The Partnership Between KPMG and Microsoft to Transform Professional Services with AI
In a groundbreaking agreement, KPMG and Microsoft have announced their commitment to revolutionize the professional services industry by harnessing the power of Artificial Intelligence (AI). Here are the key points of this landmark collaboration:
- KPMG will invest billions in Microsoft cloud and AI services over the next five years, projecting a significant growth opportunity of over $12 billion.
- Microsoft’s cloud and Azure OpenAI Service capabilities will empower KPMG’s global workforce, enhancing analysis speed and enabling more strategic advice for their 2,500 joint clients.
- KPMG professionals will pilot Microsoft 365 Copilot and Azure OpenAI Service technologies, accelerating digital solution development and improving client engagements.
- Data analytics, AI, and Azure Cognitive Services will be integrated into KPMG’s audit process, allowing audit professionals to focus on higher-risk areas and sector-specific risks.
- The integration of Azure OpenAI Service and Microsoft Fabric into KPMG Digital Gateway will provide clients with transparent access to their data in the tax sector.
Microsoft’s AI Strategy and Investments
Microsoft has been at the forefront of AI innovation and investment. Here are the key highlights:
- Since 2017, Microsoft has accelerated the integration of AI into its products and made significant investments in AI companies.
- The global AI market is projected to grow by an average of 37% annually, reaching $1.8 trillion by 2030.
- Milestones include multi-billion dollar investments in ChatGPT owner OpenAI and strategic investments in Builder.ai and AI startup Inflection.
Hot Take
The partnership between KPMG and Microsoft marks a pivotal moment in the integration of AI in professional services. By leveraging AI technologies, they aim to deliver innovative solutions and drive sustainable growth in the sector. This collaboration sets a new standard for the industry and paves the way for further advancements in AI-driven professional services.
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