Accenture has announced plans to acquire Faculty, a company specializing in AI-native services and products, in a move aimed at enhancing its artificial intelligence capabilities. This acquisition is expected to enable Accenture to better assist its clients in leveraging AI solutions to transform their business processes. The announcement was made on January 6, 2024, through a press release from both companies.
The acquisition is contingent upon regulatory approval and other customary closing conditions. Founded in 2014 and based in the United Kingdom, Faculty collaborates with various clients in the public and private sectors to implement AI solutions across the U.K. and other strategic markets. Among its offerings is Faculty Frontier, an enterprise decision intelligence product that aids life sciences companies in planning and executing clinical trials.
Integration and Leadership Changes
Once the acquisition is finalized, Faculty Frontier will be incorporated into Accenture’s suite of products designed to facilitate better and quicker decision-making for organizations. Faculty boasts a team of approximately 400 professionals, including data scientists and AI engineers, who will integrate with Accenture’s existing teams. Faculty CEO Marc Warner will retain his role and will also serve as the Chief Technology Officer at Accenture, contributing to the company’s Global Management Committee.
Accenture Chair and CEO Julie Sweet emphasized the strategic significance of this acquisition, stating, “With Faculty, we will further accelerate our strategy to bring trusted, advanced AI to the heart of our clients’ businesses.” Warner added, “As AI advances rapidly, the ambition of our clients is now, rightly, no less than the reinvention of their business. I am delighted that by teaming up with Accenture, we have everything in place to support AI transformation from start to finish.”
Recent Collaborations and Future Directions
This announcement follows Accenture’s recent collaborations with notable AI companies. In December 2023, Accenture partnered with Anthropic to assist businesses in scaling their AI projects, establishing the Accenture Anthropic Business Group, which aims to train around 30,000 professionals. Additionally, Accenture joined forces with OpenAI to equip its workforce with ChatGPT Enterprise, facilitating the integration of OpenAI’s technology into its consulting and operational practices.
As Accenture deepens its commitment to AI, the acquisition of Faculty positions the company to further influence the landscape of AI-driven business solutions. With a focus on innovation and transformation, this strategic move aligns with Accenture’s broader goal of equipping clients with advanced technologies to thrive in an increasingly competitive environment.
