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KPMG Aus launches ‘affordable’ AI assistant for clients

KPMG Australia has recently made an exciting announcement regarding the release of KPMG KymChat, their Generative AI agent. 

This innovative technology aims to provide clients with an affordable and efficient way to accelerate their AI journey. Initially launched internally in March 2023, KPMG employees have been able to access the immense processing power of the world’s fifth-largest supercomputer through a digital assistant called KPMG KymChat. This breakthrough technology allows employees to harness the capabilities of AI while ensuring that client data remains securely within the KPMG environment.

Now, Australian organizations will have the opportunity to implement their own version of KPMG KymChat through an “Accelerator” solution. This solution combines the use cases, features, and valuable lessons learned from KymChat, along with bespoke consulting services, tailored specifically for each organization.

John Munnelly, the Chief Digital Officer of KPMG, expressed the motivation behind this release, stating, “Many Australian organizations are facing challenges with the rapid deployment of AI. We received numerous inquiries about how we were utilizing KymChat as an internal tool, which led us to develop a version for our clients. With the recent release of Microsoft Azure OpenAI services, we can leverage their best AI practices and patterns, as well as the insights we’ve gained at KPMG.”

Microsoft Australia and New Zealand’s Chief Technology Officer, Lee Hickin, also emphasized the significance of this launch. He believes that it offers KPMG clients a wonderful opportunity to gain a deeper understanding of how AI can enhance productivity and revolutionize their operations. As businesses continue to explore various ways to apply AI tools effectively, the true potential of responsibly managed AI becomes increasingly apparent.

The KPMG KymChat Accelerator solution complements a vast array of AI and technology services offered by KPMG Consulting and their tech enablement teams. The primary goal of this accelerator is to provide Australian organizations with hands-on experience in implementing AI while prioritizing data privacy and compliance.

Munnelly further explained, “Businesses often struggle to determine the best starting point for piloting AI within their organization. They are seeking a secure enterprise AI solution that complies with Australia’s privacy regulations. We are thrilled to launch KPMG KymChat as a cost-effective means for clients to fast-track their AI projects and provide their employees with a safe-to-use generative AI platform.”

The development of the KPMG KymChat AI solution is the result of a strategic alliance between KPMG and Microsoft, specifically utilizing Microsoft Azure’s OpenAI platform. This collaboration ensures that clients receive state-of-the-art technology and support to maximize the potential of AI while maintaining high standards of security and compliance.

KPMG and Microsoft forge partnership 

Earlier, KPMG and Microsoft joined forces to revolutionize the field of professional services. This multi-year alliance will prioritize workforce modernization, secure development, and the implementation of Artificial Intelligence (AI) solutions across various industries.

With a commitment worth billions of dollars over the next five years, KPMG will heavily invest in Microsoft’s cloud and AI services. This collaboration aims to unlock potential growth opportunities of over US$12 billion for KPMG. By harnessing the power of Microsoft’s cloud and Azure OpenAI Service capabilities, KPMG’s global workforce of 265,000 employees will be able to unleash their creativity, provide quicker analysis, and dedicate more time to strategic advice. This will empower them to assist clients, including over 2,500 joint clients of KPMG and Microsoft, in navigating the ever-evolving AI landscape and overcoming their most significant business challenges.

As an early access partner for Microsoft 365 Copilot and Azure OpenAI Service, KPMG professionals will actively pilot these cutting-edge technologies with select business groups across the organization. By combining these advanced tools with their valuable experience, insights, and sector expertise, they aim to enhance client engagements and accelerate the development of digital solutions.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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