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Accenture, a global leader in professional services, has announced that it will acquire Udacity, a popular online education provider, to create a new AI learning platform called LearnVantage. The acquisition is part of Accenture’s $1 billion investment in developing a technology learning platform that will help enterprises and individuals master the skills of cloud, data, and AI.
Why AI learning platform is important
AI is transforming the way work gets done across industries and sectors. According to Kishore Durg, the global lead of Accenture LearnVantage, “The rise of generative AI represents one of the most transformative changes in how work gets done and is driving a growing need for enterprises to train and upskill people in cloud, data, and AI as they build their digital core and reinvent their enterprises.”
Generative AI is a field of AI that can produce fresh content or data, like pictures, text, music, or code, using existing data or inputs. Generative AI has various uses, including content creation, data enhancement, product design, and personalization.
However, generative AI also poses many challenges, such as ethical, legal, and social implications, as well as technical and operational complexities. Therefore, enterprises and individuals need to learn how to use generative AI effectively and responsibly.
How LearnVantage will help
LearnVantage is a new AI learning platform that will leverage the expertise and content of both Accenture and Udacity. LearnVantage will offer a variety of courses and programs, ranging from beginner to advanced levels, covering topics such as AI fundamentals, generative AI, computer vision, natural language processing, machine learning, deep learning, and more.
LearnVantage will also provide personalized and adaptive learning paths, mentorship and guidance, hands-on projects and assessments, and industry-recognized certifications. LearnVantage will aim to help learners achieve their learning goals, whether they are to advance their careers, start their businesses, or pursue their passions.
What Udacity brings to the table
Udacity is one of the pioneers and leaders in online education, especially in the fields of technology and innovation. Founded in 2011, Udacity has served over 14 million learners worldwide, offering more than 200 courses and programs, including the popular Nanodegree programs.
Udacity has also partnered with leading companies and organizations, such as Google, Amazon, IBM, Microsoft, and NASA, to create and deliver high-quality and industry-relevant content and credentials. Udacity has a strong reputation and community in the AI domain, having launched the first AI Nanodegree program in 2016.
Udacity’s CEO, Gabe Dalporto, expressed his excitement about joining forces with Accenture. He said, “We are thrilled to become part of Accenture’s vision to create a world-class AI learning platform that will empower millions of learners to acquire the skills they need to thrive in the digital economy.”
What the deal means for the market
The deal between Accenture and Udacity is expected to close in the second quarter of 2024, subject to customary closing conditions and regulatory approvals. The terms of the deal were not disclosed, but according to some sources, Accenture paid around $100 million for Udacity.
This is a significant deal for the online education market, as it signals the growing demand and competition for AI learning platforms. Accenture and Udacity will face other players in the market, such as Coursera, edX, Udemy, and Pluralsight, which also offer AI courses and programs.
However, Accenture and Udacity have a unique value proposition, as they combine the strengths of a global professional services firm and a leading online education provider, to create a comprehensive and customized AI learning platform that can cater to the needs of enterprises and individuals alike.
