KPMG and Microsoft have expanded an international partnership aimed at transforming professional services in several business-critical areas, Microsoft said in a July 11 press release.
The areas of this partnership include modernizing the workforce, artificial intelligence (AI) solutions, and safe and secure development, the news release said.
"We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services," Satya Nadella, Microsoft's Chairman and CEO, said in the release. "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."
The expansion includes a multibillion-dollar commitment from KPMG to Microsoft's cloud and AI services over the next five years. The two multinational organizations' partnership will likely open up over $12 billion in "incremental growth opportunities for KPMG," the release stated. The enlarged relationship will improve KPMG client engagements and significantly improve the employee experience in a responsible, reliable, and secure manner, the release said.
The 265,000 people who work for KPMG worldwide will be able to have creativity, conduct faster analyses, and devote more time to providing strategic advice thanks to the Microsoft cloud and Azure OpenAI Service capabilities, the release said. They will be able to assist clients, including the more than 2,500 KPMG and Microsoft joint clients, in keeping up with the quickly changing AI landscape, overcoming their most pressing business problems, and positioning themselves for success in the workplace of the future, the release said. KPMG professionals will test the technologies as an early access partner for Microsoft 365 Copilot and the Azure OpenAI Service.
“Our renewed and strengthened relationship with Microsoft is an exciting moment for our people and our clients," Bill Thomas, KPMG International Global Chairman and CEO, said in the release. "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. It will also help make KPMG a more agile and resilient business that continues to be an interesting and exciting place to work. This expansion of our global alliance builds on the combined power of two world-class organizations that share a common set of core values, working together to responsibly use cutting-edge cloud and AI technologies. KPMG is embracing the future, and we believe that AI is key to unlocking sustainable growth in a way that will build a better future for our people, our clients and society.”
