The pandemic has undoubtedly forced companies to rethink their business models and accelerate digitalisation for survival. According to Accenture’s research, 84% of C-suite executives believe they must leverage artificial intelligence (AI) to achieve their growth objectives, yet 76% report they struggle with how to scale.
To support AI at scale, a strong data and technology infrastructure is required. Among the fundamental building blocks are leveraging cloud solutions and enabling modern data and AI architecture. Companies must also have capabilities in place for AI practitioners to experiment, develop, and deploy applications at scale.
BIIT Consulting, a Malaysian data management and analytics firm, will join Accenture to better meet the rapidly growing market demand. Accenture's efforts to drive greater AI and data transformation within the Southeast Asian region are complemented by this move, which further solidifies Accenture's market leadership in providing AI and data-led transformation services.
Founded in 2013 and based just outside of Kuala Lumpur, Malaysia, BIIT Consulting helps firms across the region manage, analyse, and extract actionable insights from data. BIIT Consulting boasts a strong track record of serving clients across various sectors, including the financial services, retail, telecommunications, and manufacturing verticals.
The team of approximately 55 highly skilled professionals will join Accenture Malaysia’s Applied Intelligence team, strengthening its ability to offer value to clients in the areas of data management, analytics, and AI. This will also create more learning and growth opportunities for people across both organisations, helping to plug the wide AI talent skill gap the market is experiencing.
Commenting on the announcement, Lee Joon Seong, managing director, Applied Intelligence, Southeast Asia, Accenture said: “The pandemic has accelerated digital transformation and firms are realising that data analytics and AI are the way forward, but they continue to struggle to capitalise on their data fully. The addition of BIIT Consulting’s talent will help bolster our capabilities as we address the growing demand for AI services within the region, and help our clients unlock greater value from their data. We look forward to welcoming them to our Applied Intelligence family.”
BIIT Consulting founders, Veleswaran Nallaiah and Samuel Lee said: “We are excited to come on board as part of Accenture Malaysia’s Applied Intelligence team. They will provide new growth opportunities for our people and enable expanded capabilities to a larger client base. We look forward in bringing and implementing AI for the success of the clients both in Malaysia and regionally together with Accenture.”
Today, AI plays a much more sophisticated role, augmenting decision-making processes and supporting data analysis across functions and industries. A recent Accenture study highlighted that AI has become a high-stakes business priority with the total investment spent on AI estimated to be about US$300 billion in the last three years alone. Accenture is also seeing companies that were able to scale AI successfully enjoy returns on investments of up to three times more than those that are unable to do so. These numbers make a strong case for AI and highlight just how big a role AI plays within businesses today and in the years to come.