KPMG has estimated it will unlock one billion dollars in growth for the firm through its investment of $100 million into its technological partnership with Google Cloud.
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Known as one of the ‘Big Four’ accountancy firms, KPMG has made what it describes as a “landmark” investment in order to produce new solutions relating to generative AI, data analytics, and cybersecurity.
It believes that these will help its clients across Fortune 500 companies to solve complex business, beginning with those working in financial services, retail, and healthcare.
KPMD has committed to increase its certifications for Google Cloud and generative AI, as well as create Google training and certifications within its own organisation.
Steve Chase, Vice Chair, KPMG, Artificial Intelligence and Digital Innovation, shared his conviction that the partnership would yield positive results for its clients: “By tailoring solutions to the specific customers, business models and workflows of each industry, KPMG and Google Cloud will empower our clients to fully leverage AI and drive value across their enterprises.
“Integrating KPMG’s deep industry, data and AI expertise with Google Cloud’s cutting-edge AI technology is a powerful combination that has boosted our clients’ market advantage, and this expansion will scale the impact we deliver for clients.”
Gen AI at KPMG
KPMG has implemented Vertex AI Search to enhanced data connections and analysis, allowing for new and improved means of exploring datasets.
Now, the company is developing advanced generative AI agents for clients to strengthen knowledge assistance and data management.
AI agents built with Vertex AI, along with grounding data acquired through retrieval augmented generations (RAG) techniques, allows KPMG to pass on the full potential that data has to offer its clients, regardless of their cloud provider.
Key Areas of Investment
The three main areas of investment for this expanded partnership between KPMG and Google Cloud include Vertex AI and Gemini model integration into financial services clients, in order to assist with processes like financial crimes, fraud detection, and commercial lending.
Patient support for healthcare providers is an area of focus. Google Cloud’s Healthcare API will help medical professionals conduct research and clinical trials.
New solutions could also be created to boost detection and treatment for diseases and improve care management.
The latest generative AI use cases could also bolster business operations, as well as personalised customer engagements with brands. For example, KPMG has helped a major international retailer create a complete view of their data via Google BigQuery, thereby giving managers the ability to produce self-service reports with actionable insights.
Carl Carande, Global Head and U.S. Vice Chair – KPMG Advisory, sees this partnership as an important step to keep up with the changing requirements of its clients: “This investment marks an exciting milestone in KPMG’s commitment to bringing our clients the best talent and a leading technology ecosystem.
“As technological innovation accelerates and our clients’ needs rapidly evolve, technology partners like Google Cloud are critical to building capabilities in AI, data and cloud that help us drive sustainable and innovative growth for our clients and our firm.”
Last month, Honeywell and Google Cloud formed a “unique” partnership in which they are deploying AI agents to assist in the industrial sector.