Throughout her career, Accenture CEO Julie Sweet has consistently challenged the status quo. Currently, in the era of artificial intelligence (AI), she and her Fortune 500 clientele are in the midst of another business transformation.

Julie Sweet’s Journey to the Top

Entering Claremont McKenna College as a freshman, Sweet decided to study international relations and learn Chinese. Following a 17-year law career, which included becoming the first female partner at her firm, she transitioned to Accenture and tech consulting. Despite initially having limited knowledge of technology, she worked her way up to the CEO position.

The Need for Business Reinvention in the AI Era

With the rapid expansion of AI impacting all aspects of business, Sweet, Accenture’s first woman CEO and chair of the board, stresses the necessity for companies to undergo top-to-bottom transformations.

“To truly harness the potential of AI, businesses must be willing to fundamentally change their operations,” Sweet shared with Fortune‘s Editor-in-Chief Alyson Shontell during the inaugural episode of the Fortune 500 Titans and Disruptors of Industry podcast. “Often, companies who feel they’re not gaining sufficient benefits from AI are those who try to fit it into their existing operational model.”

The Meaning of “Rewiring” in Business

According to Sweet, “rewiring” implies a departure from traditional business mindsets.

Potential Pitfalls in AI Adoption

• Sticking to legacy processes: Sweet identifies a red flag when companies attempt to approach AI with conventional methodologies. “Cross-functional steering committees, for example, signify resistance to change,” she explained.
• Overemphasis on collaboration: While teamwork is crucial, over-reliance on collaboration without a solid business strategy is another potential pitfall in AI transformation, according to Sweet.
• Embarking on unrealistic AI projects: While Sweet personally uses AI for tasks like data summarization and creating presentations, she acknowledges that these applications won’t significantly impact the bottom line. “Financial considerations and a clear strategy are paramount. This isn’t about layering AI on top of existing operations,” Sweet said.

Accenture’s Commitment to AI

Accenture has committed $3 billion to expanding its data and AI practice, planning to add 80,000 AI-focused employees to its existing workforce of over 770,000. The company has completed more than 2,000 generative AI projects in the past fiscal year alone. Sweet highlighted that Accenture’s clients value their industry and technical knowledge, as well as their data and technology expertise.

Leading the AI Revolution

Sweet believes that the AI revolution needs leadership from executives who understand AI’s potential and aren’t afraid to alter their strategies, as she herself has done at Accenture.

“The real promise of AI lies in integrating it at the core of your business and leveraging it to alter your trajectory.”