KPMG Canada expanding use of AI to boost efficiency and productivity

17 June 2024 2 min. read

KPMG Canada says it has been investing in generative artificial intelligence (GenAI) proprietary tools, training, and solutions to enhance the work of its 10,000 professionals.

“At KPMG in Canada we've been experimenting, piloting, and implementing AI across the firm for some time,” Stephanie Terrill, AI executive leader and head of the management consulting practice, said in a press release on Wednesday. “And in some ways, we consider ourselves 'client zero,' which means we're testing and piloting new generative AI solutions and sharing that expertise with clients by helping them implement their own AI solutions to solve a variety of business problems. It's an exciting time to be innovating internally and with clients.”

KPMG and the other Big Four accountancies last year announced sizable investments into their AI capabilities, both to enhance their internal operations and bolster their provision of AI consulting services to clients. The investments allocated primary attention to the Microsoft Azure platform, which integrates OpenAI tools such as the popular GPT-4 model.

KPMG’s recent GenAI initiatives include upskilling its partners through an executive training program – which focuses on navigating the disruptive impact of GenAI on the firm and its clients.

KPMG Canada expanding use of AI to boost efficiency and productivity

KPMG is also training its entire workforce through avenues such as self-guided learning modules, mandatory AI risk management training, and immersive AI learning marathons.

The firm has also developed Kleo, its knowledge management platform and chatbot built on the GPT-4 model and housed in a private Azure cloud environment. Kleo includes function-specific bots for areas such as HR, IT, and marketing, and can support tasks in research, data analysis, and synthesizing answers to complex questions.

KPMG says that since Kleo’s launch in December, its has helped increase productivity and quality and is used by nearly 75% of its workers.

The firm also developed a proprietary AI-driven platform for managing complex document reviews. Piloted by KPMG Law, the tool expedites due diligence, contract management, risk assessments, compliance, and other tasks for legal and financial services sectors.

KPMG recently expanded its operational risk skills development centre, which offers training on GenAI and cybersecurity to CEOs, board directors, and owners of small- and medium-sized businesses.