Microsoft and KPMG Strike $2 Billion AI Partnership

In a report by Axios, KPMG stated that it will invest at least $2 billion in partnership with Microsoft in generative AI and cloud tools. The partnership will see this investment spread over the next five years. When considering the rapid advancement of AI, this partnership between Microsoft and KPMG is another example of Microsoft’s commitment to investing in AI for the foreseeable future.

For those unfamiliar with KPMG, they are a firm specializing in tax, audit, and advisory services that work with businesses to improve their overall performance while contending with compliance and risk. Part of the goal of this partnership is to improve their products using AI according to their CEO Paul Knopp.

In Knopp’s view, generative AI is how they plan on optimizing workflows, “There’s no doubt that as you try to optimize the internal workings of an organization, that generative AI is going to help point us in the right direction [of] more effective and efficient ways to do business in the future.”

He continued, “We’re pretty confident, over the next several years, that we’ll create $12 billion of global opportunities for additional revenue for KPMG.”

The partnership will see both Microsoft and KPMG work together to help train KPMG’s 265,000+ global employees on how to use AI and new products. Part of this will see audit and tax teams using these new tools to access and interpret regulations faster through the use of generative AI.

But there is also the business intelligence side. Consultants could also take their proposals and use AI tools to test for potential outcomes. From ensuring that a product launch might do well in a certain market, to creating a new digital strategy.

This all comes as Pitchbook reports that the market for AI enterprise applications is expected to almost reach $100 billion dollars by 2026. That would be almost double from today’s $43 billion. And with it, a great deal of capital as investors are betting heavily on AI’s ability to reshape the economy.

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