KPMG releases its custom ChatGPT tool to clients

KPMG, one of the big four consulting firms, has released its custom ChatGPT tool called KymChat to its clients. Developed by Microsoft, KymChat was initially designed as a search tool to find experts within the business but has expanded to various use cases such as writing proposals, drafting scripts, and answering questions about internal policies. The large-language model has been trained using documents from KPMG’s internal network and the public internet. KymChat provides answers with citations to indicate the sources of information. KPMG’s chief digital officer, John Munnelly, highlights the tool’s ability to enhance efficiency by reducing time spent on tasks like reading long policy documents. The cautious approach to AI adoption in Australian businesses is also noted, with KymChat seen as a tool that allows organizations to explore AI’s benefits in a safer manner. The article also mentions that PwC, another big four consulting firm, has introduced a chatbot service for its lawyers through a partnership with an AI start-up called Harvey, enabling faster work processes and legal services across multiple countries.