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French advertising and public relations company Publicis Groupe S.A. (OTC:PUBGY) said it is infusing a layer of artificial intelligence across its platform organization to connect its enterprise knowledge under one entity – CoreAI.
The company plans to invest 300 million euros over the next three years as it becomes a true Intelligent System. For 2024 alone, the group anticipates an investment of 100 million euros, with 50% on people, focused on upskilling, training, and recruitment, and 50% on technology through licenses, IT software, and cloud infrastructure.
“Putting CoreAI at the heart of our organization and truly becoming an Intelligent System company will make our people more efficient and more productive,” said Arthur Sadoun, CEO & Chairman of Publicis.
The group began engineering CoreAI in the second half of 2023 and plans to roll out capabilities in the first half of 2024.
The company expects the investment in AI of 100 million euros in 2024, which will be fully funded by internal efficiencies, to have no dilutive impact on its operating margin in 2024 and be slightly accretive on operating margin in 2025.
Publicis Groupe also pre-released its net revenue, with full-year organic growth coming in at +6.3%, above the +5.5% to +6% guidance range last upgraded in October.
Price Action: PUBGY shares traded higher by 3.53% to $24.91 on Thursday.
Photo Via Wikimedia Commons
