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After ten months in development, PwC UK has opened the doors on its new AI and technology innovation unit, Tech Catalyst. Described by the firm as bringing together human centric design and technical capabilities in AI, cloud, data and software engineering, the facility aims to fast-track technology, AI, and data-driven transformation for both its clients and its own service delivery. Tech Catalyst also contains an emerging tech research function to help clients assess the opportunities of new technologies.
The establishment of the innovation hub marks a continuation of the firm’s investment into the AI arena. Since 2002, PwC has spent some $1bn globally on expanding its AI capabilities. Two years ago, the UK arm of the firm announced its plan to pump £100m into emerging tech (see here). These initiatives have been bearing fruit. TMV’s latest AI Market Readiness Index report identified PwC as a member of the Leading Pack of suppliers in this UK services domain (see here).
From an IT services revenue growth perspective, however, it is likely that to be the firm’s Gen AI related success will have been coming largely at the expense of sales of more traditional lines of business. Times have been proving tougher for the Big Four in the consulting arena over the last couple years. News surfaced this week, for example, that Deloitte UK’s Technology & Transformation division has fallen materially short of its FY25 performance goals (see here).
Posted by: Duncan Aitchison at 09:49
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AI
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