In a historic collaboration, KPMG and Microsoft have solidified their global partnership to revolutionize the landscape of professional services. The strategic alliance aims to harness the power of artificial intelligence (AI) to drive workforce modernization, safe development practices, and innovative solutions for clients, industries, and society.
As part of the agreement, KPMG has committed to a multibillion-dollar investment in Microsoft cloud and AI services over the next five years. This ambitious venture is projected to unlock over US$12 billion in growth opportunities for KPMG and its clients. By embracing cutting-edge technologies, KPMG seeks to enhance its client engagements and employee experiences responsibly, building trust and safety into every aspect of its operations.
One of the cornerstones of this partnership is the integration of Microsoft's cloud and Azure OpenAI Service, which will empower KPMG's vast workforce of 265,000 employees to become more creative, efficient, and strategic advisors. With this newfound capability, KPMG can assist its clients, including over 2,500 joint clients of KPMG and Microsoft, in navigating the rapidly evolving AI landscape and addressing their most pressing business challenges while preparing for the future of work.
To realize the full potential of the collaboration, KPMG professionals will pilot Microsoft 365 Copilot and the Azure OpenAI Service in select business groups across the organization. This testing phase aims to optimize client engagements and expedite the development of digital solutions that drive innovation in the industry.
KPMG International Global Chairman and CEO Bill Thomas expressed enthusiasm about the strengthened partnership, emphasizing how it will enable KPMG's interdisciplinary model by providing personnel with the necessary expertise, skills, and tools to deliver superior services to clients. Furthermore, the alliance will make KPMG more agile, resilient, and enjoyable to work with.
Microsoft Chairman and CEO Satya Nadella underscored the opportunity to transform the professional services industry through the application of next-generation AI. The collaboration will combine Microsoft Cloud AI innovation with KPMG's expertise in tax, audit, and advisory services, empowering employees and unveiling invaluable customer insights.
Through KPMG Clara, the integration with Microsoft Fabric enables audit professionals to focus on higher-risk areas and sector-specific challenges and improve stakeholder benefits and capital market outcomes. Microsoft Fabric streamlines access to client data, facilitating faster and more efficient audits.
The integration of Azure OpenAI Service and Microsoft Fabric into KPMG Digital Gateway enhances client access to KPMG Tax & Legal technologies, providing a holistic tax function management approach and facilitating faster ESG tax transparency reporting.
The partnership will develop an AI-enabled application and knowledge platform on Microsoft Azure, accelerating the creation of customized solutions for clients and enhancing their competitiveness while prioritizing ethics and security.
The collaboration extends beyond business pursuits, with both companies jointly working on initiatives to achieve environmental, social, and governance (ESG) goals. Leveraging Microsoft Cloud for Sustainability and Microsoft Azure, KPMG and Microsoft will help clients unify data sources, make real-time value-add decisions, and meet their sustainability objectives.
Furthermore, the partnership will drive social and community impact initiatives, including the KPMG 10 x 30 strategy, which aims to economically empower 10 million underprivileged adolescents by 2030 through education, employment, and entrepreneurship.