KPMG’s 2 billion dollar investment in artificial intelligence and the expectation of a return of 12 billion

The company providing professional auditing and consulting services; KPMG has decided to use artificial intelligence and Microsoft cloud services to improve its operations. KPMG has committed to spending at least $2 billion on these Microsoft services over the next five years. KPMG believes the investment will generate $12 billion in potential revenue for the company.

The Big Four accounting firm confirmed this information to the AI ​​Business news organization and said that KPMG is planning to make this $2 billion investment in artificial intelligence and Microsoft cloud services over the next five years.

KPMG has announced that it expects to generate more than $12 billion in potential revenue for its company by investing heavily in more advanced technologies such as artificial intelligence and workforce modernization. Because they believe that this will allow them to provide better services to their customers.

KPMG’s investment is also expected to enhance the productivity, creativity and user experience of the firm’s 265,000 global employees worldwide.

As part of its partnership with Microsoft, KPMG will have access to new and special technology tools that are not yet available to the public. For example, the company will have early access to Microsoft 365 Copilot, an artificial intelligence assistant built into Microsoft 365 applications. In addition, KPMG will also have access to the Azure OpenAI service, a tool that allows developers to use models created by OpenAI to build new AI applications.

This early access enables KPMG to test these technologies with only a select few clients. This type of limited testing is important because it allows KPMG to see how well new technologies work and how their clients respond to them before making them widely available to the public.

KPMG International CEO Bill Thomas said in a statement: “KPMG is embracing the future by harnessing the potential of artificial intelligence, and we believe that artificial intelligence is the key to unlocking sustainable growth in a way that creates a better future for our people, clients and society. Makes.”

In particular, KPMG plans to use data analytics and artificial intelligence to automate, accelerate and enhance its audit, tax and advisory capabilities. The company uses these technologies to automate certain activities that are currently done manually.

For example, KPMG and Microsoft recently partnered to develop an AI solution that can analyze environmental, social and governance (ESG) data faster and at scale. In addition, KPMG plans to launch a virtual assistant that uses artificial intelligence to help tax professionals and make them more efficient in their tasks.