PwC Plans to Invest $1 Billion in Artificial Intelligence Technology

PwC US announced plans to invest $1 billion over the next three years to expand its artificial intelligence (AI) services and bring them to more clients. This investment will help clients reimagine their businesses and harness the power of productive AI. PwC's investment in AI is based on the firm's long-standing commitment. It will support the firm's goal of achieving reliable and sustainable results by strengthening its ability to deliver human-led and technology-enabled solutions, in line with its global strategy "The New Equation".

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The investment also includes an industry-leading collaboration with Microsoft to build scalable offerings using OpenAI's GPT-4/ChatGPT and Microsoft's Azure OpenAI Service. This will enable PwC to transform the way it works by harnessing the power of productive AI. PwC aims to increase stakeholder trust by developing new products and services that will help clients reinvent their businesses and achieve greater productivity and richer insights.

This investment is based on PwC's long-term commitment to AI. Last month, PwC's Global Tax and Legal Services (TLS) division announced an agreement with Harvey, backed by the OpenAI Startup Fund and based on OpenAI and Chat GPT technology. PwC's AI Services help clients deploy AI applications in an explainable, secure and robust way. These AI capabilities are recognized by Forrester, Gartner and IDC, which are considered industry leaders.