During its latest earnings call for Q1 FY25, Accenture reported a record-breaking $1.2 billion in generative AI bookings, bringing the total to $4.2 billion since September 2023. This marks the highest quarterly bookings in the segment, reflecting the growing investments of clients in generative AI. In September 2024, Accenture announced $1 billion in revenue from generative AI, a significant jump from $900 million in the previous quarter. The company was the first in its industry to disclose generative AI deal values and in June 2023, reported $100 million in pure-play generative AI projects for the quarter. This quarter’s sales are almost double that of the previous quarter, showcasing the increasing demand for generative AI solutions.
During the post-earnings call, Julie Sweet, Accenture’s CEO, highlighted the importance of organisations investing in building robust data foundations before scaling AI initiatives. She also mentioned that the company has steadily increased its data and AI workforce, reaching approximately 57,000 practitioners. However, despite its strong performance, Accenture maintained a cautious outlook on the global economy.
In the August 2024 quarter, Accenture secured $1 billion in generative AI orders, accounting for 6.4% of its overall $18.7 billion bookings for the quarter. The company also added 24,000 employees in the quarter, with a significant portion of hiring concentrated in India. In October, Accenture partnered with NVIDIA to launch the Accenture NVIDIA Business Group, aimed at helping enterprises scale AI adoption. This initiative includes training for 30,000 professionals globally to assist clients in reinventing processes and expanding the use of enterprise AI systems.
Despite Accenture’s impressive performance, Indian IT firms are yet to disclose such revenues from generative AI. However, with the company’s continued growth and partnerships, it is expected that generative AI will play a significant role in shaping the future of the industry. As the demand for AI solutions continues to rise, Accenture is well-positioned to capitalize on this trend and meet the critical needs of its clients.
