KPMG and Microsoft Launch Multibillion-Dollar AI Partnership, Unlocking Over US$12 Billion Growth Opportunity
In a landmark agreement announced on July 11, 2023, KPMG and Microsoft have pledged to reshape the landscape of professional services by placing Artificial Intelligence (AI) at the forefront of their operations. This significant expansion of their global relationship aims to modernize the workforce, ensure safe and secure development, and broaden the use of AI solutions across industries and society.
The collaboration involves a multibillion-dollar commitment from KPMG in Microsoft cloud and AI services over the next five years. This strategic investment is projected to unlock an incremental growth opportunity for KPMG exceeding US$12 billion, marking a significant milestone in the AI and professional services sector.
Microsoft's cloud and Azure OpenAI Service capabilities will be leveraged to empower KPMG's global workforce of 265,000. The aim is to enhance the speed of analysis and allow more time for strategic advice, helping over 2,500 joint clients of KPMG and Microsoft navigate the rapidly evolving AI landscape.
As part of the alliance, KPMG professionals will pilot Microsoft 365 Copilot and Azure OpenAI Service technologies with select business groups. This initiative is expected to accelerate digital solution development and enhance client engagements.
The collaboration will also infuse data analytics, AI, and Azure Cognitive Services into KPMG's audit process, enabling its 85,000 audit professionals to focus more on higher-risk areas of the audit, sector-specific risks, and challenges. In the tax sector, the integration of Azure OpenAI Service and Microsoft Fabric into KPMG Digital Gateway will provide clients with more integrated and transparent access to their data.
This landmark agreement between
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