Why I believe the real prize for Accenture is not selling companies another clever interface, but helping them reconstruct the machinery beneath the modern enterprise. When most people hear “artificial intelligence,” they still picture a chatbot. They imagine an employee typing a question into a box, getting a polished answer in seconds, and saving a little time on an email or presentation. That is the most visible expression of AI, so naturally it receives most of the attention. It is also, in my view, the least interesting part of the opportunity now sitting in front of Accenture. The chatbot is the showroom. The real business is behind the walls. Corporate America is full of old software, fragmented databases, manual approvals, conflicting policies, duplicated work, and systems that were never designed to communicate with one another. Many large companies have spent decades adding technology without removing much of what came before it. They operate with modern websites sitting on t...
When I first look at ACADIA Pharmaceuticals, I see a company that has already accomplished something many biotechnology businesses never manage to do: It has moved beyond the PowerPoint stage. ACADIA has actual products, actual revenue, and actual patients using its medicines. That may sound like a low bar until I remember how many biotechnology companies spend years discussing enormous addressable markets while producing little besides clinical-trial expenses and increasingly imaginative investor presentations. ACADIA is different. NUPLAZID has established the company in Parkinson’s disease psychosis, while DAYBUE has given it a commercial position in Rett syndrome. Those two products generated combined second-quarter 2026 revenue of approximately $308 million. Management raised its full-year revenue guidance to between $1.24 billion and $1.30 billion, including projected DAYBUE sales of $480 million to $510 million and NUPLAZID sales of $760 million to $790 million. ACADIA’s second-q...