Umang Paw, incoming Chief Technology Officer, PwC UK Joe Atkinson, Vice Chair - Chief Products & Technology Officer, PwC US |
|
The power of generative AI (GenAI) is already reshaping our work environments and daily lives, signifying a decisive tipping point. Recognising the immense potential of AI, we have strategically invested in this area for years.
Building upon this commitment, our UK and US firms have signed an agreement with OpenAI making PwC OpenAI’s first reseller for ChatGPT Enterprise and the largest user of the product. This is the latest advancement of our firm’s investment in AI that will expand our technology ecosystem, bring GenAI deeper into our enterprise, and enable us to scale AI capabilities across businesses to help drive accelerated impact for clients.
By being at the forefront of deploying these models into businesses, we are uniquely positioned to help clients leverage ChatGPT Enterprise for better and faster ways of working. By embracing ChatGPT Enterprise across our workforce, we will bring our first-hand experience of our AI transformation to clients, complementing our assurance, tax and advisory services with a broad array of business and industry solutions.
Through ChatGPT Enterprise, our UK and US workforces gain access to the most powerful version of ChatGPT, along with enterprise-grade security and privacy. We will also benefit from access to the latest tools, which will include OpenAI's recently announced ChatGPT-4o model and new capabilities focused on voice and image. For example, we are already developing custom GPTs to help our workforce with reviewing tax returns, proposal response generation, software lifecycle assistants, dashboard and report generation and more. These practical applications demonstrate how PwC will leverage GenAI solutions to help solve complex business problems.
We are actively engaged in GenAI with over 95% of UK and US consulting client accounts alongside discussing the use and implications of AI with many of our audit clients, emphasising the near universal demand across industries for the transformative power of this technology.
At a time when business leaders across industries demand outcomes and business impact – and not just potential – PwC’s expanded relationship with OpenAI provides a playbook for companies looking to scale their AI infrastructure, apps, and services. According to our 27th Annual Global CEO Survey, CEOs are growing more enthusiastic about deploying GenAI. They view 2024 as the year to reap returns on their investments, with 58% expecting it to improve the quality of their products and services. In fact, our recently launched AI Jobs Barometer found that sectors most exposed to AI are experiencing nearly 5X higher labor productivity growth than sectors less exposed to AI.
We have entered the 'prove it' phase, where we are actively demonstrating the capabilities and benefits of GenAI. We have already identified over 3,000 internal GenAI use cases, which is driving an end-to-end transformation within our own business and represents endless potential applications for clients across various industries, including financial services, healthcare, manufacturing, hospitality and more. We are taking a holistic approach and leveraging our deep industry experience to help transform our clients with AI, linking sources of value to common AI patterns to drive increased impact. This approach enables our clients to achieve faster outcomes with greater productivity, consistency, and efficiency.
This relationship with OpenAI strengthens our long-standing commitment to AI, building upon the UK and US firms’ initial three-year, $1B investment announced in April of 2023. This significant investment has paved the way for unprecedented advancements in upskilling our people and delivering better services for clients through an expanded technology ecosystem.
The adoption of GenAI tools within our organisation has enabled our own internal transformation. We have redefined our internal processes enabling us to provide even greater value to our clients with enhanced quality and velocity, all while maintaining a responsible approach to AI. These advanced tools also underpin our approach to delivering human-led and tech-powered solutions and to building trust and sustained outcomes in line with our global strategy, The New Equation.
For more information on our capabilities in generative AI, visit our UK website and US website.
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 149 countries with more than 370,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
© 2024 PwC. All rights reserved.
