KPMG will spend $2 billion on the latest technologies, including cloud services and artificial intelligence, as part of an expanded cooperation with Microsoft, the accountancy firm announced. The decision was made when Accenture decided to turn to cutting-edge technologies in order to weather a downturn in consulting deals. As part of the five-year cooperation, KPMG will integrate AI into its core audit, tax, and advisory services for customers. The strengthened alliance will support 2,500 customers jointly served by Microsoft and KPMG in addition to KPMG's clientele.
Professional services organizations are seeing a slowdown in their operations as a result of a decline in consumers. Another justification is to postpone consulting and transformation projects in order to reduce expenses in a difficult macroeconomic climate. The partnership between KPMG and Microsoft involves the former's five-year, multibillion-dollar commitment to Microsoft cloud and AI services. The enlarged relationship will improve KPMG client engagements and significantly improve the employee experience in a responsible, reliable, and secure manner.
For more effective operations and improved services for its clients, including the more than 2,500 KPMG and Microsoft joint clients, KPMG will employ Microsoft cloud and Azure OpenAI Service capabilities. Additionally, the business will have access to Azure OpenAI Services and Microsoft 365 Copilot.
"This expansion of our global alliance builds on the combined power of two world-class organizations that share a common set of core values, working together to responsibly use cutting-edge cloud and AI technologies. KPMG is embracing the future, and we believe that AI is key to unlocking sustainable growth in a way that will build a better future for our people, our clients and society," said Bill Thomas, Global Chairman and CEO.
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