Accenture plans to acquire UK-based artificial intelligence company Faculty for an undisclosed sum, further strengthening its focus on advanced AI services. Founded in 2014, Faculty has built a strong reputation for helping public and private clients implement AI solutions in the UK and other key global markets. Accenture said the acquisition strengthens its ability to support customers in improving critical business processes using secure, results-driven AI solutions.
As part of this agreement, Faculty Frontier™ will be integrated into Accenture's product suite to enhance decision-making by more tightly connecting data, AI and core business processes. The companies are already working with life sciences companies, including Novartis, to improve clinical trial planning through AI-powered insights.
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The acquisition also builds on the existing partnership between the two companies. Accenture and the faculty plan to expand the faculty's fellowship program, which helps STEM graduates transition from academia to industry around the world. The partnership begins in December 2023, with Accenture becoming Faculty Frontier™'s preferred partner.
Once the transaction closes, Accenture's undergraduate team of more than 400 AI experts will join Accenture, significantly strengthening its AI talent base. Mark Warner, the faculty's current CEO, will become Accenture's chief technology officer and join the company's global management committee. The transaction remains subject to regulatory approvals and customary closing conditions.
“Together with our faculty, we will further accelerate our strategy to bring trusted, advanced AI to the heart of our customers' businesses,” said Julie Sweet, Accenture Chairman and CEO. “We are excited to welcome the faculty team to Accenture and look forward to Mark helping shape our technology vision and strategy as Chief Technology Officer.”
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Warner echoed that sentiment, emphasizing the shared vision behind the deal. “Our vision has always been of a world where secure AI brings far-reaching benefits to humanity. For the past decade, we have been helping our clients make this world a reality, one step at a time. As AI advances rapidly, our clients' ambitions are now, of course, to reinvent their businesses. We are pleased that by partnering with Accenture, we are fully equipped to support their AI transformation from start to finish.”
The acquisition comes as Accenture steadily ramps up its efforts to strengthen its AI capabilities. Sweet told investors last September that the consulting giant would “retire” employees who were not effectively adapting to AI in the workplace. The company has also started calling its roughly 80,000 employees “innovators,” underscoring its ambitions to position itself as a leader in artificial intelligence and large-scale digital transformation.
