PwC US Announces $1 Billion Investment to Boost AI Capabilities in Partnership with Microsoft
Image credit: PwC
PwC US has revealed plans to invest $1 billion over the next three years to expand and scale its artificial intelligence (AI) offerings, enabling clients to reimagine their businesses through the power of generative AI. The investment aligns with PwC's global strategy, The New Equation, and underscores its commitment to delivering human-led, tech-powered solutions that build trust and drive sustained outcomes.
The investment includes an industry-leading collaboration with Microsoft, leveraging OpenAI’s GPT-4/ChatGPT and Microsoft’s Azure OpenAI Service to create scalable offerings. This partnership will enable PwC to harness generative AI, transforming the way they work and assisting clients in reinventing their businesses, generating richer insights, boosting productivity, and developing new products and services that foster trust with stakeholders.
Mohamed Kande, Vice Chair, US Consulting Solutions Co-Leader and Global Advisory Leader, PwC, states that the investment and collaboration with Microsoft will help PwC and its clients unlock augmented productivity and new growth opportunities associated with generative AI, while doing so responsibly and driving the right results.
PwC has already begun implementing Azure OpenAI Service for clients in various industries such as insurance, aviation, and healthcare, leading to time and cost savings and accelerated revenue growth. Eric Boyd, Corporate Vice President, AI Platform, Microsoft, believes the collaboration with PwC and OpenAI will be a game-changer, enabling businesses to experience generative AI applications in a safe and secure manner.
As part of the investment, PwC will modernize its internal platforms to embed this secure generative AI environment and invest in upskilling its 65,000 employees on AI tools and capabilities. This initiative will support faster and smarter work, career growth, and client advice on the benefits of AI and other transformative technologies.
This investment highlights PwC's long-standing commitment to AI, with the firm's AI Services already recognized as industry-leading by Forrester, Gartner, and IDC. Source