Accenture (NYSE:ACN) has invested in Ryght AI, a platform provider that modernizes clinical research design and execution for the life sciences industry, according to a press release statement issued Thursday. The IT services giant, currently trading at $272.22 with a market capitalization of $168.81 billion, continues its strategic investment approach despite experiencing a 21% year-to-date price decline. According to InvestingPro data, Accenture is considered undervalued based on its Fair Value assessment.
The investment, made through Accenture Ventures, aims to help life sciences companies and clinical research organizations bring new treatments to patients faster by combining artificial intelligence with enterprise technology solutions.
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Ryght AI’s platform creates digital replicas of clinical research sites, capturing historical performance, patient demographics and operational data in real-time. These “AI Site Twins” are designed to help sponsors and contract research organizations identify appropriate sites for clinical trials, forecast enrollment and streamline site activation workflows.
The collaboration will focus on accelerating three key steps in drug development: trial feasibility, site selection and patient recruitment, areas that often create bottlenecks in the clinical trial process.
“With our investment in Ryght AI, we’re giving our life sciences clients the ability to fully leverage operational and scientific data and bring life-changing therapies to market faster,” said Petra Jantzer, global lead of Life Sciences at Accenture.
Simon Arkell, CEO of Ryght AI, stated that the partnership would help extend the impact and adoption of the company’s technology globally.
The financial terms of the investment were not disclosed. This marks Accenture’s latest investment in biotechnology startups that use technology to accelerate clinical trials and drug discovery, following previous investments in companies including 1910 Genetics, Turbine and Earli.
In other recent news, Accenture announced an expanded partnership with AI company Anthropic, forming the Accenture Anthropic Business Group to assist enterprises in scaling their AI deployments. This collaboration aims to train approximately 30,000 Accenture professionals on Anthropic’s Claude AI models, establishing a significant ecosystem of Claude practitioners. In another development, Accenture has made a strategic investment in WEVO, an AI-powered customer research platform, to enhance its GrowthOS platform. This integration will allow companies to simulate and validate customer behaviors rapidly, offering insights that combine AI simulation with human validation.
Furthermore, Accenture and Snowflake have launched the Accenture Snowflake Business Group to accelerate AI adoption and data transformation initiatives. This initiative is backed by over 5,000 Accenture SnowPro-certified professionals, creating a robust talent pool for the ecosystem. Additionally, Jefferies has raised its price target for Accenture to $270, maintaining a Hold rating on the stock, influenced by potential positive shifts in industry sentiment. These recent developments underscore Accenture’s strategic focus on AI and data transformation to drive growth and innovation.
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