Javed is a senior editor at TIME, based in the London bureau. Javed is a senior editor at TIME, based in the London bureau. How do you see your clients adopting AI and grappling with the rapid changes it is bringing? CEOs have identified that AI is simple to try and hard to scale, and that's why they come to Accenture. And you can see that in the explosive growth of our advanced AI practice over the past couple of years.

President Donald Trump's administration has dramatically expanded its work with Palantir, elevating the company cofounded by Trump ally Peter Thiel as the government's go-to software developer. Following massive contract terminations for consulting giants and government contractors like Accenture, Booz Allen, and Deloitte, Palantir has emerged ahead. Now the data analytics firm is partnering with those companies--offering them a lifeline while consolidating its own power. Palantir has become one of the few winners in the Trump administration's cost-cutting efforts, receiving more than 113 million in federal spending since the beginning of the year, according to The New York Times. Palantir's US government revenue has grown by more than 370 million compared to this time last year, according to the company's most recent quarterly earnings report.

The Swedish buy-now-pay-later company Klarna has become something of a poster child for the potential benefits of generative artificial intelligence. The company relies on AI to create and tailor promotional images and to draft marketing copy, saving millions of dollars. Earlier this year it said an AI chatbot assistant was doing the work of 700 human customer-service agents, which it forecast would boost profits by 40 million this year. Klarna's approach highlights generative AI's promise for powering businesswide systems, like customer service. U.S. businesses are investing in AI, and they're eager to see such gains.

Artificial intelligence is likely to replace or at least lend a hand in tasks that take up almost three-quarters of the time bank employees now spend working. That's the conclusion of a new analysis by consultancy Accenture, which said banking has the potential to benefit more from the technology than any other industry. Just 27% of employees' time currently has a low potential of being transformed, according to the analysis. "There is a reinvention that is happening across banks, a way for firms to step back and reevaluate ways of working," Keri Smith, global banking data and AI lead at Accenture, said in an interview.

A month ago, the consulting company Accenture presented a potential client an unusual and attention-grabbing pitch for a new project. Instead of the usual slide deck, the client saw deepfakes of several real employees standing on a virtual stage, offering perfectly delivered descriptions of the project they hoped to work on. "I wanted them to meet our team," says Renato Scaff, a senior managing director at Accenture who came up with the idea. "It's also a way for us to differentiate ourselves from the competition." The deepfakes were generated--with employees' consent--by Touchcast, a company Accenture has invested in that offers a platform for interactive presentations featuring avatars of real or synthetic people.

Generative AI has significantly reduced the entry barrier to the domain of AI owing to the ease of use and core capabilities of automation, translation, and intelligent actions in our day to day lives. Currently, Large language models (LLMs) that power such chatbots are being utilized primarily for their automation capabilities for software monitoring, report generation etc. and for specific personalized question answering capabilities, on a limited scope and scale. One major limitation of the currently evolving family of LLMs is 'hallucinations', wherein inaccurate responses are reported as factual. Hallucinations are primarily caused by biased training data, ambiguous prompts and inaccurate LLM parameters, and they majorly occur while combining mathematical facts with language-based context. Thus, monitoring and controlling for hallucinations becomes necessary when designing solutions that are meant for decision makers. In this work we present the three major stages in the journey of designing hallucination-minimized LLM-based solutions that are specialized for the decision makers of the financial domain, namely: prototyping, scaling and LLM evolution using human feedback. These three stages and the novel data to answer generation modules presented in this work are necessary to ensure that the Generative AI chatbots, autonomous reports and alerts are reliable and high-quality to aid key decision-making processes.

In the following sections, we discuss some of the ways that the Accenture Velocity team has been using CodeWhisperer in more detail. CodeWhisperer helps developers unfamiliar with AWS to ramp up faster on projects that use AWS services. New developers in Accenture were able to write code for AWS services such as Amazon Simple Storage Service (Amazon S3) and Amazon DynamoDB. In a short amount of time, they were able to be productive and contribute to the project. CodeWhisperer assisted developers by providing code blocks or line-by-line suggestions.

There's been a lot of discussion on the use of artificial intelligence and the future of work. Will human creativity be usurped by bots? How will A.I. be incorporated into the finance function? These are just some of the questions organizations will face. I asked Sayan Chakraborty, copresident at Workday (sponsor of CFO Daily), who also leads the product and technology organization, for his perspective on a balance between tech and human capabilities.

The future of insurance is here! With the rise of AI, predictive analytics, and chatbots combined with cutting-edge tech like drones, blockchain technology and IoT taking center stage - even the FBI has taken notice. Get ready for a revolution in how we use technology to secure our futures. Then came 2022, when insurers focused on pandemic recovery and meeting customer expectations for digitization and personalization. While adapting to the latest insurance technologies was a challenging experience for many carriers, those who did are selling more benefits faster and smarter than ever before. From underwriting and claims to the customer journey and distribution methods, here are the top insurance technology trends our team believes will be beneficial to carriers in 2023.

This post is co-written by Zdenko Estok, Cloud Architect at Accenture and Sakar Selimcan, DeepRacer SME at Accenture. The creation of a scalable and hassle-free data science environment is key. It can take a considerable amount of time to launch and configure an environment tailored for a specific use case and even harder to onboard colleagues to collaborate. According to Accenture, companies that manage to efficiently scale AI and ML can achieve nearly triple the return on their investments. Still, not all companies meet their expected returns on their AI/ML journey.