Accenture has announced its agreement to acquire Faculty, a UK company specialising in AI services and products. Faculty provides applied AI services and a decision intelligence system with simulation and optimisation features.
Founded in 2014, Faculty has worked with public and private sector clients, implementing AI solutions that focus on safety and scalability. Their services range from AI strategy and design to the implementation of AI systems.
Faculty’s offerings include measures to promote AI safety. They aim to address key challenges such as bias, privacy concerns, and opaque outcomes by ingraining safety measures at each development stage. They collaborate with AI institutions such as OpenAI and the UK AI Security Institute, with the goal of meeting rigorous safety standards.
Upon the finalisation of this acquisition, Faculty, with over 400 AI professionals including top data scientists and AI engineers, will integrate with Accenture's team to assist in delivering AI services worldwide.
Marc Warner, CEO of Faculty, will take on the role of Chief Technology Officer at Accenture and will join the firm's Global Management Committee. Accenture aims to leverage Warner’s experience, including his time as a Research Fellow in Quantum Physics and service on the UK’s AI Council.
This acquisition is set to enhance Accenture's product suite, with Faculty's enterprise decision intelligence product being integrated to aid organisations in making swift, informed choices. Companies in the life sciences sector, including Novartis, are collaborating through this partnership.
Accenture's Manish Sharma, Chief Strategy and Services Officer, highlighted the synergy between the two companies, indicating that combining Faculty’s workforce with Accenture’s offerings will improve clients' operations by integrating data, processes, and people into a unified AI system.
Additionally, Accenture will extend Faculty’s Fellowship Program, which supports STEM graduates entering the field of AI, to a global audience. The program has helped participants transition from academic to industry roles.
The completion of the acquisition is contingent on customary regulatory approvals, with the terms remaining undisclosed at this time.
