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PricewaterhouseCoopers to invest $1 billion in AI offerings, expands partnership with Microsoft

Microsoft Generative AI

Today, PricewaterhouseCoopers (PwC) US announced plans to invest $1B over the next three years to expand and scale its AI offerings through the power of generative AI. As part of the investment, PwC is announcing expanded partnership with Microsoft. PwC will make use of Microsoft’s Azure OpenAI Service and OpenAI’s GPT-4/ChatGPT to help support clients in reinventing their businesses and delivering better outcomes.

PwC also mentioned that it has already started implementing Azure OpenAI Service for clients in various industries to save time and costs while helping accelerate revenue.

“We are at a tipping point in business and society where AI will revolutionize how we work, live and interact at scale,” says Mohamed Kande, Vice Chair, US Consulting Solutions Co-Leader and Global Advisory Leader, PwC. “PwC has long been a pioneer in responsible AI and this latest investment and collaboration with Microsoft will help our people and clients realize the augmented productivity and new growth opportunities associated with generative AI, doing so in a responsible way while driving the right results.”

“We are excited that PwC will utilize Azure OpenAI Service to transform the way they work, and to deliver innovative customer solutions that take advantage of the world’s most advanced AI models, backed by Azure’s trusted enterprise-grade capabilities and AI-optimized infrastructure,” said Eric Boyd, Corporate Vice President, AI Platform, Microsoft. “Our collaboration with PwC and OpenAI will be a game-changer that opens the floodgates for businesses to experience generative AI applications in a safe and secure manner.”

Industry-leading relationship with Microsoft to position the firm and its clients to harness generative AI to build trust and drive sustained outcomes

During the earnings call for the quarter ended March 31, 2023, Microsoft yesterday announced that it now has more than 2,500 Azure OpenAI Service customers, up 10X quarter-over-quarter.

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