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Accenture acquires Byte Prophecy to enhance AI, digital analytics capabilities in emerging markets

Accenture acquires Byte Prophecy to enhance AI, digital analytics capabilities in emerging markets

Accenture acquires Byte Prophecy to enhance AI, digital analytics capabilities in emerging markets
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By CNBC-TV18 May 19, 2020 4:58:11 PM IST (Updated)

Accenture on Tuesday announced acquisition Ahmedabad-based automated insights and big data analytics company Byte Prophecy. Accenture said the acquisition will help meet the growing demand for enterprise-scale artificial intelligence and digital analytics solutions across the region.

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The acquisition will add nearly 50 data science and data engineering experts, with a particular focus on insight automation, to Accenture Applied Intelligence. The move will deepen existing consulting and technology capabilities that help data foundations and advanced analytics clients, the statement added.
“Across industries, decision making has become more complex, and businesses are increasingly relying on advanced analytics and AI to ensure insight driven, rapid decision making,” said Piyush N Singh, market unit lead for India and sales lead for growth markets at Accenture.
“Beyond advanced technology capabilities, Accenture brings our clients a co-innovation mindset, and in Byte Prophecy we found a partner with the right mix of technology and consulting skills, and a client-centric innovation culture.”
Founded in 2011, Byte Prophecy has worked closely with Accenture Ventures since 2018 on innovation efforts.
“Our team has already been working with Byte Prophecy over the past two years, and together we’ve helped clients build the strong data foundations that are the cornerstone for successful AI adoption,” said Athina Kanioura, Accenture’s chief analytics officer and global lead for applied intelligence.
“Officially making Byte Prophecy’s people and capabilities part of Accenture is a testament to the shared vision of shared success we’ve seen in our joint efforts.”
“Our experience working with Accenture has helped us better understand customer pain points and fine-tune our solution to respond with greater agility to clients’ needs,” said Mrugank Parikh, co-founder, Byte Prophecy.
“The opportunity to become part of Accenture Applied Intelligence will enable us to jointly build stronger assets and expand our services to more clients in the emerging markets. We are excited about our journey ahead and are looking forward to exploring the wide opportunities this union will bring to our people and clients.”
Accenture’s acquisition strategy involves delivering on existing, as well as emerging client needs with speed and scale. Over the past year the company has made applied Intelligence acquisitions in Australia, Spain, North America and the UK to enhance its portfolio of technologies and help clients across those markets scale AI.
However, financial terms of the acquisition were not disclosed by the company.
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