9 Latest AI News Updates Investors Should Not Miss

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1. Accenture Plc (NYSE:ACN)

Number of Hedge Fund Holders: 79

Accenture Plc (NYSE:ACN) offers diverse services for agile transformation, data analytics, intelligent automation, AI, and software engineering. The technology company is striving to accelerate R&D and deployment of AI agents using Nvidia’s (NASDAQ:NVDA) AI offerings for faster placement of multi-agent networks for seamless integration into enterprise systems. It is also upgrading its core banking modernization capabilities via platform acquisitions, enabling data unification from legacy and modern banking architectures for product development.

On February 20th, Accenture (NYSE:ACN) announced that it invested in Voltron Data, which develops software to advance accelerated computing that underpins modern AI applications. The investment will enable Voltron Data to help organizations leverage advanced computing technology to expedite large-scale analytics used for GenAI and machine learning applications.

“Banks are sitting on an enormous amount of trapped data with the potential to fuel the next generation of AI-powered products and services. Through its Theseus software, Voltron Data can enable banks and others to unlock their data and then quickly move, scale and analyze it in a way that is both cost-effective and sustainable. It’s like transforming a one-lane road into a multi-lane highway.”

-said Michael Abbott, Banking & Capital Markets industry group lead at Accenture Plc.

While we acknowledge the potential of Accenture Plc (NYSE:ACN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than ACN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

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