The collaboration between Microsoft and KPMG seeks to bring transformative generative AI solutions to the realm of professional services.
In Brief
KPMG is working alongside Microsoft to roll out generative AI technologies designed specifically for clients in Audit, Tax, and Advisory sectors across the U.S.
KPMG will harness Microsoft's OpenAI features throughout its various internal systems.
Cherie Gartner, who is KPMG's Global Lead Partner for Microsoft, will spearhead this initiative.
As one of the leading accounting firms, KPMG is partnering with Microsoft to launch an AI Innovation Initiative that focuses on providing AI-driven solutions for various industries throughout the United States.
Under the leadership of Cherie Gartner, the initiative will also see extensive use of Azure OpenAI Services across KPMG’s internal infrastructure.
A press statement indicated that certain KPMG affiliates and team members can now utilize Microsoft’s generative AI tools with KPMG’s confidential data through a secure cloud framework built on Microsoft Azure, enhancing their client-facing processes as well.
This partnership will enable KPMG to incorporate Microsoft’s advanced machine learning algorithms, sophisticated natural language processing, and improved analytics into their data frameworks, all while ensuring the utmost security for client information.
Carl Carande, Vice Chair of Advisory for KPMG U.S. and Global Head of Advisory, shared in a statement that leveraging generative AI will redefine the solutions they offer, unlocking new avenues for growth and success within their firm and for their clientele.
The collaboration is centered around three primary objectives:
- Initiating the AI Innovation Initiative and crafting solutions aimed at addressing critical market challenges. For example, KPMG Tax has developed a unique AI tool utilizing Azure OpenAI Service that efficiently scans clients’ ESG data, identifies patterns, and assists them in formulating their ESG data reports and narratives.
- Improving client relations: By integrating Azure OpenAI Service and machine learning processes, KPMG Tax plans to implement a generative AI-driven 'virtual assistant' to create innovative service models and revenue opportunities.
- Revolutionizing internal processes: This summer, KPMG intends to be among the first to adopt Microsoft 365 Copilot, enhancing employee productivity through generative AI tools.
This isn't KPMG's first venture with Microsoft; earlier in March, their Australian branch released a customized version of ChatGPT, called. KymChat This latest initiative comes hot on the heels of another Big Four firm, PwC, announcing their intention to invest a whopping $1 billion in generative AI over the next three years. PwC has already begun integrating Azure OpenAI Service across various industries including insurance, aviation, and healthcare. announced in April Other prominent accounting firms like EY and Deloitte are also embracing generative AI technologies. EY is leveraging Azure OpenAI to create a specialized practice that will guide clients through the impacts of this disruptive technology and facilitate the implementation of AI solutions based on foundational models.
In partnership, NVIDIA and Microsoft are collaborating to develop a powerful AI supercomputer. payroll chatbot while Deloitte MUFG has plans to offer financial services within the metaverse. The collaboration between Microsoft and Meta has officially brought Office 365 applications into the metaverse.
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