KPMG to Invest $2 Billion in AI Solutions with Microsoft

KPMG has announced that it will be working more closely with Microsoft to develop AI solutions. The company has also committed to investing 1.8 billion euros ($2 billion) in AI over the next five years.
The 1.8 billion euros will be used to fund AI and cloud projects that will help automate KPMG’s services. This includes the consultancy services, as well as the accountancy and tax services provided by KPMG.
The use of AI and automation should help KPMG employees to deliver faster analysis and provide more time to give strategic advice to their clients.

KPMG Emphasizes No Job Losses

KPMG has emphasized that the AI collaboration with Microsoft will not lead to a job reduction. The technology being developed is intended to help KPMG employees in their work.
AI is also expected to provide KPMG with an additional 11 billion euros (12 billion dollars) in revenue over the next five years.

Microsoft’s Plan

Microsoft will be providing KPMG with access to its new AI assistant for Microsoft 365, Microsoft 365 Copilot, before it is made available to the public.
KPMG also plans to move more workloads to the Azure public cloud environment. KPMG is already using Azure to access OpenAI’s LLM models for developing and running proprietary AI applications.