KPMG invests in AI, expands Microsoft partnership
KPMG on Tuesday announced a significant expansion of its global relationship with Microsoft – impacting areas including internal workforce modernization, secure development, and artificial intelligence solutions for clients.
The expansion builds on a more than decade-long relationship between the Big Four accountancy and the technology giant. The new agreement includes a multibillion-dollar commitment in Microsoft cloud and AI services over the next five years.
Employees in select business groups across KPMG will pilot technologies from Azure OpenAI Service – which includes the popular ChatGPT generative AI tool. The tools will help the firm’s accountants, tax professionals, and consultants provide faster analysis and unlock more time to spend on strategic advice, KPMG said in a press release.
KPMG’s smart audit platform KPMG Clara, for example, will leverage Azure Cognitive services to help employees focus in on the higher-risk areas of the hundreds of thousands of audits they perform annually.
“We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services,” said Satya Nadella, chairman and CEO of Microsoft. “Our expanded partnership with KPMG will bring together AI innovation across the Microsoft Cloud with KPMG's tax, audit, and advisory expertise to empower its employees and unlock insights for its customers.”
Fellow Big Four firm PwC also recently announced significant AI investments centering on Microsoft’s OpenAI Service, with PwC US committing US$1 billion and PwC Canada committing $200 million.
Elio Luongo, CEO and senior partner of KPMG Canada, said, “Growing our alliance with Microsoft allows KPMG in Canada to help clients accelerate their digital transformation journeys. We’re thrilled to see the expansion of our Microsoft alliance at a time when it’s crucial that Canadian companies receive trusted and informed professional advice and support to responsibly implement cutting-edge cloud and AI technologies. It’s a win-win for both organizations and our clients.”
