Capgemini on Thursday told investors that artificial intelligence is reshaping how clients allocate technology spend, moving it outside the remit of traditional IT budgets and into wider operating programs. Company executives presented the view that this change increases opportunities across business functions and strengthens client ties, positioning Capgemini to capture a broader array of work.
At the firm’s recent Capital Markets Day, Chief Executive Aiman Ezzat said the shift in client thinking reflects a move to treat AI as an organisational change rather than a routine IT refresh. "Now the net result is a more resilient, more diversified Capgemini, one with stronger client intimacy," Ezzat said at the event.
Those comments were aimed at a key investor worry - that advances in AI could supplant outside technology contractors by automating tasks such as coding. Capgemini argued the opposite: rather than reducing demand for external partners, AI is broadening the scope of projects it can win from clients and creating new openings across business functions.
Evidence of that widening opportunity set was highlighted by the company’s technology chief. "We’ve seen an explosion of our business opportunities over the last few months. And our pipeline of business opportunities already exceeds $12 billion," Chief Technology Officer Franck Greverie said at the event.
The company also pointed to its collaborative role with OpenAI-related initiatives and noted its status as a founding member of OpenAI’s Frontier Alliance. At the event, Nate Harbacek, vice president of global business at OpenAI, described an enterprise transition from early, individual experimentation with AI to large-scale deployments. He said companies were moving from "individual use and amazement to real enterprise deployment and scale," where "entire workflows" would be "re-architected".
Capgemini further said it is targeting demand for so-called "sovereign" AI systems - deployments designed to meet local data, regulatory and hosting constraints. Ezzat said the company is working with Amazon Web Services, Google Cloud and Microsoft on region-specific cloud and AI offerings as firms and governments seek greater control over where critical systems operate.
The presentation sought to reassure investors by framing AI as an enabler of new, diversified revenue streams rather than a threat to the company’s business model. Executives emphasised client intimacy and the expansion of use cases as the main drivers behind the rise in opportunities highlighted in the firm’s pipeline.
ProPicks AI, mentioned during the event materials, posed a hypothetical investor question: "Should you invest $2,000 in CAPP right now?" The promotional note described ProPicks AI as evaluating CAPP alongside thousands of other companies using more than 100 financial metrics, and said the system identifies stocks that offer attractive risk-reward. The material cited past winners as examples, and invited readers to explore whether CAPP appears in current AI-driven strategies or whether alternative opportunities exist in the same space.