“How do you innovate in an industry that is centuries old? You find new approaches to doing critical work in radically different ways.” Vinodh Swaminathan, Head of KPMG’s Cognitive Labs and Principal, Intelligent Automation, Cognitive and AI
The power and potential of intelligent automation creates new ways of thinking about work at the intersection of cloud, data, cognitive and other automation technologies. KPMG is applying the power of Artificial Intelligence (AI) and cognitive systems to their audit, tax, and advisory areas. Through our alliance with IBM, KPMG is using innovative technologies like IBM Watson, KPMG is innovating to further empower our employees to work smarter, gain insights faster, sustain execution of high quality audits, and further enhance the value of the services we deliver to tax and advisory clients.
“Having walked the path is different than having talked the path. We take our pragmatic experiences and experiential data points with us to clients to say we’ve gone down that road, we know what it looks like.” Steve Hill, KPMG’s Global Head of Innovation
By incorporating AI and cognitive technologies and re-engineering workflows, we are driving towards a future where our partners’ and employees’ work product is enriched by having powerful insights from relevant structured and unstructured data at their fingertips. In complex areas like audit, tax, and advisory, KPMG seeks to implement innovative tools, including cognitive automation to make our work even more impactful and valuable.
Three lessons KPMG put to use with their Cognitive Lab, by Vinodh Swaminathan
Driving faster, more accurate and more beneficial tax decisions, by Steve Rainey and Brad Brown
Intelligent automation will have an impact on your business now and in the future. The magnitude of disruption will be dramatic—it will be a transformational, generational shift. Don’t wait to get started. If planned and executed correctly, this journey will yield tangible benefits along the way.
Leverage trusted data
Start digitizing your organization now so you can access that data that will enable these advanced technologies and capabilities. Big data may not be as valuable as you think; Invest in identifying trusted data.
Team up on experimentation
Start moving toward intelligent automation with a portfolio of projects. Get comfortable managing the portfolio in an environment with “known unknowns” and “unknown unknowns.” Create the portfolio so each project team learns from every experiment. Having more than one project under way will help you learn quickly, leverage learnings across projects, adapt and keep moving forward.
Intelligent automation will be a process of continuous evolution. To succeed on this journey, enterprises should build a support network of firms that can help them get their journey under way, assist in the transformation, stay up to date on the latest innovations and work toward a goal of becoming self-reliant.
Transformation and change can be hard, and it requires leadership and courage to take a first step when others are comfortable with the status quo. To achieve this, start with proof of value rather than proof of technology. Resist the temptation to answer the question “can we do it” first; instead start with the question “should we do it”. Expect a journey and that courage and leadership will be a critical element of progress and success.
Innovative thinking is an essential response to today’s complex business challenges. Our clients can look to the KPMG and IBM Alliance as a source of innovation. Our two organizations have been working together for more than a decade, driving value for our clients through the combined strengths, skills and experience of our people and technology. This includes everything from helping organizations make the most of their ERP implementations to developing joint solutions that capture the power of IBM’s software with the specialization of KPMG’s advisory services. Our alliance continues to bring innovative answers through the use of IBM’s Watson technology that enables our Audit, Tax and Advisory practices to harness the power of cognitive computing for our clients. In other words, the KPMG and IBM Alliance has a proven track record for innovation. And we’re ready to put it to work creating greater value for you.
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