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AI & Enterprise

Accenture cuts annual revenue forecast; shares plunge 18 percent on AI replacement fears

Accenture lowered its revenue forecast for the current fiscal year, the Wall Street Journal reported. Its shares fell as much as 18 percent in intraday trading, the lowest level in 10 years, amid a hit to Middle East business and concerns that AI could replace parts of consulting work. CEO Julie Sweet said the Iran conflict halted regional operations and curbed client spending. The company said some projects shifted into the next fiscal year.

AI & Enterprise

Accenture says no executive promotion without regular use of AI tools

Accenture is telling senior employees they must use AI tools regularly to be promoted into leadership positions, CNBC reported, citing the Financial Times. An internal email said use of key tools will be a prominent evaluation item in talent discussions. The policy does not apply to staff in 12 European countries or the U.S. government contracting unit. Accenture has also warned it could ultimately dismiss staff who do not complete AI retraining.