Accenture Cloud First with $3 bn investment announced

Accenture announced the formation of Accenture Cloud First with a $3 billion investment over three years to help clients.
Accenture CEO Julie SweetAccenture Cloud First is a group of 70,000 cloud professionals. This new group integrates the company’s cloud expertise, including cloud migration, infrastructure, and application services and ecosystem partnerships.

Karthik Narain will lead Accenture Cloud First and join the Global Management Committee, effective October 1.

Accenture reported approximately $11 billion in cloud revenue in its fiscal year 2019. More than 100,000 Accenture cloud professionals help clients build and operate their businesses in the cloud.

“Digital transformation requires cloud at scale, and post-COVID leadership requires that every business become a ‘cloud first’ business,” said Julie Sweet, chief executive officer, Accenture.

Accenture’s $3 billion investment will be used to advancing — often together with its cloud and technology partners — industry roadmaps, data models, and solutions; cloud AI data and AI architectures.

Karthik Narain will lead Accenture Cloud First based in Silicon Valley. Narain most recently served as the lead for Accenture Technology in North America, helping guide Global 2000 brands in using the power of the cloud and other technologies to transform their businesses.

The latest Gartner report said the public cloud services market is forecast to grow 6.3 percent in 2020 to total $257.9 billion, up from $242.7 billion in 2019.

“When the COVID-19 pandemic hit, there were a few initial hiccups but cloud ultimately delivered exactly what it was supposed to,” said Sid Nag, research vice president at Gartner.