The accounting firm plans to utilize AI for consulting on intricate matters in tax, legal, and human resources, including conducting due diligence on companies, identifying compliance issues, and even advising on the authorization of business deals.
Key takeaways:
- PricewaterhouseCoopers LLP has partnered with OpenAI, the owner of ChatGPT, to provide AI-generated advice to clients.
- The move is part of an effort by the Big Four audit firms to reduce costs and increase productivity.
- The AI will be used to consult on complex matters in tax, legal and human resources, including due diligence on companies, identifying compliance issues, and recommending business deals.
- The announcement was made on October 17, 2023.