Capgemini plans $2.2 bn investment in AI

French IT consulting group Capgemini has posted a 6.9 percent rise in its half-year revenue, driven by its cloud, data and artificial intelligence activities.
Capgemini IT services for digital transformationThe Paris-based group’s revenue was 11.43 billion euros ($12.54 billion) in the first half of 2023, compared to 10.69 billion a year earlier.

IT services company Capgemini today said it would invest 2 billion euros ($2.19 billion) in AI over three years.

The Paris-based company tries to help businesses to adopt AI technology through partnerships with Microsoft and Google Cloud.

“We continue to gain market share as we accompany our clients in their transition towards a digital and sustainable economy … I am convinced that generative AI will play a major role in this transition,” Capgemini CEO Aiman Ezzat said in a statement.

Generative AI, an increasingly powerful form of AI able to generate on its own text, images, and other content, has become popular since the release of OpenAI’s ChatGPT chatbot last November, increasing concerns over issues such as copyright, cybersecurity, privacy and AI replacing human jobs.

Capgemini, which offers consulting, digital, technical and engineering services, reported revenue of 11.43 billion euros in the first half of 2023, compared to 10.69 billion a year earlier.

The company reiterated its 2023 outlook for revenue growth of between 4 percent to 7 percent at constant currency basis.

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