Accenture sees spike in Gen AI project line

Accenture's early gains in GenAI is in contrast to homegrown technology services giants such as TCS

- Varun Sood

Accenture Plc. secured projects worth $450 million in generative artificial intelligence (GenAI) in the three months ended November, marking a 50% jump from the $300 million clocked in the previous six months.

Rising business from GenAI projects affirms how the IT services and consulting giant is gaining from the November 2022 launch of ChatGPT that made AI the biggest talking point in the technology world as a potential catalyst for disruptions in businesses.

"We continue to take an early leadership position in GenAI, which will be an important part of the reinvention of our clients in the next decade," Accenture chair and chief executive officer Julie Sweet said in a post-earnings interaction with analysts on Tuesday.

If Accenture’s GenAI business continues to grow at the same rate, it could become a $4 billion business in the current financial year, an analyst said.