Capgemini To Fund 2 Billion Euros in AI

CIOTechOutlook Team | Friday, 28 July 2023, 08:50 IST

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The cloud, data, and artificial intelligence (AI) activities of the French IT consulting firm Capgemini helped the company report increased half-year revenue. Capgemini also announced that it would invest 2 billion euros ($2.19 billion) in AI over the next three years. Through agreements with Microsoft and Google Cloud, the Paris-based company attempts to assist enterprises in using AI technology.
 
"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," CEO Aiman Ezzat said in a statement.
 
Since the launch of OpenAI's ChatGPT chatbot in November of last year, generative AI, an increasingly potent type of AI that can produce text, graphics, and other content on its own, has gained popularity, raising concerns about copyright, cybersecurity, privacy, and AI taking over human employment. The consulting, digital, technical, and engineering services provider Capgemini reported revenue of 11.43 billion euros in the first half of 2023 as opposed to 10.69 billion in the same period in the previous year.
 
The business confirmed its forecast for revenue growth of 4% to 7% on a constant currency basis in 2023. As a business for data processing and enterprise management, Serge Kampf launched it in 1967. 
 
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