Company will also invest $1bn in further automation of the implementation of quality frameworks in audit
An office of PwC in Cairo, Egypt. (Credit: My Wound/Wikipedia.org)
PricewaterhouseCoopers (PwC) has announced an investment of $12bn and generate 100,000 new jobs in areas like artificial intelligence (AI) and cybersecurity by 2026.
The London-based accounting major said that the new jobs will deepen and grow its capabilities to help it continue to bring together the unique combinations required for helping clients meet the expectations of their stakeholders and society.
Five years from now, PwC’s workforce is expected to cross 384,000 following the additional hires.
In 2019, the company had announced an investment of $3bn on technology and in training of employees over four years. A part of this is being bundled into the new plan.
According to PwC US chairman and senior partner Tim Ryan, the professional services firm is also considering taking up acquisitions to grow capabilities such as climate-risk assessments and others.
PwC stated: “Solving the problems of the future requires teams of solvers – each with real depth in their area of specialism and together combining all the skills needed to solve new and complex challenges.
“Teams powered by technology, and with the flexibility to identify exactly the right platform or product for the task at hand.”
The accounting company said that the most secure way to develop trust and deliver sustained results is by bringing together the combinations of capabilities of auditors and environmental, social, and governance (ESG) experts, tech professionals, and tax professionals.
PwC will also invest to boost quality across its businesses. This includes $1bn to fast track the deployment of technology for further automating the implementation of quality frameworks in audit and also for developing the delivery model for the audits of the future.
The company also plans to continue to quickly extend its use of emerging technologies such as cloud, AI, virtual reality, and others to provide insight and provide clients with a competitive advantage.
PricewaterhouseCoopers International global chairman Robert Moritz said: “We want our people to be the most sought after in the market, because they have the technical, digital and human skills needed to build trust and deliver sustained outcomes.”