The Unrivalled Leader in GenAI

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THE WEEKLY NEWSLETTER OF AIM. Sunday, Mar 24, 2024 | Was this email forwarded to you? Sign up here By Amit Naik Accenture has once again set a remarkable benchmark. In the second quarter of fiscal year 2024, the global professional services company recorded $1.1 billion in generative AI sales, surpassing all VC-backed startups combined in revenue, showcasing confidence like no other. Accenture’s early triumphs in GenAI contrast starkly with leading domestic technology service providers like TCS, Infosys, Wipro, and HCL Technologies. These companies, showing low confidence in the technology, have not shared their earnings specifically pertaining to GenAI, which is seen as a significant risk within the outsourcing industry. Shares of the Indian IT giants fell 3-5% on Friday morning following Accenture’s earnings announcement. Though the companies haven’t made any major announcements about the impact of generative AI on revenue growth, they are quite vocal about its impact on their clients’ business and are also training their employees in GenAI. Notably, Accenture has been aggressively expanding its talent pool. “We now have over 53,000 skilled data and AI practitioners against our goal of doubling our data and AI workforce from 40,000 to 80,000 by the end of fiscal year 2026,” said Sweet. So far, the company claims to have trained over 600,000 employees in AI.  She further said that despite the uncertain macroeconomic conditions, the company has about 39 customers with over $100 million in quarterly bookings. Some of its notable clients include Merck, Mondelēz International, Telstra, Riyadh Air, ExxonMobil and Best Buy, among others, enabling technology and digital transformations and generative AI initiatives.  Interestingly, Accenture is also working with McDonald’s Corporation to integrate cloud technology and GenAI to revolutionise customer and employee experience.  Accenture has also been actively partnering with OpenAI rivals such as Cohere and Anthropic to accelerate generative AI adoption across enterprises. Indian IT companies, on the other hand, have not yet invested in or directly partnered with notable GenAI startups.  Enjoy the full story here. TOP STORIES OF THE WEEK >> Ruff, the Fastest-Growing Python Linter Ever Ruff, a Python linter written in Rust, created by Charlie Marsh in 2022, recently hit a major milestone with over 400 contributors on GitHub. Marsh posted on X: “Just got confirmation that an >8M LoC codebase successfully migrated to Ruff format.” Compared to Flake8, Pylint or Black, Ruff is extremely fast and accurate and is quickly adopted by the community. Read the full story here.  What will AGI ‘Look and Feel’ Like in Five Years? Recently, NVIDIA chief Jensen Huang said it would take the world five years to reach AGI, with certain conditions applied, thereby reigniting the AGI discussions that often lose momentum.  While the ‘when’ aspect seems to be hotly debated by AI experts, the ‘look and feel’ of AGI remains undetermined. Read to find out. NVIDIA Rewrites Moore’s Law with Blackwell NVIDIA has sounded the death knell for Moore’s Law with the release of Blackwell. This advanced computing platform, designed for real-time generative AI and large language model processing, offers significantly reduced cost and energy consumption, giving rise to a new era of ‘Huang’s Law’, as you may call it. Read the full story here.  PEOPLE & TECH >> Meet the Creator of Moxie Robot When Moxie’s inventor Paolo Pirjanian, former NASA Mars Rover roboticist and founder of Embodied Inc, visited Bengaluru last month, his focus was on exploring the Indian market. In an exclusive interview with AIM, Pirjanian outlined his company's vision and discussed how they tackled the language diversity challenges. Read more here. AIM VIDEOS >> [Must Watch] The Hottest AI Concert of the Year | NVIDIA GTC 2024  In our latest episode in the reaction video series, we bring you the most exciting advancements from one of the hottest tech conferences in the world, NVIDIA GTC 2024. HACKATHONS >> Bhasha Techathon, where Innovation Converges with Impact! MachineHack, in collaboration with Digitial India Bhashini Division, and Google Cloud, has launched Bhasha Techathon, a first-of-its-kind hackathon to build effective and indigenous solutions to language-specific challenges.  Register now. AIM SHOTS >> Star Sports, the official broadcaster of Tata IPL 2024, is introducing AI-powered enhancements that include a translation feature. This feature allows international commentators to speak in Hindi and other regional languages in their original voices, creating a more engaging experience for a diverse audience. Read more here.  Stability AI founder and CEO Emad Mostaque has resigned to pursue decentralised AI initiatives. He has also stepped down from the company’s board of directors. The founder of Figure AI, Brett Adcock, recently said that people will soon own robots, similar to how they currently own smartphones and cars.  Deloitte recently inaugurated three brand-new workplace hubs in India, strategically positioned in the bustling cities of Bengaluru, Noida, and Pune. Databricks has announced a significant growth of over 80% in its India business over the past two fiscal years, fueled by the rising demand for data and AI capabilities among Indian enterprises. Stition.ai recently unveiled an open-source AI software engineer alternative to Devin, called Devika. Read more here.  Download our mobile app Access our stories, video content and events on the go. Stay Connected info@analyticsindiamag.com © 2024 Analytics India Magazine Pvt Ltd and/or its affiliates. All rights reserved. For more information, email info@analyticsindiamag.com

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