KPMG and Microsoft enter landmark settlement to place AI on the forefront {of professional} companies


Multi-year cloud and AI alliance to supercharge the worker expertise and speed up innovation for shoppers throughout Audit, Tax and Advisory

KPMG and Microsoft logos
LONDON and REDMOND, Wash. — July 11, 2023 — KPMG and Microsoft have introduced a big enlargement of their world relationship that may reshape skilled companies throughout plenty of business-critical areas together with workforce modernization, secure and safe growth, and use of Synthetic Intelligence (AI) options for shoppers, industries and society extra broadly.

The industry-leading collaboration between the 2 world organizations features a KPMG multibillion greenback dedication in Microsoft cloud and AI companies over the subsequent 5 years that may assist to unlock potential incremental progress alternative for KPMG of over US$12 billion. The expanded alliance will improve KPMG shopper engagements and supercharge the worker expertise in a manner that’s accountable, reliable and secure.

The Microsoft cloud and Azure OpenAI Service capabilities will empower the KPMG world workforce of 265,000 to unleash their creativity, present quicker evaluation and spend extra time on strategic recommendation. It will allow them to assist shoppers, together with greater than 2,500 KPMG & Microsoft joint shoppers, hold tempo with the quickly evolving AI panorama and resolve their biggest enterprise challenges whereas positioning them for achievement sooner or later world of labor.

As an early entry companion for Microsoft 365 Copilot and Azure OpenAI Service, KPMG professionals will pilot the applied sciences with choose enterprise teams throughout the worldwide group, bringing collectively the elevated capabilities of those instruments with their expertise, insights and sector experience to boost shopper engagements and speed up digital resolution growth.

Invoice Thomas, World Chairman and CEO, KPMG Worldwide, mentioned: “Our renewed and strengthened relationship with Microsoft is an thrilling second for our folks and our shoppers. It should assist harness the ability of our multidisciplinary mannequin by making certain that our folks all the time have the correct experience, abilities, and instruments to beat challenges and supply the easiest recommendation to shoppers. It should additionally assist make KPMG a extra agile and resilient enterprise that continues to be an fascinating and thrilling place to work.

This enlargement of our world alliance builds on the mixed energy of two world-class organizations that share a standard set of core values, working collectively to responsibly use cutting-edge cloud and AI applied sciences. KPMG is embracing the long run, and we imagine that AI is vital to unlocking sustainable progress in a manner that may construct a greater future for our folks, our shoppers and society.”

Satya Nadella, Chairman and CEO, Microsoft, mentioned: “We’ve an actual alternative to use this subsequent era of AI to assist rework each {industry}, together with skilled companies. Our expanded partnership with KPMG will convey collectively AI innovation throughout the Microsoft Cloud with KPMG’s tax, audit and advisory experience to empower its staff and unlock insights for its clients.”

The collaboration which spans greater than a decade underpinned by this main enlargement will profit KPMG companies’ core enterprise areas within the following methods:

Audit

By infusing information analytics, AI and Azure Cognitive Providers into the audit course of, by way of the KPMG good audit platform KPMG Clara, 85,000 audit professionals who collectively work on tons of of hundreds of audits a 12 months can be empowered to focus extra carefully on higher-risk areas of the audit, sector-specific dangers and challenges – to the advantage of each stakeholders and capital markets. This integration additionally opens up new market alternatives for KPMG professionals and their shoppers. For instance, with the mixing of Microsoft Material, KPMG groups could have the flexibility to straight level to shopper information as an alternative of getting to ingest it, which is a key element to serving to allow KPMG professionals to carry out audits on a extra actual time foundation.

Tax

Integrating Azure OpenAI Service and Microsoft Material into KPMG Digital Gateway, a KPMG single platform resolution, will give shoppers entry to the complete suite of KPMG Tax & Authorized applied sciences, and permit them to achieve extra built-in and clear entry to their information and take a extra holistic administration strategy to their tax features. This was demonstrated most just lately by way of a co-developed AI resolution utilizing the Azure OpenAI Service that helps to investigate environmental, social and governance (ESG) information, set up information patterns and draft ESG tax transparency studies, all at elevated pace and scale. Moreover, KPMG companies will function a generative-AI powered “digital assistant” to create new shopper service fashions to assist tax professionals grow to be extra environment friendly. It should additionally assist with revenue-generating alternatives similar to product expertise enhancements and Information administration for advanced tax legal guidelines.

Advisory

Growing an AI-enabled software growth and information platform on Microsoft Azure will expedite the creation of specialised options for shoppers, serving to to boost their aggressive benefit and profitability whereas placing ethics and safety on the very core of the choices. The advantages and ongoing success of this continued collaboration already embrace a joint engagement with Coca-Cola EuroPacific Companions (CCEP) of which Peter Brickley, Chief Info Officer at CCEP mentioned, “KPMG and Microsoft are working along with Coca-Cola EuroPacific Companions on progressive use circumstances which pioneer enhancements to back-office effectivity utilizing generative AI on the Azure platform. By utilizing this new expertise, we are going to put together our group for the long run, enhance our worker expertise and assist our progress ambitions globally.”

Making an Impression

KPMG professionals will work along with Microsoft to assist assist companies with their ESG agendas. Constructing on the success of the KPMG Circularity Tracker and an ESG and local weather information administration and analytics resolution, each of which have Microsoft Cloud for Sustainability and Microsoft Azure at their core, joint groups will proceed to assist shoppers to unify their information sources, leverage the required inputs to assist make real-time value-add selections, and assist them to ship on their sustainability commitments.

As well as, to boost the industrial prospects of the settlement, KPMG and Microsoft will proceed to discover and take part in joint alternatives the place they’ll work collectively to drive social and group affect worldwide. These presently embrace the UNESCO world schooling coalition and KPMG’s 10×30 technique to assist economically empower 10 million underprivileged youths by 2030 — by way of schooling, employment and entrepreneurship alternatives. The businesses will even proceed to work collectively to boost the reliability of carbon accounting by way of the Carbon Name to which each KPMG and Microsoft have been founding signatories.

For media inquiries, please contact:

Kathryn Wright, Head of World Exterior Communications, KPMG Worldwide
T: +44 (0)7880784296
E: [email protected]

Microsoft Media Relations, WE Communications for Microsoft

T: +1 (425) 638-7777

E: [email protected]

Some or all the companies described herein will not be permissible for KPMG audit shoppers and their associates or associated entities.

The knowledge contained herein is of a common nature and isn’t meant to handle the circumstances of any explicit particular person or entity. Though we endeavor to offer correct and well timed data, there may be no assure that such data is correct as of the date it’s obtained or that it’s going to proceed to be correct sooner or later. Nobody ought to act on such data with out acceptable skilled recommendation after an intensive examination of the actual state of affairs.

© 2023 Copyright owned by a number of of the KPMG Worldwide entities. KPMG Worldwide entities present no companies to shoppers. All rights reserved.

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Editor’s word – July 12, 2023 – The word to editors about further shoppers already seeing the advantages of KPMG groups was eliminated.

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