Ms Hilary O'Meara:

I thank the committee for inviting me to be here today. I am the country managing director of Accenture in Ireland, and with me is Denis Hannigan, our data and AI lead.

For those who do not know Accenture well, it is a global technology organisation employing 742,000 people and more than 6,000 people in Ireland. We have been in Ireland for more than 54 years. Our global research and development centre, namely, The Dock, is home to one of Accenture's 24 GenAI studios globally and is also based in Ireland.

We work with clients in almost every industry. Most of our clients need to transform and continually adapt their businesses to stay ahead, and we support them to do that. In essence, we help our clients navigate and implement complex change.

Today, we will focus on generative AI, GenAI, the latest form of artificial intelligence. GenAI is a groundbreaking technology, surpassing all previous digital technologies. Our research shows that adopting responsible, people-centric GenAI approaches could unlock $10.3 trillion in global economic value when combined with classical AI forms, such as predictive AI. Despite the hype, GenAI is a game-changer that will revolutionise work and life. It is advancing rapidly. Its potential impact spans all processes and roles, from CEO to front-line workers. Business leaders must understand this new technology and the impact it will have across their industry, and we recommend they position GenAI in their top three strategic priorities. GenAI will transform and disrupt every industry, offering both opportunity and risk. It is important therefore that business leaders navigate decisions with an inclusive, ambitious and responsible strategy.

We have distilled these considerations into three imperatives. First, we must lead with value. Leaders must think holistically, considering how AI impacts end-to-end processes to drive growth, optimise costs and enhance customer engagement. Our advice is to be value led. One should not embrace GenAI for the sake of it, but should be laser-focused on the return on investment for their business and have a clear strategy for how they will harness its power to drive tangible business outcomes.

The second imperative is having the right technical foundations for GenAI, something we in Accenture call the "digital core". Quality data and cloud access are essential. Irish organisations have been slower to adopt cloud compared with peers in other countries. Accenture published research in 2022 which outlined that just 16% of Irish companies believed they had the systems, architectures and structures in place to enable and support innovation end to end, which is relative to the global average of 25%. We advise clients to define their north star and start their journey at a pace aligned with their investment ability and risk appetite. There is no one-size-fits-all approach.

The third imperative is to bring the workforce on the journey. Leaders must focus not only on technology but also on preparing the workforce for GenAI. Getting the workforce ready is of utmost importance and CEOs to whom we speak are particularly interested in this area. AI will have a significant impact on the workplace and employees are concerned about its implications. They worry about job disruption, stress, potential burnout and the quality of technology.

Leaders must focus on two key areas concerning employees. First, it must build trust through regular and transparent communication about the company's plans for GenAI and its impact on employees. Trust in both the tools and the organisation's intentions is crucial. Second, leaders need to prioritise reskilling, starting with themselves. Only one in three leaders feel they have the necessary technology expertise for GenAI, and only 5% of organisations invest in reskilling. All leaders, not just technology and data practitioners, must understand how GenAI will transform their business and then quickly implement learning and development programmes for employees.

We are optimistic about the impact of GenAI on the workforce for several reasons. We believe this technology will drive productivity and make work more enjoyable, leading to greater job satisfaction. Our research shows that GenAI positively affects entry level and lower-skilled workers, boosting their contribution early in their careers. Additionally, the value of GenAI relies on the application of new skills and capabilities, creating new jobs and professions and opening up new opportunities.

While leaders need to work on delivering value, getting their digital core in place and preparing their workforce, all of this needs to be underscored by responsible AI to ensure important considerations such as data privacy, transparency and principles of fairness remain front and central. It is important to be cautious about the widespread use of these technologies without proper oversight. Responsible AI practices are necessary due to the unique considerations of GenAI. While 90% of organisations have AI principles, only 2% have fully operationalised responsible AI. Closing this gap is crucial. Establishing governance frameworks, testing processes and monitoring tools are essential to harness AI benefits while mitigating potential harms. The EU is at the forefront of pioneering efforts with initiatives such as the EU AI Act and the European AI strategy. These frameworks set global examples. Indeed, Accenture references the Act to shape our internal AI compliance programme. Prioritising safe and responsible AI development and deployment is critical.

At a national level, we face a choice between seizing unprecedented opportunities and addressing the risks of these technologies. We have the potential to leverage our national convening power, including policymakers, academia and the business and technology ecosystem, to position Ireland as a leader in the AI era for a successful and prosperous future. Actions that can help amplify this positioning include promoting responsible AI innovation that would position Ireland as a leader in innovating with AI in an ethical manner by ensuring effective implementation of all regulations and broadening our research and innovation capabilities. Developing an AI-skilled workforce would start with aligning our education programmes to prepare our emerging workforce for AI-driven industries and could include incentives or funding for organisations to support continuous learning and reskilling for current professionals, with a focus on the SME sector in particular. Strengthening AI research and industry partnerships would involve boosting collaboration between universities, technology companies and public institutions to drive AI innovation. This could be through funding joint research projects or mentorship programmes to further drive innovation. Co-creating the future would involve establishing a think tank to look at all the ways that Ireland can maximise GenAI. Ireland should lead from the front, encouraging and driving momentum in AI adoption across all parts of society. A failure or reluctance to engage could pose risks to our future economic sustainability.

We believe this is a pivotal moment in which AI is poised to transform and reshape many aspects of how businesses operate. Ultimately, we are embarking on a period of ongoing change and transformation that requires a mindset of continuous improvement and reinvention and which presents Ireland with a new range of opportunities to position for future growth and economic prosperity. We know this is not straightforward, but given the pace of change and the opportunity it represents, we need to act and act now.