KPMG sets $100m spend for Google Cloud AI partnership

Professional services firm KPMG has announced a significant $100 million investment in its partnership with Google Cloud, aimed at accelerating enterprise artificial intelligence adoption across multiple industries.

The four-year strategic alliance will focus on developing advanced generative AI solutions, with most of the investment dedicated to in-house projects leveraging Google’s technology. Steve Chase, vice chair of artificial intelligence and digital innovation at KPMG, highlighted the transformative potential of this partnership.

“We strongly are in the camp that it is moving from proof of concept and experimentation to scaling,” Chase said. “We believe that professional services is going through the largest transformation that it will likely ever go through.”

The investment comes at a time when businesses are increasingly exploring AI capabilities. A KPMG poll revealed that 50 per cent of surveyed companies plan to spend $100 million on AI projects in the next 12 months, with 20 per cent planning investments of at least $250 million.

KPMG anticipates the partnership will drive $1 billion in incremental growth, with initial focus areas including financial services, healthcare, and consumer retail. The firm will develop AI agents and expand staff training, with particular emphasis on Google Cloud and generative AI certifications.

The collaboration will leverage technologies like Vertex AI and Gemini models to enhance various business processes. In financial services, this could include automating fraud detection and commercial lending. For healthcare, the partnership aims to improve patient support and clinical research capabilities.

Matt Renner, president of global revenue at Google Cloud, emphasised the strategic importance of the alliance. “Through this next phase of our partnership, KPMG will help rapidly accelerate generative AI adoption by providing customers with the solutions, expertise, and technical resources needed to maximise potential from this powerful technology,” he said.

Notably, KPMG’s bookings for Google Cloud-related services have increased tenfold over the past two years. The firm is also maintaining a diversified approach, having previously announced a $2 billion commitment to Microsoft’s cloud services in 2023.

Both KPMG and Google Cloud have committed to responsible AI deployment, with KPMG in the process of joining Google’s SecOps programme to deliver advanced cybersecurity solutions.

Carl Carande, global head and US vice chair of KPMG advisory, described the investment as “an exciting milestone in KPMG’s commitment to bringing our clients the best talent and a leading technology ecosystem.”