Accenture’s CEO claims that most companies are not ready for artificial intelligence

Accenture’s CEO claims that most companies are not ready for artificial intelligence

One of the areas where the application of generative AI has reached its furthest extent is the management of internal company data, for example, detecting fraud in a bank, or trading raw materials in an energy company. Customers are also increasingly using this technology in customer service services or “chatbots,” but with humans monitoring the results, Sweet says.

In the last two quarters of the previous fiscal year, which ended on September 30, Accenture recorded revenue from generative AI projects worth $300 million, and when its first quarter fiscal 2024 report was released on Tuesday, Sweet was able to report an order worth $450 million. In the region – which confirms that companies are still retreating from their investments in artificial intelligence.

The totals also show that the AI ​​business is at a modest level compared to the group’s $64 billion annual turnover.

It appears in red for the numbers

Otherwise, the report showed an after-tax profit of $1.973 million, or $3.10 per share. stock, which is down slightly from $1,965 million ($3.08 per share) in the same period last year.

Revenue was $16,224 million, up from $15,748 million in the first quarter of last year.

Adjusted for one-time effects, the result per share is $3.27, up from $3.08 per share in the same period in 2023.

The FactSet consensus indicated $3.14 in adjusted earnings per share. Share of revenues: $16,170 million.

Accenture is still guiding for 2-5 percent growth in total revenue in fiscal 2024 compared to the previous year, while adjusted earnings per share are expected to rise 3-6 percent to $11.97-12.32. The consensus envisions $12.24 in adjusted earnings per share. stock.

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The market reacts by sending the stock down 2-3 percent in the previous trading session on Tuesday on Wall Street.

Hanisi Anenih

Hanisi Anenih

"Web specialist. Lifelong zombie maven. Coffee ninja. Hipster-friendly analyst."

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