KPMG TO ADVANCE AND SCALE GENERATIVE AI TECHNOLOGIES FOR ITS CLIENTS AND TALENT

NEW YORK, May 4, 2023 /PRNewswire/ -- KPMG LLP, the U.S. audit, tax and advisory firm, today announced a new initiative to deploy a series of generative artificial intelligence (AI) investments and alliances to empower its workforce, further advance cutting-edge client solutions and reimagine how the 125-year-old firm operates.

"KPMG is building on its long-term investment in responsible AI to lead us into a new era of professional services that will revolutionize how we deliver value for clients and empower our people across the markets we serve," said Paul Knopp, KPMG U.S. Chair and CEO. "With generative AI capabilities at our fingertips, we are committed to delivering technology-enabled solutions in a responsible and secure manner that maintains the trust of our clients, people and regulators."

Putting generative AI in the hands of all KPMG partners and professionals

KPMG is making generative AI capabilities available to both client-facing teams and business support teams such as finance, HR and corporate affairs. A comprehensive firmwide education and skill-building initiative is also underway.

"As our industry is experiencing a watershed moment, we are accelerating AI-powered solutions across our firm," said Will Williams, KPMG U.S. Vice Chair of Operations. "Over the past decade, KPMG has developed robust responsible AI and security frameworks that we're now applying to our own operations, allowing us to move quickly while ensuring we protect our firm and our clients. KPMG is rapidly introducing generative AI solutions that allow our professionals to make smarter, faster business decisions and create real-time value for our clients."

Helping our clients harness the power of generative AI and evolve their business models to capture the opportunity, while managing risk

KPMG's long-standing technology alliances with leading AI-focused companies will serve as a cornerstone for building out the firm's capabilities and new client solutions, and the new initiative will also be responsible for advancing KPMG's acquisition strategy related to generative AI.

"We are dedicated to empowering our clients to embark on AI-driven transformations and responsibly unlock the potential of generative AI," said Carl Carande, KPMG U.S. Vice Chair of Advisory and Global Head of Advisory. "Our approach fosters unprecedented agility and scalability, enabling organizations to establish innovative business models, gain a competitive edge, and create significant economic value."

Evolving KPMG's client service delivery models to ensure clients benefit from the power of the technology

The firm's investments in generative AI will ensure all clients benefit from generative AI. In the coming months, virtually all client service delivery models will have built-in, generative AI and machine learning capabilities combined with enhanced analytics integrated with firm data sets and solutions – all within the firm's secure cloud environment to protect client and firm data.

"Generative AI is one of the most transformative opportunities to empower our people and create game-changing outcomes for clients," said Lisa Daniels, KPMG U.S. Vice Chair of Growth and Strategy. "In addition to a number of robust internal programs already in place, the firm has identified nearly a dozen additional artificial intelligence trainings to enable firmwide immersion and enhanced skill-building that will enable our professionals to responsibly harness the power of the technology to deliver value for our clients."

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 143 countries and territories and has more than 265,000 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. 

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. Learn more at www.kpmg.com/us. 

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Media Contact: Alison Wentley, [email protected]

SOURCE KPMG LLP