Accenture plc (ACN) and Unilever plc (UL) have announced a significant expansion of their strategic partnership aimed at transforming Unilever’s digital infrastructure and harnessing the power of generative AI. This collaboration will enhance efficiency and agility across Unilever’s global operations. The multi-year program focuses on establishing a new industry benchmark for productivity powered by generative AI.
Unilever plans to scale successful AI use cases that have already demonstrated worldwide cost savings and operational efficiencies. Hein Schumacher, CEO of Unilever, highlighted the success of their initial AI implementations, which introduced 500 AI applications and achieved notable efficiency gains. He emphasized the potential for further advancements with Accenture’s support, stating that deeper AI integration is a key part of their strategy to accelerate growth and performance.
Unilever will utilize Accenture’s GenWizard platform, which boasts over 350 patents and a suite of tools and frameworks designed to meet various technology objectives. This platform will play a crucial role in expediting Unilever’s technology and digital product development.
Julie Sweet, Chair and CEO of Accenture, praised the extended collaboration, noting that it will set a new standard for scaling generative AI in enterprise settings. She emphasized that the GenWizard platform will help Unilever achieve efficiencies, discover innovative work methods, and gain a competitive edge. This enhanced partnership builds on previous efforts to explore and apply generative AI across Unilever’s operations, including new projects from its “Horizon3 Labs.”
In the past year, UL stock has gained over 30%, and investors can gain exposure to the stock via Absolute Select Value ETF (ABEQ) and Keating Active ETF (KEAT). ACN stock has gained over 5% in the past year, and investors can gain exposure to the stock via Trust for Professional Managers Jensen Quality Growth ETF (JGRW) and iShares U.S. Tech Independence Focused ETF (IETC).
On Wednesday, ACN shares closed higher by 0.62% to $343.99. UL shares are trading higher by 0.15% to $65.20 at premarket trading on Thursday.
This collaboration represents a significant step forward in the adoption of generative AI in the business world. By leveraging Accenture’s expertise and GenWizard platform, Unilever aims to transform its operations, achieve greater efficiency, and gain a competitive advantage in the global market.
