PwC Canada invests $200 million into AI capabilities

05 June 2023 2 min. read

PwC Canada has announced plans to invest $200 million over the next three years to improve its artificial intelligence capabilities.

The news follows PwC US’ announcement that it would invest $1 billion into generative AI programs.

Similar to its US counterpart, PwC Canada’s initiative will center on the OpenAI suite of tools within the Microsoft Azure OpenAI service. OpenAI’s tools include the popular ChatGPT generative AI solution – and Microsoft has invested heavily in the startup to anchor it to its ecosystem.

PwC will use the technology to improve its internal operations and help its clients harness the power of generative AI – including generating stronger insights, driving productivity, and creating innovative new products and services.

“Through this new collaboration, PwC will utilize Microsoft Azure OpenAI Service to enhance their capabilities and offer cutting-edge customer solutions, backed by Azure’s trusted enterprise-grade features and AI-optimized infrastructure,” Chris Barry, president, Microsoft Canada, said. “Together, we share a common vision of enabling digital transformation with generative AI to unleash the potential of businesses across Canada.”

PwC Canada invests $200 million into AI capabilities

PwC will utilize its responsible AI framework when deploying OpenAI’s tools – focusing on governance, fairness, transparency and explainability, confidentiality, and data security.

The $200-million investment will also be used to upskill the firm’s 9,000 employees on AI tools and capabilities, as well as to accelerate STEM hiring. Employees will learn how to work with AI and how to advise clients on AI topics.

PwC will also embed generative AI in its internal platforms.

“We are at a point of inflection–in business and society. Generative AI has the potential to transform the way we live and work, and will reshape our clients’ business models for products and services,” said Chris Dulny, chief digital, data and innovation officer, PwC Canada. “Our investment builds on PwC’s ability to bring ‘human-led and tech-powered’ solutions to our clients and our people, and underscores our core purpose and strategy: to build trust and solve important problems.”

PwC’s Big Four counterparts have likewise been boosting their AI capabilities. KPMG Canada recently announced it was embedding AI into its digital audit platforms through a partnership with MindBridge. Deloitte, meanwhile, launched an AI institute and bought AI and data consultancies Dataperformers and Groundswell Group.