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PricewaterhouseCoopers to Pour $1 Billion Into Generative AI

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In addition to embedding generative AI in its own operations, PwC hopes to advise other companies on how to use the technology.

Credit: Leon Neal/Getty Images

PricewaterhouseCoopers LLP plans to invest $1 billion in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services.

The accounting and consulting giant said the multiyear investment, announced Wednesday, includes funding to recruit more AI workers and train existing staff in AI capabilities, while targeting AI software makers for potential acquisitions.

Generative AI tools are designed to generate natural-language responses, images or computer code from user text prompts. 

For PwC, the goal isn't only to develop and embed generative AI into its own technology stack and client-services platforms, but also advising other companies on how best to use generative AI, while helping them build those tools, said Mohamed Kande, PwC's vice chair and co-leader of U.S. consulting solutions and global advisory leader.

From The Wall Street Journal
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