KPMG Canada partners with Faethm to predict AI impacts on workforce
KPMG Canada has entered a strategic alliance with Faethm, a Sydney, Australia–based artificial intelligence (AI) analytics SaaS platform company. Together, the partners will help clients predict the impact of emerging technologies such as AI on Canadian jobs.
Founded in Sydney in 2017, Faethm's software-as-a-service (SaaS) platform combines machine learning and proprietary analytics with client data in a secure environment to predict the impact of emerging technology on any job, workforce, company, industry, location, or economy. This helps companies and governments better plan their digital transformation agendas, re-skill employees, develop smarter strategies, and make stronger investment decisions.
By using Faethm’s platform, clients can find out which emerging technology will have the largest impact on their organization, when it will happen, and how much it will be worth. Clients can then better understand the supply and demand of skills in the future, and how to structure, size, and equip their workforce.
The SaaS platform draws data from 200 countries, spanning industries, employment, GDP, and other areas. The platform’s analytics are also constantly updated as technologies evolve and emerge.
Faethm has served clients such as the Australian and Luxemburg governments, as well as BlueScope Steel and Westpac. The company partners with numerous consulting firms, including BCG, Capgemini, Aon, Mercer, and Willis Towers Watson, to deliver stronger insights for advisory clientele.
The company has now partnered with KPMG Canada to help the consultancy better predict technology impacts so it can support clients with more accurate and effective digital transformation strategy.
"This alliance enables us to help the private and public sector prepare for the future of work," said Michael Mitchell, management consulting partner, IT Advisory, KPMG Canada. "A growing number of companies and governments are realizing new, powerful technologies like robotics, autonomous vehicles, AI, and machine learning will have socio-economic ramifications, but they're not sure how to deal with it. We feel strongly that it's important to help them get ahead of the curve."
Greg Miller, Faethm's executive director, added, "The team is very excited to be working with a leader like KPMG, especially in one of the leading countries taking action to prepare its workforce for the future. The first step in this evolution of work is to start with data-driven decision making; Faethm enables this step and supports use cases from technology investments to people strategy, in enterprise and government."
