AzersonThe company recently announced the acquisition of Udacity, an educational technology startup, with the goal of building a learning platform focused on artificial intelligence. Although the specific amount of the acquisition of Udacity was not disclosed, Accenture also announced that it would invest $1 billion to build a technology learning platform called LearnVantage.
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LearnVantage may not only provide more general technical training, but the company has made it clear that it specifically wants to provide training to enable employees to quickly master artificial intelligence.Leaders“The rise of generative AI represents one of the most profound shifts in the way work is done, driving companies to train and upskill their workforce in cloud, data, and AI to build a digital core and reinvent the enterprise,” Kishore Durg said in a statement.
As for Udacity, founded in 2011, the company made a series of typical statements when it was acquired by an organization as large as Accelerator. Namely, it believed that as part of a larger entity, it could reach more people and help them acquire skills. However, earlier rumors had the company in talks with Indian edtech company Upgrad for $80 million. Obviously, that deal fell through, and Accelerator ultimately took them over.
Whether or not the rumored $80 million price tag is accurate, it’s a steep decline in value for a company that raised nearly $300 million, according to PitchBook, and reached a $1 billion valuation in 2015. As is customary, the deal is subject to regulatory review and antitrust oversight.
Accenture's acquisition of Udacity and its large-scale investment in the LearnVantage platform reflect the growing demand for training and upgrading employees' skills in the field of artificial intelligence, reflecting the urgent need for digital transformation.