Accenture | Who are the leaders in artificial intelligence?

An Accenture study reveals that only 12% of the largest companies by market capitalization qualify as leaders in artificial intelligence (AI). But their results speak for themselves: 50% or more revenue growth on average compared to peers, 40% more likely to see their value increase, 3.5 times more likely to have income from AI that exceeds 30% of their total revenue… Michel Cloutier, Head of Data Science and Machine Learning Engineering for Canada at Accenture, introduces you to these AI giants and how to inspire you from their practices.

Posted at 7:30 a.m.

Understanding AI maturity

Companies can be positioned along a “Foundation” axis based on their adoption of cloud computing, data, architecture and governance. A second component called “Differentiation” assesses their strategy and senior management support for artificial intelligence as well as their culture of innovation. Leaders in AI are those rare companies that excel in both spheres at the same time. Their strategic vision and their culture of innovation are as critical as the robustness of their algorithms.

Accenture Who are the leaders in artificial intelligence

5 success factors

1. Promote AI
Even in a traditional industry like construction, artificial intelligence is fueling the growth of leaders. For example, Australian-based multinational Lendlease Group uses AI and advanced modeling to develop digital architectural plans. These are then used to manufacture entire buildings in the factory, in the form of kits to be assembled.

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Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

Support from senior management, a culture of innovation, vehicles for experimentation and learning and a bold vision: this is the support that artificial intelligence needs.

Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

2. Invest heavily in talent
Where to recruit AI data experts, a specialized workforce in high demand? US utility company Exelon found its own in-house, founding the Analytics Academy training school to upskill its own employees. A 41-year-old maintenance worker even became a quantitative analyst. He builds predictive models for the same equipment he maintained.

Acquisitions and partnerships are other ways to obtain the talent needed to execute its artificial intelligence strategy.

Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

3. Industrialize tools and teams
Talents, business model, processes, technologies, data: all of this must be calibrated carefully and at a high level to adopt artificial intelligence and stand out in the market. What should be prioritized?

Automation is key. If processes like infrastructure monitoring, modeling, stakeholder reporting, and rolling out new features aren’t automated, they will eventually break down.

Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

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4. Design AI responsibly
An archer who shoots an arrow must take into account many other elements than his only target and his shot, such as the direction of the wind and moving obstacles. Similarly, companies must use AI with good intentions and take the necessary ethical and regulatory precautions from the start.

Organizations that uphold their values ​​and principles recognize their responsibility to mitigate the risks inherent in the immense power of artificial intelligence.

Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

5. Prioritize investments
Artificial intelligence is a source of wealth in the short and long term; the leaders who benefit the most are also those who invest the most. Two years after embarking on its digital shift, the American pharmacy chain Walgreens Boots Alliance has developed more than a hundred applications using artificial intelligence to optimize its prices and stocks based on highly precise profiles of its customers. And that’s just the beginning.

By 2024, artificial intelligence alone is expected to account for 34% of the leaders’ information technology budget.

Michel Cloutier, Head, Data Science and Machine Learning Engineering for Canada, Accenture

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Accenture | Who are the leaders in artificial intelligence?


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