KPMG will work more closely with Microsoft around AI solutions. To put the money where its mouth is, it will also invest 1.8 billion euros ($2 billion) in AI over the next five years.
The 1.8 billion euros will go toward AI and cloud projects to help automate KPMG’s services. In addition to consulting services, this includes the accounting and tax services KPMG provides.
The use of AI and automation should enable employees to deliver faster analyses, giving more time to provide strategic advice to their clients.
In addition, the AI solutions to be developed with Microsoft should enable KPMG employees to help clients integrate AI into their own business journeys. In addition, generative AI will be used to improve work on sustainability and social and governance topics.
No job losses
KPMG emphasizes that the AI collaboration with Microsoft will not lead to job cuts. Instead, the technology in question will be developed to assist its own employees in their work in a better way.
AI should also bring KPMG about 11 billion euros ($12 billion) in additional revenue over the next five years.
Within the partnership, Microsoft will ensure that KPMG becomes one of the first companies where employees can access the new AI assistant for Microsoft 365, Microsoft 365 Copilot. This before the tool becomes publicly available.
In addition, KPMG plans to bring more workloads to the Azure public cloud environment. KPMG already uses Azure to access OpenAI’s LLM models to develop run its own AI applications.