KPMG and Microsoft enter US$12B AI services agreement

KPMG and Microsoft have entered a US$12 billion global partnership to enhance artificial intelligence (AI) services within the professional consulting firm over the next 5 years.

The partnership will see Microsoft cloud and Azure OpenAI Service capabilities improve KPMG global workforce to provide faster analysis and more time for strategic advice.

In Australia, this involves KPMG’s private ChatGPT product KPMG KymChat, which is enabled by Microsoft’s Azure OpenAI platform.

The company first launched KPMG KymChat internally in March 2023, where KPMG employees had access to a digital assistant on their desktop and phone, and could use AI technology in the workplace without having client data leave the KPMG environment.

KymChat is now being launched as a client offering to help increase Australian organisations’ access to affordable AI tools.

Australian organisations will be able to implement their own version of KPMG KymChat through KPMG’s Accelerator solution that combines KymChat’s with its consulting services.

“Many Australian organisations are grappling with the rapid roll-out of AI,” KPMG chief digital officer John Munnelly said.

“We fielded so many enquiries about how we were using KymChat as an internal tool that we decided to launch a version for clients to use."

"This has been made possible with the recent release of Microsoft Azure OpenAI services and will leverage Microsoft’s best AI practices and patterns as well as the lessons we’ve learned at KPMG.”

“We are excited to be able to launch KPMG KymChat as a cost-effective means for clients to fast-track their AI projects and give their people a safe-to-use generative AI platform,” he added.

"The launch provides KPMG clients with a great opportunity to gain a deeper understanding of how AI can enhance productivity and revolutionise their operations,” Microsoft Australia and New Zealand chief technology officer Lee Hickin said.

Microsoft chief executive Satya Nadella weighed in and said the IT giant's 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.