AMSTERDAM, May 15, 2019 /PRNewswire/ -- As organizations turn to data-driven technologies such as AI to advance their businesses, the demand for top technology talent is growing. To help develop and attract the next generation of talent, KPMG International created the KPMG Ideation Challenge, a global program that gathers STEM (science, technology, engineering and math) students from around the globe with the aid of solving real-world business issues with AI-driven ideas and solutions.
Out of more than 600 applicants, 9 teams drawn from 65 premier universities across the world were selected to advance to the final of KPMG's second annual Ideation Challenge May 10-12 in Amsterdam. Participating teams were from universities in Australia, Canada, China, Germany, Luxembourg, Italy, Netherlands, UK and US.
This year, the KPMG Ideation Challenge named University of Toronto Team Paramount AI as the winner. Paramount AI's winning idea is a solution that aims to redefine the waste management industry, effectively combining AI and intelligent automation to solve the issue of rising landfills by automating waste segregation at the source. Paramount AI will retain the intellectual property rights to take their solution to market. The team will also attend the KPMG Annual AI Summit in October in Toronto where they will present their idea on a global stage to several hundred KPMG professionals, data scientists, influencers and clients.
Throughout the Challenge event, each team was tasked with applying AI technologies to help solve a real or imagined business issue within an organization of their choice - anything from a not-for-profit organization to a tech startup or a bank. They worked alongside KPMG professionals who helped co-develop their innovative ideas and turn them into prototypes. The students' final submissions were reviewed by a panel of KPMG judges, who scored each submission based on five criteria: innovation, presentation, feasibility, client impact and customer impact.
"The KPMG Ideation Challenge gives talented STEM students the opportunity to ideate, create and build new technology capabilities and apply these to solve some of the most pressing issues facing our society," said Anthony Coops, head of Lighthouse in Australia and a partner with KPMG in Australia. "Through the Challenge these students experience the type of work we do for clients every day and it helps us identify future leaders with the necessary skills to design, develop and deliver industry-leading solutions for clients and for society."
"As a recognized leader in AI services, KPMG rightfully aims to be a beacon for the best and brightest thinkers in AI and data-driven technologies," said Brad Fisher, US leader of Data & Analytics and AI.
"We engender a culture of creativity and collaboration, where ideas have the opportunity to flourish for development. We look forward to welcoming top students like those competing at the Ideation Challenge into KPMG as we help clients transform their businesses with these emerging technologies," he added.
To learn more about the Challenge or for students interested in participating in next year's event, visit ideationchallenge.kpmg.com.
About KPMG International
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ('KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
About KPMG LLP
KPMG is one of the world's leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world's largest and most prestigious organizations.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy.
KPMG LLP is the independent U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's independent member firms have 207,000 professionals working in 153 countries and territories. Learn more at www.kpmg.com/us.
SOURCE KPMG International