Accenture acquires Byte Prophecy to enhance AI, analytics capabilities

Photo: Reuters

Global technology major Accenture has acquired Byte Prophecy, an automated insights and big data analytics company based in Ahmedabad, to meet the growing demand for enterprise-scale artificial intelligence (AI) and digital analytics solutions across the region.

Financial details of the acquisition were not disclosed.

The buyout will add nearly 50 data science and data engineering experts, with focus on insight automation, to Accenture’s Applied Intelligence team which focuses on scaling AI. Byte Prophecy is expected to strengthen Accenture’s consulting and technology capabilities in areas such as data foundations and advanced analytics.

“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, India market unit lead & sales lead for growth markets, Accenture. “Beyond advanced technology capabilities, Accenture brings to 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 open innovation efforts, collaborating and co-innovating with Accenture and its clients in Asia Pacific on advanced data and analytics projects.

“Our team has already been working with Byte Prophecy over the past two years, and together we have 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.

Accenture, in a statement, said its 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.

The article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.