Deloitte Invests $2 Billion to Accelerate IndustryAdvantage™ for its Clients

News provided by

Apr 04, 2024, 09:00 ET

Investment includes an industry-focused technology incubator, co-investment with alliances, GenAI enabled accelerators and workforce development

NEW YORK, April 4, 2024 /PRNewswire/ -- As technology rapidly evolves, businesses across industries are increasingly reimagining and building products and services to better serve their customers and grow their businesses. To help with this transformation, Deloitte today announced a strategic $2 billion investment in IndustryAdvantage™.

This strategic investment creates new approaches to rapidly building industry-focused solutions by leveraging domain experience, coupled with the principles of modern engineering, AI and cybersecurity. This is designed to help accelerate industry-proficiency programs for Deloitte professionals with a focus on applied technology. In addition, the commitment includes co-investment with Deloitte's eligible clients and alliances to target new industry and sector-specific problems, leveraging Deloitte's industry-specific assets, including more than 100 Generative AI (GenAI) enabled accelerators and new business offerings.

"We have built our industry knowledge and capabilities through the experience of our Deloitte professionals, and by serving nearly 90% of companies in the Fortune 500. We're committed to delivering best in class service and support to our clients through the strength of our multi-disciplinary model, increasingly helping them disrupt and transform across every industry and domain," said Jason Girzadas, CEO of Deloitte US. "Our strategic investment in IndustryAdvantage and co-innovation with our eligible clients and alliances can help drive impactful transformation for our clients."

Accelerating industry transformation with technology
Deloitte is also building a new suite of industry-specific GenAI-enabled accelerators as well as enhancing its cloud-native Converge™ by Deloitte platforms with GenAI capabilities that are already supporting leading health care, banking, retail, public sector and insurance clients. Deloitte's suite of industry-specific GenAI-enabled accelerators are built using Deloitte's Trustworthy AI™ framework to help manage AI-related risks. These AI-enabled tools and solutions are tested and designed to drive innovation, enhance processes, and deliver insights across various sectors based on the Global GenAI Market Incubator which has built and deployed hundreds of industry specific implementations since its launch in 2023.

Bringing together the power of Deloitte and its alliances
The investment also includes an expansion of co-investments via industry focused incubators with some of Deloitte Global's leading ecosystem of alliances in a series of short sprints with product innovation and engineering. Deloitte will also expand its ecosystem to include emerging AI companies to help Deloitte and its clients remain at the forefront of technological advancements.

"Our deep relationships with leading technology companies are central to how we deliver transformative value to our clients across all of our businesses," said Lynne Sterrett, vice chair, US Clients, Industries & Insights and principal, Deloitte Consulting LLP. "One of our goals with IndustryAdvantage is to speed solutions to market, and together with our alliances and clients, we can build, test, iterate and rapidly deploy new solutions. Today's market requires speed, and the work we're collectively doing provides our clients with access to the latest technologies, including those breaking down barriers in the GenAI space, which can increase our clients' speed to market."

IndustryAdvantage training and certification for Deloitte professionals
In the current era of disruption and transformation, professional growth becomes a more dynamic, always-on endeavor. Central to this investment is the ongoing development of Deloitte's workforce through an industry-credentialing curriculum for 25,000+ professionals, 70+ industry learning programs featuring GenAI and Deloitte's Technology Academy, which will offer training to more than 100,000 Deloitte professionals on cutting-edge technologies.

Driving targeted industry transformation for growth
As part of this investment, Deloitte is reorganizing the way it invests in capabilities and solutions to take a more rapid and agile innovative approach, leveraging the significant investments in engineering capabilities it has made over the past number of years. It is also reorienting the insights and perspectives it brings to the market on the application of mature and emerging technologies to the industry-specific challenges enterprises are tackling today and looking to the future.

"We are seeing industries transform at an unprecedented pace due to disruptive technologies, rapidly changing business models, customer preferences and increasingly dynamic and complex ecosystems," said Michael Stephan, US Consulting Clients & Industries Leader, Deloitte Consulting LLP. "IndustryAdvantage helps our clients drive more than back-office transformation; it's an intimate understanding of what drives our clients' businesses in order to help them gain a competitive advantage, accelerate and shape the future of their industries."

About Deloitte's IndustryAdvantage
With IndustryAdvantage, we give our clients access to the full breadth of thinking, experience, and technology from across Deloitte, our people, and our ecosystems. Because of our deep sector knowledge, we can apply these capabilities in a targeted way to help our clients differentiate their businesses from the rest of the industry. Deloitte's targeted approach to core business transformation is guided by our understanding of the future of industries. Our industry capabilities are informed by the collective insights of our strategy, engineering and innovation talent, our external ecosystems and alliances; and our broad experience delivering business-critical work for our clients. We demonstrate areas of disruption for your industry and then implement what can help your business create sustainable advantage.

For additional information and case studies on how Deloitte works with clients to create IndustryAdvantage, visit our website.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

SOURCE Deloitte