service with AI-generated responses and automated knowledge management. According to recent research, 84% of senior IT leaders believe generative AI will help their organizations serve customers better. Additionally, 67% of these leaders prioritize generative AI for their business within the next 18 months.
Salesforce AI tools interface
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AI Dream Team: Accenture, ServiceNow, and NVIDIA
Accenture, in collaboration with ServiceNow and NVIDIA, is accelerating generative AI adoption through the AI Lighthouse program. This initiative improves workflows and productivity with intelligent automation and creates specialized AI models for industries like drug discovery and chatbots.
How To Start a Career in AI Consulting
Want to try yourself in AI consulting? Here are a few steps that will help even if you’re an absolute beginner. I chose decent services and courses for you as well.
Learn more about AI jobs here:
Educational Foundation
- Introduction Courses: Start with basic AI and data science courses. Check out Coursera's "AI for Everyone" by Andrew Ng or edX's "AI for Beginners".
- Certifications: Look for beginner-friendly certifications in AI from Google AI or IBM AI.
Technical Skills
- AI Tools: Use easy-to-use AI tools like Google AutoML, IBM Watson, and Microsoft Azure AI.
- No-Code Platforms: Try out platforms like DataRobot and KNIME that let you create AI models without needing to write any code.
DataRobot Interface
Practical Experience
- Hands-On Projects:
You can try to build a Customer Churn Prediction: Use a no-code tool like Akkio to predict which customers might stop using a service based on past data. Akkio is user-friendly and doesn’t require any coding.
Akkio Churn Prediction
- Workshops and Bootcamps:
+ Udacity: Join beginner-friendly AI bootcamps to learn how AI is used in real-world scenarios. + General Assembly: Attend workshops that teach AI basics and how to use no-code tools.
And subscribe to our newsletter to be always aware of the best AI tools and services.
Create Content (to promote yourself)
Showcase your knowledge and interest in AI by:
- Sharing projects on LinkedIn: Highlight your progress and achievements.
- Using ChatGPT: Create engaging posts or write-ups about your learning journey and insights.
- Engaging in AI Forums and Communities: Participate in Reddit, Stack Exchange, and Kaggle to ask questions, share knowledge, and showcase your skills.
We wrote about GPTs here:
Wrapping Up
The industry is growing by leaps and bounds. You don't have to create an AI product—you can help run a business. Choose what’s close to you and join the job market. You'll be happy with the paychecks!
This article was first published in the Creators AI newsletter. View the original edition.
