NEW YORK, Dec. 10, 2020 /PRNewswire/ -- KPMG LLP (KPMG) has been granted a patent by the United States Patent and Trademark Office for KPMG Ignite, its artificial intelligence (AI) platform and capabilities. KPMG's new patent – U.S. patent 10,846,341 – is a core component of KPMG Ignite, which enables rapid AI solution development and delivery by enhancing, accelerating and automating decisions and processes that drive growth, manage risk and optimize cost.
Ignite enhances the value of our alliances with a number of our strategic partners. It integrates with, and augments, their technologies to enable intelligent, cloud-based solutions to advance our clients' digital transformation initiatives.
The platform brings together machine learning, deep learning and natural language processing – as well as document ingestion and OCR capabilities – applying them to structured and unstructured data, voice and images. The platform enables KPMG's resources to provide proprietary capabilities, accelerate development of solutions, and "time to market." And by leveraging the firm's relationships with leading technology companies, KPMG can supplement these solutions with advanced data and analytics applications, enterprise systems and end user interfaces to help clients digitally transform their enterprises.
"Given all the uncertainty created by COVID-19, organizations need to analyze how to effectively navigate through disruption, and prepare for various business contingencies. They can do this best by leveraging a stronger forecasting and modeling approach – powered by AI-driven analysis," said John Lee, KPMG Ignite co-inventor and managing director, Data and Analytics at KPMG US.
KPMG Ignite helps our clients to swiftly adapt to potential emergencies such as COVID-19 by using intelligent automation to accelerate and enhance their operations, through sophisticated data and analytics and AI.
In addition to John Lee, KPMG Ignite was co-invented by the KPMG team of Timothy Cerino, Justin Edwards, James Gardner and Ricardo Manuel Ramos Dos Santos Neves, under the direction of the KPMG Ignite global product owner, Traci Gusher.
While KPMG has been using the KPMG Ignite platform for several years on a variety of client challenges and opportunities, use of the platform has accelerated significantly since the start of the COVID-19 pandemic. For example, with shutdowns disrupting supply chains across the globe, KPMG was able to deploy its Cognitive Contract Management solution, powered by KPMG Ignite, to quickly help suppliers and healthcare organizations understand whether they were bound by termination clauses that could have significant downstream impacts. For other clients, the platform capabilities have been utilized to understand and analyze customer related conversational data to improve service and reduce costs. KPMG Intelligent Forecasting, powered by KPMG Ignite, has also been used to enable short- and long-term revenue and earnings forecasting for product lines, brands, or full divisions across many clients and industries.
KPMG Ignite is one component of KPMG's intellectual property portfolio and builds on strategic investments in emerging technologies, as well as partnerships with some of the world's leading technology companies, to develop and deploy technology-based solutions to complex business challenges.
"KPMG Ignite offers our clients one of the most advanced suites of AI tools, solution capabilities and accelerators. With KPMG Ignite, we can move quickly to help clients capture the most value in this era of exponential technology change on some of their most challenging issues and opportunities. The patent verifies the value we are offering our clients, particularly as we meet their needs during the pandemic," said Traci Gusher, KPMG's US national leader, Artificial Intelligence and Enterprise Innovation.
For more information about KPMG Ignite, or to schedule a demo, visit: https://info.kpmg.us/artificial-intelligence.html. To learn more about COVID-19 rapid response solutions powered by KPMG Ignite, visit: https://advisory.kpmg.us/services/data-analytics/ignite/rapid-response-solutions-covid-19.html.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
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Contact: Melanie Malluk Batley
SOURCE KPMG LLP