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Accenture, a global professional services company, announced earlier this month the launch of Accenture LearnVantage, a $1 billion investment over three years in an AI-powered learning platform designed to help clients upskill their workforce and leverage new technologies. The move comes as companies across industries struggle to find talent with the necessary skills in areas such as generative artificial intelligence, cloud computing and cybersecurity.
Kishore Durg, global leader of Accenture LearnVantage, recently sat down with VentureBeat to talk about this big announcement and what it means for the company. He helped shed light on what it means for the company and why it comes at the right time.
“As we continue to help our clients develop new solutions in response to new market realities, one of the biggest challenges they face is increasing their ability to leverage innovative technologies to achieve greater business value,” Durg said. “According to Accenture research, business leaders say their biggest challenge is the inability to upskill employees, and 51% of organizations are beginning to see the negative effects of widening IT skills shortages.”
Expanding opportunities through acquisitions and partnerships
Accenture LearnVantage aims to fill this gap by offering personalized learning paths based on the best content from Accenture and third-party providers. The platform's AI recommendation engine will guide individuals to the most relevant skills based on their roles and the company's business strategy. “It is supported by an always-on skills assistant that provides relevant knowledge at the moment of need in a way that is easy to consume, apply and measure,” Durg explained.
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The launch of Accenture LearnVantage is supported by the company's recent acquisition of digital education pioneer Udacity. “As a pioneer in digital education, Udacity will bring to Accenture expanded capabilities to integrate proprietary content, expert services and scalable learning technology, which is consistent with Accenture's long-standing approach to learning through formal training, learning by doing and expert coaching,” he said Durg VentureBeat.
Accenture LearnVantage will also partner with technology giants such as AWS, Google Cloud and Microsoft to provide the joint client with generative AI content, industry-relevant technology training and cloud certifications. These partnerships, along with Accenture's deep industry expertise, will enable the platform to offer tailored and contextual learning experiences for specific industries.
Meeting the demand for generative AI skills
As demand for generative AI skills skyrockets, with 94% of employees willing to learn but only 5% of companies providing training at scale, Accenture LearnVantage is well-positioned to help clients meet this challenge. “We are seeing tremendous interest from senior leaders, especially those who want to learn more about GenAI's capabilities so they can make the right decisions about GenAI applications and fund the right programs,” Durg noted.
Accenture's $1 billion investment in LearnVantage underscores the growing importance of upskilling and reskilling in the face of rapid technological change. With its AI-powered platform, deep industry knowledge and a robust partner ecosystem, Accenture LearnVantage has the potential to become a major player in the enterprise learning market and help companies across industries stay competitive in the age of AI.