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Accenture (ACN) Adds Sanctuary AI to Its Investment Portfolio
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Accenture plc (ACN - Free Report) shares have had an impressive run over the past year, gaining 22%.
The company announced yesterday that it has made a strategic investment in Sanctuary AI through Accenture Ventures. Sanctuary AI specializes in developing AI-driven humanoid robots designed for general-purpose tasks.
These advanced robots are adept at executing a diverse range of tasks swiftly, safely and efficiently. They can serve as valuable support to human workers, addressing labor shortage challenges to a significant degree.
According to Joe Lui, Accenture’s global advanced automation and robotics lead, there’s immense potential for these humanoid robots across sectors such as manufacturing, postal services, retail, logistics and warehousing.
Geordie Rose, CEO and co-founder of Sanctuary AI, noted that the initiative will assist companies in transitioning towards a workforce enhanced by robots possessing human-like intelligence.
Sanctuary AI is now part of Accenture Ventures’ Project Spotlight, an initiative that combines engagement and investment to offer emerging tech software startups access to Accenture's technological and domain expertise across its G2000 client base.
Our Take
We view these investments as integral to Accenture's broader growth strategy that focuses on delivering 360° value to its stakeholders, mainly through the use of technology. The company is committed to fostering long-term growth by establishing a digital core with the help of AI, cloud and data, and investment in talent. We believe this strategy positions Accenture as a trusted partner and maintains the stock's appeal to investors.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #4 (Sell).
Image: Bigstock
Accenture (ACN) Adds Sanctuary AI to Its Investment Portfolio
Accenture plc (ACN - Free Report) shares have had an impressive run over the past year, gaining 22%.
The company announced yesterday that it has made a strategic investment in Sanctuary AI through Accenture Ventures. Sanctuary AI specializes in developing AI-driven humanoid robots designed for general-purpose tasks.
Accenture PLC Price
Accenture PLC price | Accenture PLC Quote
Humanoids Working Alongside Humans
These advanced robots are adept at executing a diverse range of tasks swiftly, safely and efficiently. They can serve as valuable support to human workers, addressing labor shortage challenges to a significant degree.
According to Joe Lui, Accenture’s global advanced automation and robotics lead, there’s immense potential for these humanoid robots across sectors such as manufacturing, postal services, retail, logistics and warehousing.
Geordie Rose, CEO and co-founder of Sanctuary AI, noted that the initiative will assist companies in transitioning towards a workforce enhanced by robots possessing human-like intelligence.
Sanctuary AI is now part of Accenture Ventures’ Project Spotlight, an initiative that combines engagement and investment to offer emerging tech software startups access to Accenture's technological and domain expertise across its G2000 client base.
Our Take
We view these investments as integral to Accenture's broader growth strategy that focuses on delivering 360° value to its stakeholders, mainly through the use of technology. The company is committed to fostering long-term growth by establishing a digital core with the help of AI, cloud and data, and investment in talent. We believe this strategy positions Accenture as a trusted partner and maintains the stock's appeal to investors.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks from the broader Zacks Business Services sector are AppLovin (APP - Free Report) and Futu Holdings (FUTU - Free Report) .
AppLovin sports a Zacks Rank #1 (Strong Buy) at present. APP has a long-term earnings growth expectation of 20%. You can see the complete list of today’s Zacks #1 Rank stocks here.
APP delivered a trailing four-quarter earnings surprise of 26.5%, on average.
Futu Holdings currently carries a Zacks Rank of 2 (Buy). It has a long-term earnings growth expectation of 19.8%.
FUTU delivered a trailing four-quarter earnings surprise of 18.7%, on average.