IBM and KPMG have announced a partnership today, bringing IBM's Watson supercomputer to KPMG's professional services offerings.
With the help of Watson, KPMG hopes to transform the company's ability to deliver innovative business services.
“The cognitive era has arrived,” said Lynne Doughtie, KPMG LLP Chairman and CEO. “KPMG’s use of IBM Watson technology will help advance our team’s ability to analyze and act on the core financial and operational data so central to the health of organizations and the capital markets. In addition to the unprecedented possibilities for enhancing quality, the potential for cognitive and related technologies to help us pursue new business offerings is extraordinary.”
Watson will allow KPMG to analyse massive amounts of data with greater ease, delivering insights more quickly. It will also eliminate judgment-driven processes that usually happen in KPMG's audit, tax, advisory and other professional services.
“Auditing and similar knowledge services are increasingly challenged with tackling immense volumes of unstructured data. Cognitive technologies such as Watson can transform how this data is understood and how critical decisions are made,” said John Kelly, senior vice president, cognitive solutions and IBM Research. “By applying Watson, KPMG is taking a forward-looking approach to extending its expertise, helping professionals and clients gain new insights from critical enterprise information.”
The company said Watson will first be used to analyse large volumes of both structured and unstructured data related to the company's financial information. It will slowly learn how to fine-tune assesments over time, giving audit teams faster acceess to precise measurements, helping them
“Including cognitive technology with KPMG’s innovative capabilities, robust methodologies and processes, and 100-plus year history of excellence, is a real game changer that underscores our commitment to reinforcing confidence in the capital markets,” added Doughtie.