KPMG Invests $100 Mn in Its Alliance With Google Cloud

KPMG has introduced a $100 million funding in its alliance with Google Cloud to speed up the adoption of generative Al, information analytics, and cybersecurity amongst Fortune 500 corporations and international enterprises.

This expanded partnership is predicted to drive $1 billion in incremental progress for KPMG.

The funding will give attention to creating new options to assist purchasers resolve complicated enterprise challenges, with an preliminary emphasis on information modernization and accountable Al adoption in sectors like shopper and retail, healthcare, and monetary companies.

KPMG and Google Cloud introduced their alliance in April 2024 when KPMG established a Google Cloud Middle of Excellence (CoE) to align its product growth, trade experience, and technical sources for enterprises. 

KPMG stated that bookings for KPMG’s Google Cloud observe have elevated tenfold over the previous two years, reflecting the rising demand for cloud and AI options.

The expanded alliance will give attention to information modernization and accountable AI adoption throughout varied industries, with an preliminary emphasis on shopper and retail, healthcare, and monetary companies.

The alliance will deliver Vertex AI and Gemini fashions to monetary companies purchasers, serving to automate processes like fraud detection, monetary crime detection, and business lending.

Apart from this alliance with Google, KPMG has additionally fashioned alliances with different main cloud service suppliers to reinforce its Al and digital options choices. For example, in July 2023, KPMG introduced a $2 billion dedication over 5 years to develop its Al and cloud companies by way of a partnership with Microsoft. This collaboration goals to combine Microsoft’s Al instruments, corresponding to OpenAl Service and Azure Al Search, into KPMG’s proprietary generative Al instrument.

Moreover, different Huge 4 accounting corporations like PwC, Deloitte, and EY have additionally constructed partnerships with varied tech giants, together with Google Cloud, Microsoft, and Amazon Internet Companies (AWS), to leverage Al and different digital options for his or her purchasers.