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PwC Partners with OpenAI to Resell ChatGPT Enterprise

AI News | May 30, 2024

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PwC's branches in the U.K. and U.S. have signed an agreement with OpenAI to resell ChatGPT Enterprise

PwC (PricewaterhouseCoopers) has made headlines announcing a groundbreaking partnership with OpenAI, making it the first company to resell ChatGPT Enterprise. This is a major milestone in PwC's AI journey. The deal is part of a broader initiative to incorporate advanced AI tools into their operations, with the goal of boosting productivity, efficiency, and innovation both within the firm and for its clients.

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The partnership with OpenAI perfectly aligns with PwC's $1 billion investment plan over the next three years.  PwC's strategy revolves around using AI to transform business processes and achieve significant gains in productivity. Early implementations of AI tools at PwC have already shown a 20-40% increase in productivity, demonstrating the immense potential of these technologies.  By becoming the first company to resell ChatGPT Enterprise, PwC not only strengthens its own capabilities but also sets an example for other firms to follow.

Key Overview

  • PwC plans to roll out ChatGPT Enterprise to over 100,000 employees in the U.K. and U.S. to integrating AI into their daily work routines and client interactions.  By automating routine tasks and providing advanced data analytics, ChatGPT Enterprise is expected to improve efficiency and give employees more time to focus on high-value activities.

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  • PwC aims to provide its clients with advanced AI-driven solutions, elevating the quality of services in areas like audit, tax, and consulting. PwC will develop tailor-made AI tools to meet the specific needs of different industries, helping clients make better decisions, improve compliance, and achieve operational efficiency.
  • PwC will invest in upskilling employees to ensure they can effectively utilize AI tools, fostering a culture of continuous learning and innovation.

Comparing AI Initiatives of Leading Consulting Firms

Although PwC's collaboration with OpenAI is a noteworthy development, major investments in AI are also being made by other consulting behemoths like Ernst & Young, KPMG, and Accenture (to name a few).

Accenture

Accenture's $3 billion investment in its Data & AI division is having a big impact on the AI industry. With this investment, it hopes to build innovative AI solutions for a range of industries and expand its talent pool to 80,000 specialists in AI. Among the main projects are:

  • Creating AI solutions tailored to particular industries, such as supply chain, healthcare, and finance, in partnership with Microsoft.
  • A tool to assist customers in creating AI business cases and navigating the ethical use of AI.

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  • Accenture and Microsoft are collaborating strategically to deploy Azure OpenAI Service to improve client operations and customer experiences. For the Radisson Hotel Group, for instance, they have created an AI-powered system that enables intelligent management of visitor cancellations and reviews.

KPMG

To improve its service delivery, KPMG is also making significant investments in AI. Among the company's AI-driven projects are:

  • Making use of KPMG's Clara platform to leverage AI to improve audit procedures and assurance.
  • Creating AI systems to help clients in a variety of industries make better decisions and run their businesses more efficiently.
  • Using AI technologies to maximize tax planning and compliance.

Ernst & Young

Ernst & Young (EY) is using AI to spur innovation and provide its clients with more value. Among the noteworthy initiatives are:

  • EY AI Lab, which was founded to research and develop AI technologies for incorporation into EY services.
  • Using AI to produce insights that can be used to detect fraud and manage risk.
  • Working in strategic partnerships to co-develop AI solutions that address certain industrial concerns with digital companies.

Who Will Win the AI Race?

Even though PwC and OpenAI have partnered, Accenture may have a wider and more scalable advantage in the AI race due to its huge AI talent pool and thorough investment. Accenture is well-positioned for widespread AI implementation because to its strategy of creating customized AI solutions and supporting clients throughout their AI adoption journeys.

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But KPMG's targeted and useful AI applications and EY's cutting-edge AI Lab also put these companies in a strong competitive position. In the end, the company that successfully incorporates AI into its client services and operations while showcasing measurable benefits and efficiency gains will probably take the lead.

Conclusion

PwC's pioneering partnership with OpenAI to resell ChatGPT Enterprise is a huge and transformative step in the consulting industry. As PwC integrates AI into its operations and services, it sets a new standard for innovation and efficiency. While competitors like Accenture, KPMG, and Ernst & Young also make significant AI investments, the real winner in this AI race will be the firm that can best demonstrate tangible benefits and operational improvements. The future of consulting is undeniably joined at the hip now with AI.


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