KPMG is heavily investing in AI, with plans to invest $2 billion in AI and cloud services in partnership with Microsoft over the next five years. The firm also announced a $100 million investment in Google Cloud. Rowlands acknowledges that AI will have a transformational impact on the professional services industry, but believes it will enhance roles rather than replace jobs. KPMG is continuing to train its workforce in data curation and AI use.
Key takeaways:
- David Rowlands, KPMG's head of AI, advises businesses not to focus on single-use cases for AI and to sort out their data for a successful AI transformation.
- KPMG has integrated AI into all its operations and is advising global businesses on how to do the same. The firm expects its $2 billion investment in AI and cloud services to generate over $12 billion in revenue over five years.
- Rowlands believes that organizations will be increasingly differentiated by the data they own, and that multi-agent models will have a significant impact on solving major problems like decarbonization.
- KPMG is focusing on training its workforce in data curation and AI use, with the belief that AI will enhance roles rather than replace jobs in the professional services industry.