Accenture announced on Tuesday that it was purchasing Flutura, a company that offers internet of things (IoT) and data science services, for an undisclosed sum to expand the range of industrial AI services it offers under the Applied Intelligence banner.
The acquisition is significant because 70% of Accenture’s Applied Intelligence offerings come from the Asia Pacific region. The contributions from other regions, including EMEA, North America, and Latin America, are 15%, 10%, and 5%, respectively.
According to a Gartner analysis done in 2022, Accenture also has the top spot in the market for industrial AI services, followed by Deloitte. The market research company projects that by the end of 2024, the global market for data and analytics (D&A) services will be worth $232 billion.
According to a joint announcement from the two firms, Accenture intends to offer Flutura’s capabilities to clients in the energy, chemicals, metals, mining, and pharmaceutical sectors.
“Flutura’s acquisition will power industrial AI-led transformation for our clients globally and particularly in Australia, South-East Asia, Japan, Africa, India, Latin America, and the Middle East,” senior managing director at Accenture, Senthil Ramani, said.
According to Ramani, Flutura democratizes AI for engineers, giving manufacturing and other asset-intensive businesses the carbon intelligence to lower emissions, energy use, and lost output due to unscheduled downtime of industrial assets.