Accenture has announced impressive growth in its generative AI (Gen AI) bookings, securing $1 billion in the quarter ending in August and bringing the total for the fiscal year (September-August) to $3 billion. This growth occurs amidst a backdrop of cautious adoption as companies navigate macroeconomic uncertainties.
Despite a sequential decline in overall revenue, interest in Gen AI projects has surged, accounting for 4% of Accenture’s $81.2 billion total order bookings for the year—a year-on-year increase of 12.5%. Julie Sweet, Accenture’s chair and CEO, noted that the company generated nearly $900 million in revenue from Gen AI, up from around $100 million in the previous fiscal year.
Accenture was the first software services firm to report revenue from Gen AI in June 2022, when it recorded $100 million in related projects. In the past fiscal year, the company has reported $400 million, $650 million, and $900 million in Gen AI bookings for the first three quarters, respectively.
Sweet expressed optimism about the potential of Gen AI, likening its transformative impact to that of digital technology over the last decade. The technology gained significant public attention with the launch of ChatGPT in November 2022, known for its rapid content generation capabilities across various media.
However, analysts caution that Gen AI still struggles to move beyond proof-of-concept stages to achieve widespread real-time adoption. The software services sector faced slow growth last year, as companies reduced tech spending amid economic uncertainty. Accenture’s total revenue for the year reached $64.9 billion, marking only a 1.24% increase from the previous year, while revenue for the August quarter fell 0.6% sequentially to $16.4 billion.
Looking ahead, Accenture projects modest full-year revenue growth of 3-6% for the year ending August 2025, reflecting ongoing economic challenges. Analysts describe this guidance as cautious, considering factors such as the upcoming U.S. election and global instability.
Sweet indicated that while the U.S. Federal Reserve’s interest rate cuts might inspire optimism for a recovery in software spending, the overall environment remains cautious. She highlighted that many CEOs are not signaling readiness to increase discretionary spending.
Analysts suggest that while Accenture may gain market share in AI workloads, generative AI will not expand overall budgets; rather, it will require CIOs and CTOs to decide how to allocate existing funds.
Accenture concluded the year with approximately 774,000 employees, having added 24,000 staff in the last quarter, primarily from India, with plans to continue hiring from the region.

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