KPMG and Microsoft have signed a US$12 billion agreement to develop custom artificial intelligence (AI) tools over the next five years.
The global partnership will leverage Microsoft’s cloud and Azure OpenAI Service to improve KPMG’s tax, audit and advisory services, as well as create specific client solutions.
As an early access partner for Microsoft 365 Copilot and Azure OpenAI Service, KPMG staff will pilot the technologies to enhance client engagements and accelerate digital solution development.
The partnership will also extend to clients’ environmental, social and governance (ESG) policies, building on the KPMG Circularity Tracker and its climate data management and analytics solution. These are both underpinned by Microsoft Cloud for Sustainability and Microsoft Azure.
KPMG and Microsoft said they will also work on social change projects such as the UNESCO global education coalition and Carbon Call.
"We have a real opportunity to apply this next generation of AI to help transform every industry, including professional services,” said Satya Nadella, chairman and CEO of Microsoft.
“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."
Bill Thomas, global chairman and CEO at KPMG International said the agreement would see the two parties “working together to responsibly use cutting-edge cloud and AI technologies”.
“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,” he added.