Rick Richardson's Views On Technology
  • Home
  • Blog

KPMG Teams with IBM’s Watson for Better Audit Insights

3/13/2016

0 Comments

 
Picture
KPMG and IBM announced plans to apply IBM’s Watson cognitive computing technology to KPMG’s professional service offerings, with a focus on audit services.

The agreement comes on the heels of several successful projects using cognitive technologies to enhance and deliver professional services.

Providing greater collaboration between humans and artificial intelligence (AI) systems, cognitive technology enables communication in natural language, analyzing massive amounts of data to quickly deliver insights. Watson, accessible through a variety of applications, integrates machine learning and other AI technologies in a scalable system.

“The cognitive era has arrived,” said KPMG chairman and CEO Lynne Doughtie. “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.”

As many of KPMG’s audit, tax, advisory and other professional services rely on judgment-driven processes, the data analysis and innovative learning capabilities of cognitive technology can transform how the firm deploys talent, capital and other resources.

“Auditing and similar knowledge services are increasingly challenged with tackling immense volumes of unstructured data,” stated John Kelly, senior vice president of cognitive solutions at IBM Research. “Cognitive technologies such as Watson can transform how this data is understood and how critical decisions are made. 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.”

KPMG will be working with Watson to develop select cognitive services to meet extensive audit-specific security, confidentiality and compliance requirements. For example, one of the Big Four firm’s current initiatives focuses on employing supervised cognitive capabilities to analyze large volumes of structured and unstructured data related to a company’s financial information as auditors “teach” the technology to fine-tune those assessments, giving those teams faster access to precise measurements used to analyze anomalies.

With cognitive technology’s ability to analyze a larger percentage of data, KPMG professionals can obtain enhanced insights into the client’s financial and business operations, in turn giving them the opportunity to focus on higher value activities like risk assessment.
​
“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,” stated Doughtie.
0 Comments



Leave a Reply.

    Author

    Rick Richardson, CPA, CITP, CGMA

    Rick is the editor of the weekly newsletter, Technology This Week. You can subscribe to it by visiting the website.

    Rick is also the Managing Partner of Richardson Media & Technologies, LLC. Prior to forming his current company, he had a 28-year career in technology with Ernst & Young, the last twelve years of which he served as National Director of Technology.

    Mr. Richardson has been named to the "Technology 100"- the annual honors list of the 100 key achievers in technology in America. He has also been honored by the American Institute of CPAs with two Lifetime Achievement awards and a Special Career Recognition Award for his contributions to the profession in the field of technology.

    In 2012, Rick was inducted into the Accounting Hall of Fame by CPA Practice Advisor Magazine. He has also been named to the 100 most influential individuals in the accounting profession in America by Accounting Today magazine.

    In 2017, Rick was inducted as a Marquis Who’s Who Lifetime Achiever, a registry of professionals who have excelled in their fields for many years and achieved greatness in their industry.

    He is a sought after speaker around the world, providing his annual forecast of future technology trends to thousands of business executives, professionals, community leaders, educators and students.

    Picture
    Picture
    Picture
    Picture
    Picture

    Archives

    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015

    Categories

    All
    Artificial Intelligence
    Audit
    Back Up
    Back-Up
    Blockchain
    Climate
    Cloud
    Collaboration
    Communication
    Coronavirus
    COVID 19
    COVID-19
    Digital Assistant
    Display
    Drone
    Edge Computing
    Education
    Enterprise
    Hardware
    Home Automation
    Internet Of Things
    Law
    Medicine
    Metaverse
    Mobile
    Mobile Payments
    Open Source
    Personalization
    Power
    Privacy
    Quantum Computing
    Remote Work
    Retail
    Robotics
    Security
    Software
    Taxes
    Transportation
    Wearables
    Wi Fi
    Wi-Fi

    RSS Feed

    View my profile on LinkedIn
Powered by Create your own unique website with customizable templates.