KPMG Invests USD 100 Million in Google Cloud Alliance to Accelerate Enterprise AI Adoption

KPMG and Google Cloud announced on Wednesday a major expansion of their US alliance, focused on advancing generative AI, data analytics, and cybersecurity solutions among global enterprises. KPMG revealed plans to invest USD 100 million over the next few years to bolster its enterprise artificial intelligence services through its partnership with Alphabet’s Google Cloud. The move is expected to generate USD 1 billion in incremental growth for KPMG through solutions powered by Google Cloud’s generative AI technology.

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Growth in Google Cloud Bookings

KPMG has reportedly seen a 10x increase in Google Cloud-related bookings over the past two years. In April 2024, KPMG created a Google Cloud Center of Excellence (CoE) to align its product development, industry expertise, and technical resources for enterprises. With the new investment, KPMG will collaborate on new solutions with Google Cloud to help clients solve complex business challenges, focusing on data modernisation and responsible AI adoption across industries. Initial efforts will target the consumer and retail, healthcare, and financial services sectors.

KPMG said it has deployed Vertex AI Search internally to better connect and analyse its corpus of data. Building on this experience, KPMG is now developing advanced gen AI agents for clients to further enhance knowledge assistance and data management experiences. By building AI agents with Vertex AI and grounding data through retrieval augmented generation (RAG) techniques, KPMG can help analysts complete financial research tasks, analyse market trends, and summarise lengthy reports with ease.

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Transforming with Generative AI Solutions

“By tailoring solutions to the specific customers, business models, and workflows of each industry, KPMG and Google Cloud will empower our clients to fully leverage AI and drive value across their enterprises,” said Steve Chase, Vice Chair at KPMG, Artificial Intelligence and Digital Innovation. “Integrating KPMG’s deep industry, data and AI expertise with Google Cloud’s cutting-edge AI technology is a powerful combination that has boosted our clients’ market advantage, and this expansion will scale the impact we deliver for clients.”