RIYADH - Accenture (NYSE: NYSE:ACN) has announced a collaboration with Google (NASDAQ:GOOGL) Cloud to foster the adoption of cloud solutions and generative AI in Saudi Arabia, aiming to meet the country’s data and operational sovereignty requirements. This partnership is set to enhance business opportunities and customer experiences by leveraging a modern digital core and scaling generative AI agents for improved operational efficiency and enterprise intelligence.
The Saudi Data and Artificial Intelligence Authority, in collaboration with Accenture, has reported that generative AI adoption could potentially boost Saudi Arabia’s GDP by four percent. With annual revenues exceeding $66 billion and a strong return on equity of 27%, Accenture has demonstrated its capability to lead such transformative initiatives. For detailed insights into Accenture’s financial metrics and growth potential, InvestingPro subscribers have access to over 12 additional exclusive ProTips and comprehensive financial analysis. To capitalize on this, Accenture and Google Cloud are expanding their Generative AI Center of Excellence (CoE) to the region, providing local organizations with advanced industry solutions and products, including generative AI agents. The collaboration combines Google Cloud technologies with Accenture’s industry solutions to transform ideas into tangible value through significant generative AI projects in production.
Dr. Majid Altuwaijri, Accenture’s KSA chair and country managing director, highlighted the partnership’s role in bringing new capabilities to the region and transforming how Saudi organizations can reinvent products, services, and experiences. The joint CoE aims to pioneer digital sovereignty and develop secure, compliant, resilient, and future-ready systems.
Google Cloud’s country manager for Saudi Arabia, Bader Almadi, emphasized the importance of combining leading technology with services expertise for the successful deployment of generative AI, noting that customers will benefit from the resources needed to plan, deploy, and optimize generative AI projects.
The General Organization for Social Insurance (GOSI) in Saudi Arabia serves as an example of an organization that has utilized generative AI capabilities to design and prototype a scalable, secure AI environment on cloud technology, enabling developers, data scientists, and researchers to experiment with the latest AI models, tools, and technologies.
Accenture and Google Cloud are also committed to developing local talent through training programs, hackathons, and hands-on labs. Accenture’s technology training and learning services, including Accenture LearnVantage, offer tailored upskilling programs and managed services to support local professionals in harnessing cloud and generative AI capabilities effectively.
This initiative is based on a press release statement and aims to accelerate business outcomes for clients in Saudi Arabia by leveraging the combined expertise of Accenture and Google Cloud. Trading near its 52-week high with a P/E ratio of 32.18, Accenture continues to demonstrate strong market performance. Investors seeking detailed analysis can access Accenture’s comprehensive Pro Research Report, available exclusively on InvestingPro, along with in-depth financial metrics and expert insights for over 1,400 US stocks.
In other recent news, Accenture has been making strategic moves to expand its supply chain capabilities and enhance its digital services. The company announced its agreement to acquire Staufen AG, a German consulting firm known for its expertise in optimizing value chains and implementing digital manufacturing initiatives. This acquisition is expected to enhance Accenture’s services in sectors such as automotive, aerospace, industrial goods, and medical equipment.
Accenture has also partnered with Italy’s largest cooperative banking group, BCC Iccrea Group, to advance its IT transformation goals. This collaboration is part of a comprehensive IT reinvention strategy, which includes a significant investment exceeding €300 million over the next three years.
Furthermore, Accenture has made strategic investments in Workera, an AI-powered skills intelligence platform, and QuSecure, a company specializing in post-quantum cybersecurity. These investments aim to accelerate the adoption of skills-based training and workforce development in technology, data, and AI, and to provide comprehensive solutions to secure government and private sector networks against potential quantum computing threats, respectively.
In addition to these developments, Accenture’s shareholders approved several key proposals at the company’s recent annual general meeting, including the appointment of directors, the compensation for Accenture’s named executive officers, and the creation of additional distributable reserves through a capital reduction.
These recent developments reflect Accenture’s ongoing commitment to innovation, digital transformation, and cybersecurity.
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