Accenture Ventures has made a strategic investment in Profitmind, a retail technology company, and established a partnership to integrate its agentic artificial intelligence platform into Accenture’s retail data and AI offerings.
This collaboration aims to enhance Accenture’s existing data and AI capabilities within the retail sector, enabling clients to more effectively transition from market insights to actionable strategies. Agentic AI, a key component of Profitmind’s platform, interprets extensive datasets, coordinates actions across various workflows, and adapts dynamically to real-time market shifts, fostering operational responsiveness and personalized customer experiences crucial in today’s complex retail landscape. A recent Accenture survey indicated that consumers are 1.5 times more engaged and 1.7 times more likely to accept a higher price from brands offering emotionally engaging experiences.
Profitmind’s platform leverages a network of intelligent AI agents to connect data across pricing, inventory, promotions, and assortment. It generates relevant and timely recommendations, integrating machine learning, generative AI, and agentic AI. The system is designed to facilitate faster, more informed decisions while maintaining visibility into the reasoning and anticipated outcomes of AI-generated actions.
Jill Standish, Accenture’s global retail lead, commented on the development, stating, “In retail, AI is reinventing how people shop, how businesses operate and how employees work. Retailers are navigating relentless disruption—and nowhere is the impact more acute than in merchandising. Frequently considered the heart and soul of retail, executives are often overwhelmed by massive amounts of data, reports and spreadsheets, leaving little time for effective decision-making. Profitmind bridges the gap between insight and action through agentic AI. It mirrors how retailers run their businesses, linking data from multiple sources for clear, prioritized recommendations that can be trusted and executed quickly in response to an increasingly competitive industry.”
Dr. Mark Chrystal, co-founder and CEO of Profitmind, added, “Profitmind launched the first agentic platform for retail at NRF 2024. Now, by teaming with Accenture, we are directly addressing the operational complexities retailers face across markets, channels and data systems. This partnership allows us to bring that innovation to more global clients, delivering consistent solutions that increase agility and turn critical insights into tangible business outcomes.” Profitmind’s platform currently supports merchandising decisions for retailers with revenues ranging from $20 million to $100 billion across three continents, having reportedly driven a 250+ basis point profit improvement for one client and saved hundreds of hours monthly in manual data work.
Accenture and Profitmind will present a demo together at the National Retail Federation (NRF) on January 11-13, located at Microsoft booth 4053. The specific terms of the investment have not been disclosed.
