Accenture (i) – the Supposedly Doomed Consulting Giant That is Likely to Benefit From the AI Boom Instead of Disappearing!

The market has written off Accenture (i) – in my view, a classic case of excessive fear. With a decline of about 30% since the beginning of the year, the stock price incorporates concerns that AI tools from Anthropic and OpenAI will make traditional consulting and IT services obsolete. This fear was recently fueled by OpenAI's Tomoro acquisition and an announced push into consulting worth $4 billion. But this is precisely where the fallacy lies. While AI does change certain workflows, it cannot replace everything – similar to how it has...