Microsoft and KPMG Join Forces to Bring Generative AI Solutions to Professional Services
In Brief
KPMG and Microsoft are collaborating to deliver generative AI solutions for Audit, Tax and Advisory clients in the U.S.
KPMG will deploy Microsoft’s OpenAI capabilities across its internal platforms.
The initiative will be led by Cherie Gartner, KPMG’s Global Lead Partner for Microsoft.
KPMG, one of the Big Four accounting firms and professional services networks, is collaborating with Microsoft to establish an AI Innovation Initiative focused on delivering AI-powered solutions to clients across industries in the U.S.
Led by Cherie Gartner, KPMG’s Global Lead Partner for Microsoft, the initiative will also see both companies deploy Azure OpenAI Service across KPMG’s internal platforms.
According to the press release, some KPMG U.S. partners and employees now have the ability to apply Microsoft’s generative AI capabilities to KPMG’s proprietary data through the firm’s secure cloud platform, which is developed on Microsoft Azure. The firm will also embed generative AI capabilities across its client delivery models.
Through this partnership with Microsoft, KPMG will be able to layer Microsoft’s machine learning models, natural language processing capabilities, and enhanced analytics onto firm data sets and solutions within its secure cloud environment to protect client and company data.
“Embracing the capabilities of generative AI will shape business solutions and create new opportunities for growth and success at our firm, in our industry and for our clients,” Carl Carande, Vice Chair, Advisory for KPMG U.S. and Global Head of Advisory, said in a statement.
The collaboration focuses on three areas:
- Establishing the AI Innovation Initiative and developing solutions to some of the market’s most pressing needs. For instance, KPMG Tax developed an AI solution using Azure OpenAI Service that rapidly analyzes clients’ ESG data, establishes fact patterns, and ultimately helps clients to develop their ESG data reporting and narrative.
- Enhancing client engagement: Integrating Azure OpenAI Service and machine learning models, KPMG Tax will operate a generative-AI powered “virtual assistant” to create new client service models and revenue-generating opportunities.
- Transforming internal operations: KPMG will be an early adopter of Microsoft 365 Copilot this summer to help employees work more efficiently using generative AI.
This is not KPMG’s first collaboration with Microsoft. In March, KPMG Australia launched a proprietary version of ChatGPT, dubbed KymChat. The latest initiative comes after another Big Four accounting and professional services network, PwC, announced in April that it will invest $1 billion in generative AI over the next three years. PwC has already integrated Azure OpenAI Service capabilities for clients across diverse industries such as insurance, aviation, healthcare, and more.
Other Big Four accounting firms and professional services networks, including EY and Deloitte, have also been integrating generative AI capabilities in their businesses. EY is using Azure OpenAI to develop a payroll chatbot while Deloitte announced a new Generative AI practice to help clients navigate the impacts of the disruptive technology and implement AI solutions built on foundational models.
Read more:
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
More articles
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.
