Accenture GenAI offering sees momentum in Q1 FY24, signs $450 mn bookings

Amidst an uncertain economic growth and slow IT spends, IT services and consulting firm Accenture’s first quarter FY24 results showed a big pick-up in generative AI spends.

The company reported that it signed $450 million of new bookings in generative AI (Gen AI) for the first quarter of FY24. This is a significant jump from the $300 million signed in the whole of FY23.

“We continue to lead our industry in Gen AI – the great accelerator of reinvention – with over $450 million in new bookings. Demand for Gen AI continued to accelerate in Q1. For many of our clients, 2023 was a year of GenAI experimentation.