KPMG and Google Cloud announce $100 million investment to accelerate AI generation and data analysis

KPMG and Google Cloud announced a major expansion of their U.S. alliance focused on advancing generative AI, data analytics and cybersecurity among Fortune 500 and global enterprises. KPMG will make a historic $100 million investment in its Google Cloud practice, which KPMG estimates will generate $1 billion in additional growth for the company.

Bookings for KPMG’s Google Cloud practice have grown 10x over the past two years, and in April 2024 the firm created a Google Cloud Center of Excellence (CoE) to centrally align its product development, its industrial expertise and technical resources for businesses. With today’s new investment, KPMG will collaborate on new solutions with Google Cloud to help clients solve complex business challenges, focusing on data modernization and responsible adoption of AI across all industries. sectors, with an initial focus on the consumer and retail, healthcare and financial services sectors.

Building on the success of the AI ​​generation at KPMG

KPMG successfully deployed Vertex AI Search internally to better connect and analyze its corpus of data. Technology can make it possible to explore a wide range of data sets more accurately and efficiently. Building on this experience, KPMG is currently developing advanced generation AI agents for clients to further improve knowledge assistance and data management experiences. By creating AI agents with Vertex AI and anchoring data with augmented retrieval generation (RAG) techniques, KPMG can help analysts perform financial research tasks, analyze market trends, and summarize easily produce long reports.

Expanded Alliance Investments

The broader alliance’s focus areas include:

• Bringing Vertex AI and Gemini models to financial services customers, helping automate time-consuming processes such as fraud and financial crime detection and commercial lending.
• Improve patient support for healthcare providers, using the Google Cloud Healthcare API to help doctors with how they conduct research and clinical trials. New solutions can help clinicians in critical areas like disease detection and care management.
• Optimizing consumer and retailer experiences, with next-generation AI use cases that help businesses operate more efficiently and better personalize the way end customers interact with their brands. For example, KPMG recently helped a large multinational retail company create a 360-degree view of its data using Google BigQuery, giving managers the ability to create real-time, self-service reports with insights actionable insights that improve personalization and increase revenue.

KPMG and Google Cloud are committed to the responsible, safe and secure use of AI technology. In addition to industry-specific responsible AI offerings, KPMG is providing clients with cutting-edge security operations and cloud security solutions based on Google Cloud’s suite of security products.

Through this expanded alliance, KPMG and Google Cloud will help businesses harness the power of AI generation to solve complex business challenges and drive sustainable growth. With this new investment, the couple will accelerate data modernization and AI generation adoption across industries, enabling customers to gain a competitive advantage and transform their business.