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Global service provider Accenture has identified 300 plus use cases across 19 industries where generative AI can have tangible impact: said the Chief strategy officer Bhaskar Ghosh in an interview with ET. Earlier this year the company showed exit to 2.5 percent of its workforce.
Accenture has identified five broad areas where generative AI can be implemented – advising, creating, automation, software creation and protection. The company is also working with a multinational bank to use generative AI to route large numbers of post-trade processing emails and draft responses with recommended actions to reduce manual effort and risk.
Earlier this month, the company partnered with Salesforce to accelerate the deployment of EinsteinGPT; the company’s generative AI for CRM. Today, the company stated the implementation will be across service delivery, consulting and technology, taking a foundation model and training it with internal data to create a private model for the company.
Ghosh expects generative AI implementation projects to pick up further over the next two-three years. But earlier this month, the company manually identified 200 tasks related to language and assessed which tasks had higher potential to be automated or augmented. ‘We currently estimate that generative A.I. will impact 40% of people’s working hours. This does not mean 40% of jobs will be eliminated–far from it,’ the report stated.
Accenture had also announced plans to acquire Flutura, an AI company based in Bangalore and Houston, to increase performance in plants, refineries, and supply chains. Flutura specialises in industrial data science services for manufacturers and other asset-intensive companies, with over a hundred employees providing solutions for advanced analytics. Terms and the amount of the deal remain undisclosed.
Even though the tech company stated the jobs will not be negatively affected by the adoption of technology, it announced plans to axe 2.5 percent of its workforce i.e.19,000 employees. “”While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs,” the company stated in its SEC filing.