KPMG to invest $2B with Microsoft to develop AI for firm

KPMG announces a multi-billion-dollar investment in Microsoft’s generative AI and cloud services that will accelerate the use and development of generative AI for KPMG’s audit, tax and advisory clients and its 265,000 people globally. KPMG CEO Paul Knopp joins Caroline Hyde to discuss on "Bloomberg Technology." (Source: Bloomberg)

Ark CEO Cathie Wood speaks to KPMG CEO Paul Knopf - who shares that the firm  is to invest $2B in generative AI and Cyber and cloud solutions in partnership with Microsoft for its audit, tax and advisory clients - and expect it to return in excess of $12B for the firm!

There has been many disruptions in the accounting profession over the years- from ledgers to PCs to accounting software such as MYOB and XERO. These disruptions did not replace jobs but generated economic activity allowing business  to grow.

Paul believed that we are in an era  of the greatest technology disruption that he has seen in many decades - and believes the workforce will grow over the years - with generative AI - employing more  Cyber Professionals, Data Scientists,

Analysts and Auditors - letting AI do more mundane tasks and enabling people to be upskilled to do more interesting things !

 The firm looks forward to partnering with Microsoft to embrace this technology!

Workers will need to be lifelong learners - says Simon Dewar of BSI E’learning and is looking forward to be partnering with Kala Philip, CEO of BSI Learning Institute and Cassandra Parton, CEO of Microsoft training Partner, NEXTTECH Learning, with a view  to help upskill and reskill these humans in areas such as Generative AI, IT and Cybersecurity.

Security , governance and architecture is key for organisations to build and run their businesses. Ongoing training and a mindset of lifelong learning is key to the future of work - says NEXTTECH Director , Craig Saphin

https://www.bloomberg.com/news/videos/2023-07-12/microsoft-s-2-billion-ai-partnership-with-kpmg-video