Microsoft (NASDAQ:MSFT) and KPMG have expanded their global partnership, marking a significant move towards incorporating Artificial Intelligence (AI) into the heart of thier professional services.
The enhanced collaboration spans workforce modernisation, secure development and broader use of AI solutions for clients and industries.
This comprises a multi-billion-dollar investment by KPMG in Microsoft's cloud and AI services over the next five years.
This venture is predicted to unlock considerable growth opportunities for KPMG, potentially exceeding US$12 billion.
Today, we’re expanding our partnership with @KPMG, as we bring together AI innovation across the Microsoft Cloud with KPMG’s tax, audit, and advisory expertise to empower employees and unlock insights for customers in the new age of AI. https://t.co/KiAhfGg31A— Satya Nadella (@satyanadella) July 11, 2023
Leveraging AI and cloud for workforce empowerment
By employing Microsoft's cloud and Azure OpenAI Service capabilities, KPMG aims to equip its global workforce of 265,000 professionals with tools for faster analysis, fostering creativity and focusing on strategic advice.
This approach is designed to help them stay abreast of the rapidly changing AI landscape and ready their clients for future workplace challenges.
KPMG professionals will serve as early access partners for Microsoft 365 Copilot and Azure OpenAI Service.
They will pilot these technologies within select business groups across the global organisation, leveraging these tools' capabilities alongside their professional experience and industry insights to improve client engagement and accelerate digital solution development.
Microsoft CEO and chairman 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."
Social impact and ESG goals
In addition to their primary business objectives, KPMG and Microsoft are aiding businesses in achieving their Environmental, Social and Governance (ESG) goals.
Furthermore, the partners aim to drive social and community impact through their involvement in global education initiatives and strategies aimed at economically empowering underprivileged youths.
KPMG 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."