Accenture: The Next Beneficiary of the AI Revolution?

12/6/2024, 8:00 AM

Investors who wish to benefit from long-term growth in the AI sector should not lose sight of Accenture as a potential winner of the "next AI wave.

Eulerpool News Dec 6, 2024, 8:00 AM

Accenture, a globally leading consulting company, plays a key role in the distribution of NVIDIA AI solutions, according to Huang. With a specialized unit of around 30,000 employees trained in the use of NVIDIA technologies, Accenture helps companies worldwide to efficiently integrate AI into their processes. Moreover, Accenture uses AI itself to, for example, make marketing campaigns up to 30 percent more efficient.

In the field of industrial AI, Accenture is developing simulations for virtual robot fleets, among other things, to support manufacturing companies in implementing NVIDIA's platforms. These initiatives demonstrate how Accenture is strategically positioned in both corporate and industrial AI.

Accenture reported impressive figures for fiscal year 2024: New bookings in the area of generative AI reached one billion US dollars in the fourth quarter and amounted to three billion US dollars for the entire year. CEO Julie Sweet sees generative AI as "the most transformative technology of the next decade" and expects strong growth for 2025.

Despite promising developments, Accenture stock could not keep up with NVIDIA's success, with a 7 percent increase over the last twelve months. Analysts still see a moderate price increase potential of around 5 percent. Although the price-earnings ratio of 31.49 is above the industry average, the growing opportunities in the AI sector could offer further potential.

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