KPMG, Microsoft to harness AI services, unlock $12-bn earning potential

KPMG and Microsoft have announced a strategic partnership aimed at utilising AI services across various departments. The five-year long collaboration will enable KPMG to leverage the latest AI and cloud technologies provided by Microsoft.  

The primary objective of this partnership is to unlock a significant earning potential of over $12 billion. The decision follows Accenture's pursuit of technologies to navigate a slowdown in advisory deals. As part of the deal, KPMG will integrate AI into its core audit, tax, and advisory services. The expanded partnership seeks to provide support to both KPMG's clients and the 2,500 customers served jointly by KPMG and Microsoft.  

As part of the collaboration, KPMG has committed to investing $2 billion in Microsoft Cloud and AI services over the next five years. Additionally, KPMG will have access to Microsoft 365 Copilot and Azure OpenAI Services.  

Bill Thomas, Global Chairman and CEO, KPMG International, said: “Our renewed and strengthened relationship with Microsoft is an exciting moment for our people and our clients. It will help harness the power of our multidisciplinary model by ensuring that our people always have the right expertise, skills, and tools to overcome challenges and provide the very best advice to clients. 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.”  

Satya Nadella, Chairman and CEO, Microsoft, said: “We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services. Our expanded partnership with KPMG will bring together AI innovation across the Microsoft Cloud with KPMG’s tax, audit, and advisory expertise to empower its employees and unlock insights for its customers.” 

The strategic partnership between KPMG and Microsoft reflects the ongoing competition among major players such as Microsoft, Google, Nvidia, Intel, and IBM, who are fighting for AI dominance. Nvidia, a chip maker, successfully utilised its AI strategy to drive its market value above $1 trillion in May, joining Apple, Amazon, and Microsoft as one of the few companies to reach this significant milestone.