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

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Bookings for KPMG’s Google Cloud practice have increased by 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, industry expertise, and technical resources for enterprises. 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 AI adoption across industries, with an initial focus on the consumer and retail, healthcare, and financial services sectors.

Building on Gen AI Success at KPMG

KPMG has successfully deployed Vertex AI Search internally to better connect and analyze its corpus of data. The technology can enable more accurate and efficient ways of exploring a wide range of datasets. 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, analyze market trends, and summarize lengthy reports with ease.

“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, 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.”

“This investment marks an exciting milestone in KPMG’s commitment to bringing our clients the best talent and a leading technology ecosystem,” said Carl Carande, Global Head and U.S. Vice Chair – KPMG Advisory. “As technological innovation accelerates and our clients’ needs rapidly evolve, technology partners like Google Cloud are critical to building capabilities in AI, data, and cloud that help us drive sustainable and innovative growth for our clients and our firm.”

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Sourcr – Prnewswire