Accenture invests in retail technology firm Profitmind as AI reinvents how people shop

Accenture is investing an undisclosed amount in Profitmind, which has developed an agentic AI platform designed to help retailers automate decisions across pricing, inventory, and planning.

The pair are also entering into a strategic partnership to expand Accenture’s data and AI capabilities in retail.

“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,” says Jill Standish, Accenture’s global retail lead.

“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, prioritised recommendations that can be trusted and executed quickly in response to an increasingly competitive industry.”

“We 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,” says Dr. Mark Chrystal, Co-founder and CEO at Profitmind.

RTIH AI in Retail Awards

RTIH proudly presents the first edition of its AI in Retail Awards, sponsored by VenHub Global, 3D Cloud and EdTech Innovation Hub.

This is now open for entries. Deadline for submissions is Friday, 5th December. It’s free to enter and you can do so across multiple categories.

Check out categories and entry forms here.

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Thursday, 29th January. This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.