Accenture to acquire UK AI firm Faculty
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The news: Accenture has agreed to acquire Faculty, a UK-based AI native services and products business to expand the consultancy’s AI capabilities.
The numbers: In a statement published Tuesday, Accenture said that Faculty’s over 400-strong workforce will be integrated into the consultancy. The companies did not disclose financial details of the deal.
The context: Accenture said that Faculty’s CEO Marc Warner will become Accenture’s chief technology officer and will join the company’s Global Management Committee following the purchase. The consultancy will also offer Faculty’s ‘Frontier’ product which is used to synthesize business data.
The move fits with Accenture’s plans to refocus its operations around generative AI, with CEO Julie Sweet saying in September that the firm plans to cut staff who are unable to reskill on artificial intelligence.
What they said: “With Faculty, we will further accelerate our strategy to bring trusted, advanced AI to the heart of our clients’ businesses,” said Julie Sweet, chair and CEO, Accenture. “I’m pleased to welcome the Faculty team to Accenture and look forward to Marc's contribution shaping our technology vision and strategy as Chief Technology Officer."
The source: Accenture
