In a groundbreaking move, global professional services provider KPMG has announced a $100 million investment in artificial intelligence (AI) services through a partnership with Google Cloud. The investment will be allocated to both payments directly to Google and in-house efforts to leverage the company’s products to develop AI agents and train KPMG’s workforce.
The partnership comes in response to the increasing demand from large businesses seeking assistance in implementing AI solutions within their operations and product offerings. KPMG’s commitment reflects the growing recognition that AI is moving beyond the proof of concept stage and into full-scale adoption. According to a recent KPMG poll, approximately 50% of surveyed organizations plan to spend $100 million on AI initiatives in the next year, with 20% planning to invest at least $250 million.
KPMG has experienced significant growth in bookings for its Google Cloud-related services, witnessing a ten-fold increase over the past two years. In line with client demands, the company is diversifying its investments across multiple cloud providers. Last year, KPMG announced a $2 billion commitment to expand AI and cloud services through Microsoft.
Google Cloud’s emphasis on partnering with consulting firms is part of its growth strategy, according to Matt Renner, the president of revenue for Google’s cloud division. The company’s impressive third-quarter earnings in 2024, which included a 35% boost in cloud sales, demonstrate the success of this approach. Renner predicts that the major cloud providers, including Amazon, Microsoft, and Google, will continue to grow exponentially alongside professional services firms.
Steve Chase, Vice Chair of AI and Innovation for KPMG, highlighted the significance of the investment, labeling it the “largest direct investment commitment” with Google thus far. He also indicated that there will be additional announcements regarding further investments in this area.
As the collaboration between KPMG and Google Cloud unfolds, this initiative is set to transform the professional services industry and pave the way for further advancements in AI adoption. With KPMG’s expertise and Google’s cutting-edge technology, the partnership is well-positioned to unlock the future of AI.
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