KPMG plans to invest $2 billion on cloud and AI services

KPMG's investment will support generative AI, a technology that many companies are eager to integrate, to save costs and produce new efficiencies.

Through an expanded cooperation with Microsoft, KPMG aims to invest $2 billion in artificial intelligence and cloud services across its business lines internationally over the next five years, the latest effort by a Big Four accounting firm to double down on the technologies. KPMG's investment will support generative AI, a technology that many companies are eager to integrate into their accounting systems in order to save costs and produce new efficiencies.

The professional services firm stated on Tuesday that it anticipates the agreement to generate more than $12 billion in revenue over the course of five years. That would amount to nearly 7% of KPMG's annual global revenue, which was $34.64 billion for the fiscal year that concluded on September 30, 2022.

The roughly 265,000-person corporation will further automate portions of its tax, audit, and consulting services through the additional investment, with the goal of enabling staff to conduct analysis more quickly, spend more time providing strategic advice, and assist more businesses in integrating AI into their operations. KPMG will get early access to Microsoft 365 Copilot, an AI assistant, as part of the expanded relationship before it becomes available to the broader public.