In a conversation about the evolving landscape of artificial intelligence (AI) integration in business, David Rowlands, KPMG’s global head of AI, sheds light on the existing challenges firms encounter as they harness AI’s potential. Rowlands outlines a strategic shift from focusing on isolated AI use cases to embedding AI into the core operations of companies, illustrating a significant paradigm shift in realizing AI’s benefits.
KPMG, renowned among the Big Four consultancies, has strategically integrated AI across its multiple divisions, from accounting to advisory, ensuring that all employees have access to AI tools, including variations of GPT. Rowlands emphasizes that AI speeds up existing tasks, a crucial advantage for the workforce. However, many companies are still progressing through their AI adoption journey, grappling with initial concerns of ethics and trust, and now focusing on realizing tangible business outcomes.
The emphasis, Rowlands notes, should be on embedding AI into the operating model rather than on single-use AI applications. KPMG encourages clients to view AI not just as a tool for specific tasks but as an integral part of the business structure that can drive growth and enhance efficiency. Clear business cases help in realizing returns on AI investments, a topic that continues to intrigue CEOs worldwide.
KPMG’s significant financial commitment to AI, including a $2 billion investment over five years in partnership with Microsoft and a $100 million investment in Google Cloud, highlights the firm’s confidence in AI as a driver of growth and quality. While some experts debate the pace of AI advancements, KPMG’s approach has already shown efficiencies, with AI systems such as copilot saving time weekly for users.
Data management emerges as a critical component in the AI equation. According to Rowlands, the companies that will stand out are those adept at managing and curating their data. As AI technologies evolve, particularly with the expected rise of multi-agent models, data’s role is anticipated to grow, addressing global challenges like decarbonization.
Training is essential to equip the workforce for the AI-driven future. Rowlands mentions initiatives like KPMG’s ’24 hours of AI’ training, empowering employees to use AI effectively in solving real-world problems. This preparation aims to ensure employees are adept in data management and innovation, paving the way for responsible AI utilization.
Rowlands acknowledges the transformative effect of AI on the professional-services industry, focusing on role enhancement rather than replacement. AI is seen as a tool that enhances individual roles and contributes to more successful outcomes, ensuring that consultants continue to provide valuable insights and services to clients.
As businesses navigate the complexities of AI integration, embracing AI as a fundamental aspect of operations rather than an isolated tool appears essential. KPMG’s strategic investments and training initiatives underscore the importance of a holistic approach to AI, emphasizing growth, quality, and workforce empowerment for an AI-enhanced future.
Source: Businessinsider
