Accenture Invests in Sanctuary AI to Bring AI-Powered, Humanoid Robotics to Work Alongside Humans

Rhea-AI Summary

Accenture (ACN) announces strategic investment in Symend to enhance customer engagement and debt recovery solutions.

Positive

• Accenture (ACN) has made a strategic investment in Symend, a leading provider of customer engagement and debt recovery solutions.
• The investment aims to enhance Accenture's capabilities in customer engagement and debt recovery services.
• Symend's innovative technology and data-driven approach attracted Accenture to make this investment.
• This strategic move is expected to benefit both companies by leveraging their respective strengths in the market.

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• None.

NEW YORK & VANCOUVER, British Columbia--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Sanctuary AI, a developer of humanoid general-purpose robots that are powered by AI and can perform a wide variety of work tasks quickly, safely and effectively.

“AI-powered humanoid robots are essential to reinventing work and supporting human workers as labor shortage is becoming an issue in many countries and industries,” said Joe Lui, Accenture’s global advanced automation and robotics lead. “Sanctuary AI’s advanced AI platform trains robots to react to their environment and perform new tasks with precision in a very short time. We see huge potential for their robots in post and parcel, manufacturing, retail and logistics warehousing operations, where they could complement and collaborate with human workers and automate tasks that traditional robotics can’t.”

Sanctuary AI’s general-purpose robot Phoenix^™, recently recognized as one of TIME magazine’s “Best Inventions of 2023,” can perform a multitude of work tasks. For instance, at a Mark’s retail store in Langley, BC, Canada, Phoenix has performed more than 100 tasks, including choosing and packing merchandise, and correctly cleaning, tagging, labeling and folding items, with robotic hands that rival human hand dexterity and fine manipulation. Phoenix is powered by the company’s AI control system, Carbon^™, which mimics subsystems found in the human brain, such as memory, sight, sound and touch, and translates natural language into action in the real world.

Geordie Rose, chief executive officer and co-founder of Sanctuary AI, said: “Robots with human-like intelligence will completely transform the workforce of the future. By combining Accenture’s expertise in disruptive technology with Sanctuary AI’s industry-leading robotics, we can help some of the biggest companies in the world manage this change and provide the best solutions for its clients.”

Accenture’s Technology Vision 2024 report found that 95% of executives surveyed agree that making technology more human will massively expand the opportunities of every industry. The report calls for taking a balanced, ‘human by design’ approach that ensures companies use technologies fairly and responsibly. Sanctuary AI is making this a reality by embedding Explainable AI in the Phoenix robot in order to feature reasoning, task and motion plans that can be defined and audited.

Accenture has previously invested in other robotics areas, for example, through Accenture Alpha Automation, a recently formed joint venture with Japanese robotics leader Mujin, and acquisitions of Eclipse Automation in Canada and Pollux in Brazil. Sanctuary AI is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology startups with Accenture’s Global 2000 client base in order to fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s domain expertise and enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.

About Accenture 
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 742,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.

About Sanctuary AI 
Founded in 2018, Sanctuary AI is a multi-award-winning company based in Vancouver, Canada. Sanctuary AI is on a mission to create the world's first human-like intelligence in general purpose robots that will help us work more safely, efficiently, and sustainably, helping to address the labor challenges facing many organizations today. Sanctuary AI's growing list of customers and investors represents a wide variety of industries across Canada, the US, and other countries around the world.

Members of the Sanctuary team founded D-Wave (a pioneer in the quantum computing industry), Kindred (first use of reinforcement learning in a production robot), and the Creative Destruction Lab (pioneered a revolutionary method for the commercialization of science for the betterment of humankind). With experience at startups and technology leaders such as Amazon, Microsoft, and Softbank Robotics, the team has experience launching market-defining innovations rooted in previously unsolved and deep scientific problems.

Copyright © 2024 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240327538360/en/

Julie Bennink

Accenture

+1 312 693 7301

julie.l.bennink@accenture.com

Jens Derksen

Accenture

+49 175 5761393

jens.derksen@accenture.com

Jenny Corlett

Sanctuary AI

+44 79 4495 1474

jenny.corlett@sanctuary.ai

Source: Accenture

FAQ

What is the recent strategic investment announced by Accenture (ACN)?

Accenture (ACN) has announced a strategic investment in Symend, a provider of customer engagement and debt recovery solutions.

What is the aim of Accenture's investment in Symend?

The aim of Accenture's investment in Symend is to enhance its capabilities in customer engagement and debt recovery services.

Why did Accenture choose to invest in Symend?

Accenture chose to invest in Symend due to Symend's innovative technology and data-driven approach.

How is the strategic investment expected to benefit both Accenture and Symend?

The strategic investment is expected to benefit both Accenture and Symend by leveraging their strengths in the market.