KPMG and Google Cloud Strengthen Cooperation to Promote Corporate Generative AI Usage

Highlights:

• Google Cloud and KPMG have recently announced a significant expansion of their partnership to aid businesses for integration of generative AI technologies into their operations.
• According to Lohr, the partnership combines KPMG’s top-notch expertise in analytics, cloud transformation, and responsible AI with Google Cloud’s dependable infrastructure and cutting-edge capabilities in generative AI.

Google Cloud and KPMG have recently announced a significant expansion of their partnership to aid businesses for integration of generative AI technologies into their operations. As part of the collaboration, KPMG’s expertise in cloud computing, data analytics, and responsible AI will be combined with Google Cloud’s next-generation infrastructure and generative AI capabilities. This includes Google Cloud’s Vertex AI and generative AI app builder products, as well as their large language models (LLMs) and other tools.

The partnership intends to provide practical and real-world applications of generative AI, creating value across multiple industries and enabling employees to adopt data-driven decision-making.

Thomas Kurian, CEO of Google Cloud, said, “Google Cloud is focused on applying generative AI to practical, real-world use cases that will create value across industries. Through our expanded alliance with KPMG, we will accelerate the application of Google Cloud generative AI throughout the world’s largest organizations, helping them deliver innovation and empower employees, create more value from data, and more.”

According to the companies, the expansion of the alliance is in response to the rising demand for AI and cloud-based services. This collaboration will provide customers with the tools and expertise essential to completely leverage generative AI and revolutionize their operations as businesses seek to accelerate digital transformation and innovation.

Todd Lohr, U.S. technology consulting leader at KPMG, stated, “As Google Cloud clients look to embed Google’s generative AI capabilities into their business, our joint team will help them to understand how it can fit into their broader business transformation strategies.”

This partnership expands the successful partnerships between KPMG and Google Cloud. According to Lohr, previous collaborations included the implementation of cloud-based intelligent conversational AI for HSBC, which provides crucial medical predictions from real-time data captured in the ICU, and offers a 360-degree customer view featuring advanced analytics for a global life insurer.

Using Generative AI in Data-driven Decision making

To meet the growing demand for Google Cloud’s AI innovations, KPMG intends to invest substantially in training its team of Google Cloud experts. According to the company’s statement to a leading media house, this will aid the companies to assist customers in integrating Google Cloud’s generative AI technologies into their workplaces and empower them to achieve their business goals efficiently.

Todd Lohr said, “KPMG has focused on expanding our partnership over the past 12 months, building a robust network of certified Google Cloud practitioners (doubling it), as well as a catalog of client successes across multiple industries. We intend to expand this practice to meet the market demands of this rapidly developing space.”

The partnership will initially focus on helping clients in the financial services, healthcare, and retail sectors. According to Lohr, these industries are already experiencing the immediate effects of generative AI. The partnership seeks to assist organizations in these industries with data-driven transformation and decision-making.

Todd Lohr explained, “These industries all have potential use cases across the front, middle and back offices that stand to benefit from generative AI. Our experience shows that the organizations that benefit the most from emerging technologies are those that develop a cohesive strategy rather than operating in siloes. Additionally, these three industries are areas where KPMG and Google Cloud have a strong track record of client success, including the use of AI. This allows us to build on our past portfolio of work and use cases and integrate the capabilities into cloud implementation journeys that are already well underway.”

Ensuring Responsible Adoption of AI

Lohr stated that the companies would closely track the impact of their joint services on extant business models and the potential for developing new models. In addition, they will consider the implications for talent strategy and the means by which consumers can make sure they have the appropriate risk and responsible user controls and governance.

Todd Lohr said, “Over the past 10 years, KPMG has developed robust AI security and responsible frameworks to help clients confidently adopt emerging technologies. KPMG is applying these tried-and-trusted approaches to rapidly develop new solutions while prioritizing protection and adhering to the principles of responsible AI. Trust continues to be a priority for KPMG and is at the center of everything we do. Combining these capabilities with the secure Google Cloud platform means that we can help our clients adopt these capabilities confidently at scale.”

Lohr emphasized that providing clients with generative AI and analytics services on a secure cloud platform helps create a flexible environment. This allows them to rapidly adapt and scale their generative AI capabilities while adapting to a constantly changing industry landscape.

“Combining KPMG’s industry knowledge and functional expertise with Google Cloud technology, KPMG can help businesses harness the potential of generative AI and analytics to quickly adapt in the face of market volatility. We will develop solutions that allow clients to use generative AI to conduct rapid data analysis, putting data at their fingertips to improve decision-making,” he added.

Lohr believes that generative AI will unleash substantial economic value for corporations and society. Nonetheless, he emphasized the importance of implementing responsible and secure practices when coping with such technology.

Lohr added, “Together with our clients, we expect to innovate, learn and build on the potential of the technology. While our initial alliance is focused on three industries in the U.S., we will scale over time, helping clients across industries to reimagine their ways of working and creating value.”