Lenovo will invest $1 billion in its AI business over next three years

Lenovo on Wednesday said it will invest $1 billion over the next three years for the expansion of infrastructure solutions to accelerate artificial intelligence (AI) deployment for businesses globally.

The company's investment strategy includes an additional $100 million commitment to the expansion of the Lenovo AI Innovators programme which includes an ecosystem of software partners collaborating with the company to offer ready-to-deploy AI solutions.

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The company said the programme has already delivered more than 150 AI-ready solutions created with 45 ISV (independent software vendor) partners.

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The solutions bring AI from the lab to scale and enable dramatic technology shifts within high-growth sectors, it said.

“This announcement marks Lenovo’s largest AI infrastructure investment in history and will expand the company’s AI-ready portfolio of smart devices, infrastructure solutions and services to help accelerate innovation, enabling the use of generative AI and delivering cognitive decisions at scale throughout remote locations across financial, manufacturing, healthcare, retail and smart city applications,” the company said.


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Accenture's $3 billion AI bet

The announcement from Lenovo comes a day after IT services major Accenture said it will invest $3 billion in its data and artificial intelligence practice over the next three years, and double its AI headcount to 80,000 through hiring, acquisitions, and training.

Accenture said it is currently working on generative AI projects and launched its AI Navigator for Enterprise platform. It also announced the Center for Advanced AI “to help maximise the value of generative and other AI’’. The company said it will invest in assets, industry solutions, ventures, acquisitions, talent, and partnerships, “which will deepen and develop new skills and capabilities across diagnostic, predictive, and generative AI’’.

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$2 billion AI infrastructure revenue

Meanwhile, Lenovo said it has reached “a record annual AI infrastructure revenue of over $2 billion”. Further, the company said it extended its portfolio of AI-ready infrastructure to more than 70 products, with new AI-optimised edge-to-cloud server platforms that help address any AI workload.

The company said it is focused on simplifying the implementation of new AI capabilities.