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Capgemini to invest 2 billion euros in AI after higher half-year sales
Global Banking & Finance Review®
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(Reuters) -French IT consulting group Capgemini on Friday posted higher half-year revenue, driven by its cloud, data and artificial intelligence (AI) activities, and said it would invest 2 billion euros ($2.19 billion) in AI over three years.
(Reuters) -French IT consulting group Capgemini on Friday posted higher half-year revenue, driven by its cloud, data and artificial intelligence (AI) activities, and said it would invest 2 billion euros ($2.19 billion) in AI over three years.
The Paris-based company tries to help businesses to adopt AI technology through partnerships with Microsoft and Google Cloud.
“We continue to gain market share as we accompany our clients in their transition towards a digital and sustainable economy … I am convinced that generative AI will play a major role in this transition,” CEO Aiman Ezzat said in a statement.
Generative AI, an increasingly powerful form of AI able to generate on its own text, images, and other content, has become popular since the release of OpenAI’s ChatGPT chatbot last November, increasing concerns over issues such as copyright, cybersecurity, privacy and AI replacing human jobs.
Capgemini, which offers consulting, digital, technical and engineering services, reported revenue of 11.43 billion euros in the first half of 2023, compared to 10.69 billion a year earlier.
The company reiterated its 2023 outlook for revenue growth of between 4% to 7% at constant currency basis.
($1 = 0.9117 euros)
(Reporting by Lina Golovnya and Stéphanie Hamel in Gdansk; Editing by Milla Nissi)
Artificial intelligence (AI) refers to the simulation of human intelligence in machines programmed to think and learn like humans, enabling them to perform tasks such as speech recognition, decision-making, and problem-solving.
Generative AI is a type of artificial intelligence that can create new content, such as text, images, or music, based on the data it has been trained on, often used in applications like chatbots and creative tools.
Cloud computing is the delivery of computing services over the internet, allowing users to access and store data and applications on remote servers instead of local computers, enhancing flexibility and scalability.
Revenue growth refers to the increase in a company's sales over a specific period, indicating the company's ability to expand its business and generate more income.
Partnerships in business involve two or more entities collaborating to achieve common goals, sharing resources, risks, and profits, often enhancing innovation and market reach.
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