At KPMG, we see artificial intelligence (AI) as a combination of three distinct fields: classic AI, which includes machine learning and deep learning; automation; and advanced analytics. The ability to properly leverage data, analytics and AI can truly empower transformation, but this is not an easy journey for companies to undertake. AI still is not something that can be purchased – it must be built.
AI is transforming the way businesses are run
AI offers tremendous opportunity for automation and digital transformation. Done right, AI won’t eliminate jobs; it will upgrade them. By removing some of the repetitive or mundane tasks associated with our work, it will give us more freedom to apply creativity and human judgement.
Many enterprises are still at an early stage in their AI journey, and are focusing on prototypes and planning. For these organizations, it’s important to prioritize the use cases and capabilities that will provide the best value from AI.
Organizations that have already begun the transformation to AI should be looking for ways to obtain repeatable value. Leveraging platforms such as KPMG Ignite, run on the Microsoft Azure intelligent cloud, which offer pre-built integration with containers and APIs, is a good strategy here.
One way that organizations can see an immediate result with AI is through knowledge mining. By using natural language processing (NLP), AI can mine many thousands of documents and determine outcomes faster, and more accurately, than humans. For example, a KPMG member firm worked with a large energy company on a project to optimize the management of contracts across the business. AI allowed the company to process a variety of document types, determine adherence to compliance, facilitate contracts integration through an acquisition, and automate the assimilation process when a new business application was implemented.
Driving opportunities for growth with AI
Organizations that adopt AI are going to be better placed to maintain their competitive advantage. To get the most out of this transformation, I would urge you to look for ways to embed AI throughout the enterprise. This will allow your company automate, accelerate and enhance key business processes to transform at scale.
KPMG member firms are contributing to this journey by advising clients on the strategy and the path to take with AI. We also package and infuse AI within solutions and services that are designed to benefit clients and KPMG. We look at this space from a business point of view, while still considering the technology. Our Center of Excellence for Data, Advanced Analytics and AI is the KPMG Lighthouse, which is now a worldwide model supported by data scientists, data engineers and software engineers from across the KPMG global network.
KPMG’s alliance with Microsoft allows us to collaborate from the beginning of ideation, through joint development and client deployments, all the way to the continuous evolution of KPMG managed services with Microsoft’s technology. Our Digital Solution Hub leverages Microsoft Azure intelligent cloud services, AI and KPMG professionals’ business experience to provide clients with a portfolio of digital solutions. A recent analyst report ranked KPMG as one of the top providers to generate value with AI on Microsoft technology.
As we look to the future, I see many exciting opportunities and I believe that we’ve only scratched the surface of the possibilities that we will explore together. In fact, this revolution is not just about technology, it’s really about a monumental transformation of human beings. It’s about change and, therefore, change management. The true leaders will be the ones who succeed in doing business in wholly different ways, with humans and machines complementing each other.