Accenture (NYSE:ACN) announced on Tuesday that it has made a strategic investment in Writer, an enterprise-ready platform using generative AI to assist businesses in content creation. The investment was made through Accenture Ventures, however, the terms of the deal were not disclosed.
Writer's generative AI capabilities have been used internally by Accenture since 2021, primarily by marketing and communications professionals to generate written content and align writing to voice and brand guidelines. The company is now preparing to offer these capabilities to its clients as part of its existing services.
Baiju Shah, chief strategy officer of Accenture Song, a tech-powered creative group within Accenture, highlighted the transformative potential of this technology. “Our continued investments in generative AI platforms will empower clients across all industries to transform how they create, personalize and distribute content at pace, but also safely, securely and with brand integrity,” said Shah.
Accenture Research suggests that up to 40% of all working hours could be impacted by Large Language Models (LLMs), a type of AI model used by Writer. Additionally, 98% of global executives agree that AI foundation models will play an important role in their organizations’ strategies over the next three to five years.
In June 2023, Accenture announced that it would invest $3 billion into its Data & AI practice to help clients across all industries rapidly and responsibly advance and use AI for growth, efficiency, and resilience.
May Habib, CEO and co-founder of Writer, expressed optimism about the partnership with Accenture. “Joining Accenture’s ‘Project Spotlight’ program will enable Writer to benefit from Accenture’s expertise from decades of deploying AI across industries and functions, and help us grow by driving broader awareness of our capabilities,” said Habib.
Writer has now joined Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology startups with the Global 2000 to fill strategic innovation gaps. The program offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups deliver on the promise of their technology.
The investment in Writer is part of Accenture's broader commitment to AI, as demonstrated by its recent initiatives such as the establishment of a Center for Advanced AI, aimed at maximizing the value of generative and other AI technologies.
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