KPMG Australia has launched Solution 49, a new practice to help clients harness the power of cognitive and artificial intelligence (AI). Solution 49 brings together expertise in cognitive computing, big data, analytics, digital business design and anthropology.
The initial local team of 13 specialists, including three partners, will work closely with the firm’s international collective of around 1000 cognitive AI, digital insight and robotics experts in the United States, UK and Germany.
New KPMG partners Rod Bryan, Raphael James and Jon Stone have joined the firm’s fast-growing Management Consultancy business, leading the charge to help clients manage transformations for growth in the rapidly changing globalised economy. They are looking to attract the most experienced practitioners in this emerging area, with expectations that their team will grow to more than 40 cognitive experts by mid-year.
KPMG Australia CEO Gary Wingrove commented: “Businesses are grappling with the pace of change in today’s digital and data driven economy – and it’s only going to get faster. Solution 49x helps clients to achieve competitive advantage by assisting them to find smarter new ways to grow revenue, manage cost and reimagine business opportunities.”
Cognitive technologies parallel human thinking capabilities including processing, sensing, responding and the ability to make decisions based on rationale not just rules.
“It means we are able to draw far more insightful conclusions and provide far more robust advice to go into decision making processes in areas ranging from healthcare to consumer products and financial services. There are tremendous opportunities for all industries to initiate strategies and use of these fast developing cognitive technologies – both today and well into the future,” said Mr Wingrove.
Ian Hancock, Head of Management Consulting for KPMG Australia commented: “Each year, computing power increases more significantly than the sum of all the preceding years. The speed of technological change is breathtaking, and the changes it drives are something that all our clients are trying to grapple with. Questions like ‘how will it affect my organisation?’, ‘what are the implications for my industry?’, ‘how will consumer and workforce behaviours change?’ all need answering,” he said.
“Many businesses are making large investments in analytical or digital capability. However, often these are used for discreet decision making or process automation rather than the integration of multiple processes that are designed to evolve over time. Solution 49x are working with our clients to ensure they can explore the full power of cognitive to generate the best business outcomes designed to support ongoing change.”
Examples of the type of projects Solution 49x will deliver include:
“In this new world, it will be the organisations that sift through the ever increasing amount of data, and build agile systems and processes that consumers recognise as highly personal and relevant to them, that will survive and thrive,” added Mr Hancock.
The Solution 49x name references the discovery earlier this year of the 49th perfect number, and honours the development of previously unimagined computer processing power necessary for the discovery and of course for finding the 50th perfect number, whenever technology allows.
Head of Communications, KPMG
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