Deloitte claims that this platform has automated the process of reviewing and extracting all the relevant information from contracts, and reducing meticulous, laborious human efforts. Insight: AI is used to make informed and strategic decisions to provide targeted advice to a company to new or existing businesses.īased on our assessment, most of Deloitte’s own AI-related initiatives seem to fall into the categories of Process and Insight, as we’ll see below.Ī concrete example of an AI-enabled process is the document-review platform developed by Deloitte US innovation that went live in 2014.Automation can happen in two forms: by either reducing manpower directly or augmenting a worker’s ability to perform a task better/faster. Process: AI technology to streamline daily workflow and operations to automate and increase day-to-day productivity.Product: AI technology embedded into the product or service itself to provide all the associated end-customer benefits.A recent Deloitte article breaks down AI technologies into the following discreet categories: It is one of the biggest accounting brands under which lie several professionals and firms that offer auditing, strategy consulting and tax preparation related services.Īs with most large consulting firms, Deloitte vies for market share and press through thought leadership – and like the other Big Four – it has increasingly focused it’s white papers and research on the topic of artificial intelligence. We’ll explore the AI investments and initiatives of these companies one-by-one, starting with Deloitte.

What are the similarities and differences in the AI initiatives and strategy for each of the Big Four?.

Which services are most likely to be automated first?.

What are the different AI technologies the Big Four are implementing and how?.

In the article below we aim to answer the following three questions:

A few of the Big Four have invested heavily in innovation labs and claim to embrace a new era of automation and augmentation. The Big Four all seem to have artificial intelligence initiatives – and the goal of this article here is to compare and contrast their AI-related efforts (and purported results). This data is often beyond the understanding of a single person (or team of persons) and is often “noisy” and without a set format.

Many of the financial and consulting services offered by these firms – such as advising on investment decisions – involve finding patterns in very large sets of data. Deloitte, EY, PricewaterhouseCoopers (PwC) and KPMG are among the largest service providers in the accounting industry- collectively referred to as the Big Four.

Who does deloitte audit