Generative AI is a branch of artificial intelligence that uses large language models (LLMs) to create new content, such as text, images, audio, or code, based on existing data. Generative AI can help businesses optimize and reinvent their processes, products, services, and customer experiences, by unlocking new insights, automating tasks, enhancing creativity, and generating new value.
According to a recent Accenture survey, 74% of the C-suite executives plan to increase their AI-related spending in 2024, up from 50% in the previous year, as companies move from proof of concept to customizing foundation models with proprietary data. However, to harness the full potential of their AI investments, they need to be value-led, responsible, and scalable in every business capability they choose to reinvent with generative AI.
How will Accenture’s generative AI studio help clients?
To help clients accelerate the adoption and scaling of generative AI solutions, Accenture has launched a generative AI studio in Bengaluru, India, as part of its $3 billion investment in data and AI. The studio, which is part of Accenture’s global network of generative AI studios, will enable clients to co-create solutions with Accenture’s team of data and AI experts, using a modern data and AI foundation, LLM architecture, ecosystem partnerships, talent, and responsible AI frameworks.
The studio will tap into the strategic investments made in Accenture’s Center for Advanced AI for clients and will draw upon Accenture’s more than 1,450 pending and issued patents in AI, and learnings from over 300 active generative AI projects. The studio will also leverage Accenture’s switchboard, a new service that allows clients to switch between different foundation models and customize them with their own data, without compromising on performance, security, or ethics.
“Our Bengaluru studio will help our clients around the globe prioritize capabilities across the entire value chain,” said Senthil Ramani, Global Lead–Data & AI, Accenture. “Our clients across 19 industries now have the opportunity to understand, experiment, adopt, and scale generative AI solutions to reinvent functions and business models to achieve new levels of performance.”
What are some of the use cases and benefits of generative AI?
Generative AI can be applied to various domains and functions, such as sales, marketing, customer service, finance, talent, legal, and more. Some of the use cases and benefits of generative AI include:
- Generating personalized and engaging content, such as headlines, captions, slogans, summaries, reviews, recommendations, etc., based on customer preferences, behavior, and feedback.
- Automating and enhancing document creation, such as contracts, proposals, reports, invoices, etc., by extracting key information, filling in gaps, and ensuring compliance and accuracy.
- Improving customer interactions, such as chatbots, voice assistants, emails, etc., by generating natural and human-like responses, understanding intents and emotions, and providing relevant solutions.
- Creating and optimizing new products, services, and experiences, such as logos, designs, images, videos, music, games, etc., by using generative AI to augment human creativity and innovation.
- Accelerating and simplifying software development, such as code, testing, debugging, etc., by using generative AI to automate and improve coding tasks, generate high-quality code, and fix errors.
How is Accenture leading the way in generative AI?
Accenture is a leading global professional services company that helps the world’s leading businesses, governments, and other organizations build their digital core, optimize their operations, accelerate revenue growth, and enhance citizen services—creating tangible value at speed and scale. Accenture has been at the forefront of generative AI innovation, with several initiatives and achievements, such as:
- Developing ChatGPT, a generative AI platform that can create natural and engaging conversations for various purposes, such as customer service, sales, entertainment, education, etc.
- Partnering with Writer, a generative AI startup that helps businesses create high-quality and consistent content, such as emails, blogs, social media posts, etc.
- Launching a network of generative AI studios in North America, where clients can explore, co-innovate, pilot, and scale generative AI solutions for their specific needs and goals.
- Publishing thought leadership and research on generative AI, such as Tech Vision 2023: Generalizing AI, The art of AI maturity: Advancing from practice to performance, and From AI compliance to competitive advantage.
