Tech News: KPMG to invest $2B in AI

The offices of KPMG LLP in the Canary Wharf business and shopping district in London

Big Four firms KPMG will be investing $2 billion over five years in AI services and capacities in partnership with Microsoft. As an early access partner for Microsoft 365 Copilot and Azure OpenAI Service, KPMG professionals will pilot the technologies with select business groups across the global organization to enhance client engagements and accelerate digital solution development.

For example, with the integration of Microsoft Fabric, KPMG teams will have the ability to directly point to client data instead of having to ingest it, enabling KPMG professionals to perform audits on a more of a real-time basis.

On the tax side of things, KPMG will operate a generative AI-powered “virtual assistant” to create new client service models to help tax professionals become more efficient. It will also help with revenue-generating opportunities such as product experience enhancements and knowledge management for complex tax laws.

In terms of advisory, developing an AI-enabled application development and knowledge platform on Microsoft Azure will expedite the creation of specialized solutions for clients. The continued collaboration includes a joint engagement with Coca-Cola EuroPacific Partners on pioneering improvements to back-office efficiency using generative AI on the Azure platform.

Meanwhile, by building on the KPMG Circularity Tracker and an ESG and climate data management and analytics solution, both of which have Microsoft Cloud for Sustainability and Microsoft Azure at their core, KPMG professionals will work together with Microsoft to help support businesses with their ESG agendas by helping clients unify their data sources, leverage the required inputs to help make real-time value-added decisions, and deliver on their sustainability commitments.

Further, KPMG and Microsoft will continue to explore and participate in joint opportunities, such as enhancing the reliability of carbon accounting through the Carbon Call to which both KPMG and Microsoft were found signatures.

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