Capgemini to invest $1Bn in generative AI
PARIS, FRANCE — French IT consulting firm Capgemini will invest €2 bilion (US$1 billion) in generative artificial intelligence (AI) over the next three years, despite experiencing sluggish Q2 growth.
The company has a workforce of approximately 349,500 and expects to double the size of its data and AI department employees to 60,000.
This initiative complements their recent introduction of a new set of generative AI solutions, spanning strategy development to large-scale implementation.
The firm, however, experienced muted Q2 growth, reflecting a widespread regional slowdown and unexpected softness in the U.S. market, prompting a dip in its share price. The group reported a quarterly sales growth of 5.2% at constant exchange rates, a drop from Q1’s 10.7%.
Despite the lukewarm results, the group’s half-year revenue climbed 7.9% at constant rates to €11.4 billion (US$12.5 billion), driven by demand for digital transformation services, including AI.
CEO Aiman Ezzat expressed confidence in generative AI, predicting it will play a pivotal role in the industry’s transition.
