This expanded partnership is expected to drive $1 billion in incremental growth for KPMG.
The investment will focus on developing new solutions to help clients solve complex business challenges, with an initial emphasis on data modernization and responsible Al adoption in sectors like consumer and retail, healthcare, and financial services.
KPMG and Google Cloud announced their alliance in April 2024 when KPMG established a Google Cloud Center of Excellence (CoE) to align its product development, industry expertise, and technical resources for enterprises.
KPMG said that bookings for KPMG's Google Cloud practice have increased tenfold over the past two years, reflecting the growing demand for cloud and AI solutions.
The expanded alliance will focus on data modernization and responsible AI adoption across various industries, with an initial emphasis on consumer and retail, healthcare, and financial services.
The alliance will bring Vertex AI and Gemini models to financial services clients, helping automate processes like fraud detection, financial crime detection, and commercial lending.
Besides this alliance with Google, KPMG has also formed alliances with other major cloud service providers to enhance its Al and digital solutions offerings. For instance, in July 2023, KPMG announced a $2 billion commitment over five years to expand its Al and cloud services through a partnership with Microsoft. This collaboration aims to integrate Microsoft's Al tools, such as OpenAl Service and Azure Al Search, into KPMG's proprietary generative Al tool.
Additionally, other Big Four accounting firms like PwC, Deloitte, and EY have also built partnerships with various tech giants, including Google Cloud, Microsoft, and Amazon Web Services (AWS), to leverage Al and other digital solutions for their clients.
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