In line with the alliance, KPMG will make multibillion-dollar investment in Microsoft cloud and AI services over the next five years and it is expected to help the company to explore potential incremental growth opportunities of more than $12bn
KPMG to make multibillion-dollar investment in Microsoft cloud and AI services over the next five years. (Credit: DennisM/Wikimedia Commons)
Microsoft has expanded its partnership with audit, tax, and advisory services provider KPMG to bring artificial intelligence (AI) solutions to the forefront of professional services.
In line with the alliance, the next five years will see KPMG making a multibillion-dollar investment in Microsoft cloud and AI services. This is expected to help KPMG unlock opportunities for potential incremental growth of more than $12bn.
Besides, the extended collaboration will boost KPMG client engagements and enhance the employee experience responsibly and safely, said Microsoft.
According to the technology major, the Microsoft cloud and Azure OpenAI Service offerings will bolster KPMG’s global workforce of 265,000 to open up their creativity and provide quicker analysis as well as devote more time to strategic advice.
Microsoft chairman and CEO Satya Nadella said: “We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services.
“Our expanded partnership with KPMG will bring together AI innovation across the Microsoft Cloud with KPMG’s tax, audit and advisory expertise to empower its employees and unlock insights for its customers.”
KPMG professionals will pilot the technologies as an early access partner for Microsoft 365 Copilot and Azure OpenAI Service with select business groups within the global organisation.
By combining the improved capabilities of the tools with expertise, insights, and sector knowledge, KPMG professionals will improve client engagements and speed up the development of digital solutions.
The partnership will see the infusion of data analytics, AI, and Azure cognitive services into the audit process, through the KPMG smart audit platform KPMG Clara.
It will enable 85,000 audit professionals who collectively work on hundreds of thousands of audits a year to focus more closely on higher-risk areas of the audit, sector-specific risks, and challenges.
Furthermore, Azure OpenAI service and Microsoft Fabric will be integrated into KPMG Digital Gateway to provide clients with access to the full suite of KPMG Tax & Legal technologies.
KPMG International global chairman and CEO Bill Thomas said: “Our renewed and strengthened relationship with Microsoft is an exciting moment for our people and our clients.
“It will help harness the power of our multidisciplinary model by ensuring that our people always have the right expertise, skills, and tools to overcome challenges and provide the very best advice to clients.”
Separately, various media outlets have reported that Microsoft is moving closer to completing its $69bn acquisition of Activision Blizzard as a US federal judge has rejected the US Federal Trade Commission’s (FTC) attempt to halt the deal.