Industry news

IBM and Microsoft are expanding their AI collaboration programme , including their procurement and source to pay solution

The partnership will help their joint clients accelerate the deployment of generative AI, and also provide a new offering of expertise and technology to innovate their business processes and also scale generative AI effectively.

It is part of a series of offerings that IBM and Microsoft have been collaborating around AI, leveraging IBM Consulting skills and Azure OpenAI Service with the target of developing potential solutions and tackle specific use cases.

Read the full article on SupplyChain here.

The big SITS related announcement was PwC’s willingness to invest more than £100m in a range of emerging tech partnerships that included collaborations with Harvey (see PwC announces partnership with generative AI Harvey), Microsoft and Icertis, and ContractPodAI, alongside generative AI skills training for all staff. Cloud technologies were also cited as helping improve Audit delivery.

Professional services firms, particularly partnerships, have been criticised for being slow to invest in emerging tech, AI and automation, with a reluctance to see profits drop in the short term a significant barrier to adoption. 

Read the full article on TechMarketView here.

The more perspectives and lived experiences that are reflected within the AI and data science workforce, the better-equipped organisations will be to actively spot even the most implicit biases that could result in unfair, reputationally damaging outcomes.

Yet the World Economic Forum has found that 78% of the global AI workforce are male – and gender diversity is only one part of a multifaceted picture.

Human oversight and inclusion in the development and deployment of AI technologies is not a nice to have – it is essential.

Read the full article on BusinessCloud here.

Teleperformance, a global leader in digital business services, announced today that it launched a new state-of-the-art global shared services center in Hyderabad, India.

The new center in Hyderabad currently has 500 employees dedicated to Teleperformance's Global Business Services practice, which centralizes and provides critical support leveraging data analytics and next-generation AI technologies to administer back-office services including workforce management; technology

Read the full article on PR Newswire here.

At least one in four top commercial law firms expect generative artificial intelligence to replace jobs within their firm within the next five years.

In the latest survey, Reed Smith, Hogan Lovells, Stephenson Harwood, and Charles Russell Speechlys all said they expected internal jobs to be replaced by the technology.

Read the full article on Law.com here.

Tech buying decisions are complex and finely balanced. Commercial considerations of efficiency, productivity and the ultimate impact on bottom line must be balanced with vendor and partner relationships, integration with legacy infrastructure and security.

However, many technology departments and organisations now include sustainability considerations (and often wider ESG criteria) when issuing tenders and also at the earlier stages of building strategy.

Read the full article on Computing here.

Companies have committed to being more diverse, inclusive, and equitable, but many struggle to make significant progress in these areas. Here’s how they can meet DEI ambitions—now and in the longer term.

Five steps are critical for setting and achieving successful DEI strategies.

1. Aspire. Align on the vision.
2. Assess. Build the fact base.
3. Architect. Develop the plan.
4. Act. Mobilize capabilities and resources.
5. Advance. Measure progress to scale and sustain momentum.

Read the full article on McKinsey & Co here.

Global law firm DLA Piper has appointed a projects and infrastructure partner from big four accounting firm PwC, who will be based in its Melbourne office.

Luke Westmore has joined DLA Piper, having come over from PwC Legal

Mr Westmore stated: “The firm offered a clear strategy  which focused on their sector strengths and commitment to ESG, which aligned with my outlook and values.”

Read more on Lawyers Weekly here.

KPMG employees donated their time to over 475 nonprofits for the firm's second Community Impact Day, an annual volunteer day of community service.

On August 1, over 21,000 people volunteered with a wide range of organizations including Boys and Girls Scouts, American Heart, Junior Achievement, and Big Brothers Big Sisters of America, which already collaborate with KPMG all year long. According to Jennifer Flynn Dear, Community Impact Day managing director, it's all about finding what issues are important to employees and putting their skills in the service of others.

The days of tax being just a private compliance issue for tax teams are long gone; tax transparency is now a core pillar of sustainability, say Jenny Wong of KPMG Australia and Loek Helderman of KPMG International.

One of the key topics featured at the summit was navigating ESG and the tax environment. KPMG professionals discussed how tax transparency is now a core pillar of sustainability, leading to a movement of new global standards.

Read more on International Tax Review here.