KPMG's First Partnership with AI and Future Prospects

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KPMG's First Partnership with AI and Future Prospects

KPMG, a global network of professional firms providing Audit, Tax and Advisory services, has announced its first partnership with AI. The company plans to use AI technology for its audit and client services. Paul Knopp, KPMG's Global Chairman and CEO, shared his insights on the partnership and its implications for the future.




Paul Knopp


Knopp stated that the partnership with AI is expected to generate an additional 10 to 12 billion dollars over the next few years. He believes that this will be the biggest technology disruption in decades and is a top priority for all CEOs and business leaders.

One example of how this AI technology will be implemented is through KPMG's 'Digital Gateway', a tax solution for clients. The integration of generative AI solutions into the Digital Gateway will provide more efficiency and effectiveness in operations. This technology can be applied to almost any business process, from sales and marketing to routine tasks, offering the opportunity to automate and perform higher work.

The partnership with Microsoft involves an investment of 2 billion dollars over the next five years in generative AI and cloud solutions. KPMG and Microsoft have a longstanding relationship, with around 2,500 joint partnerships. Knopp is optimistic about the future of this partnership.

However, Knopp also acknowledged the current economic uncertainty and the impact it has had on decision-making and spending. He anticipates the next three to nine months to be challenging but remains interested in the long-term prospects over the next five years.

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