KPMG plans to invest $2 billion in artificial intelligence and cloud services across its business lines globally over the next five years through an expanded partnership with Microsoft, the latest move by a Big Four accounting firm to double down on the technologies. The professional-services company on Tuesday said it expects the partnership to bring in more than $12 billion in revenue over five years. Annually, that would represent about 7% of KPMG’s global revenue, which totaled $34.64 billion in the year ended Sept. 30, 2022. The company, the smallest of the Big Four by revenue, declined to provide a projected revenue figure for the year ending this September. Through the new investment, the roughly 265,000-person company will further automate aspects of its tax, audit and consulting services, aimed at enabling employees to provide faster analysis, spending more time on doling out strategic advice and helping more companies integrate AI into their operations. Microsoft declined to comment on the investment it is making in the partnership.
Full story : KPMG Plans $2 Billion Investment in AI and Cloud Services.
