Former Accenture and EY executive Frank O\u2019Dea has established a specialist consultancy aimed at helping companies implement artificial intelligence correctly, with plans to expand the business to Ireland and further afield. <\/p>\n
London-based Klarus, which currently employs 25 people directly and has access to a further 30 in a wider network of experts, is aiming to address the growing market frustration of deploying AI at speed without meaningful financial returns. Research quoted by the company, carried out by Massachusetts Institute of Technology (MIT), found up to 95 per cent of enterprise generative AI initiatives are failing to deliver. <\/p>\n
Klarus combines an expert network and curated AI solutions to help companies implement solutions that can drive return on investment for businesses. <\/p>\n
O\u2019Dea, who led Accenture UK\u2019s communications technology and media division and was previously chief innovation officer of EY Ireland, said AI had the potential to disrupt every sector, but it was still in its early days. <\/p>\n
\u201cThere\u2019s an awful lot of confusion, a lot of technology push and a lot of hype over AI. People think they need to be doing something, but they don\u2019t know what it is. So people are experimenting a lot and they\u2019re not really experimenting on necessarily the right things,\u201d he said. <\/p>\n
\u201cI think that there\u2019s a real gap there in terms of being able to help people to identify what are the things they should be using right now, or that they might use in the future – be a fast follower rather than a pioneer. I think a lot of the failures are at experiments that are set up in the wrong areas.\u201d<\/p>\n
O\u2019Dea noted that many organisations lack in-house expertise or the resources to employ consultants to implement various projects. <\/p>\n
Klarus is aiming to fill a gap in the market that will offer expertise in various industries and combine it with knowledge of the solutions that are available in the various industries, what stage they\u2019re at, how they\u2019re evolving, and which ones will deliver real benefits.<\/p>\n
\u201cWe don\u2019t push technology, and we don\u2019t we pull technology into a business outcome,\u201d he said. \u201cWe use AI in our business, and in every industry that we\u2019re in, we have an expert network of skills that we can access from people who would have been in the industry, or might have been consultants to the industry.\u201d<\/p>\n
The company operates on an outcome-based fee structure. It has already worked with a number of enterprise and mid-market organisations, from family-owned to private equity-backed and listed companies across various industries. <\/p>\n
Initially focused on the UK, Klarus is planning further expansion. It already supports a number of clients here, with plans to open an Irish office to support its growing client base. <\/p>\n
\u201cWe\u2019ve got great international ambitions, and Ireland is, first on the list,\u201d O\u2019Dea said. \u201cWe do serve clients here in Ireland from the UK, it\u2019s relatively easy to do that. Our plan is to set up in Ireland properly with our team. There\u2019s other markets that we\u2019re also very interested in moving into.\u201d<\/p>\n
The company has been backed by a small number of investors, with initial funding coming through a round led by Crownway Investments to help it grow its expert network and proprietary consulting platform. <\/p>\n","protected":false},"excerpt":{"rendered":"Former Accenture and EY executive Frank O\u2019Dea has established a specialist consultancy aimed at helping companies implement artificial…\n","protected":false},"author":2,"featured_media":409868,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[22534,220,218,219,40229,61,60,80],"class_list":{"0":"post-409867","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-accenture","9":"tag-ai","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-ey","13":"tag-ie","14":"tag-ireland","15":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/409867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=409867"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/409867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/409868"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=409867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=409867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=409867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}