BREAKING NEWS: PwC Teams Up with OpenAI

Hey Visionaries,

Buckle up, because PwC just made a bold move that’s going to shake up the accounting and consulting world.

The 'Big Four' titan has struck a landmark deal with OpenAI to roll out ChatGPT Enterprise globally.

This is part of PwC's whopping $1 billion investment in AI.

Picture this: over 100,000 PwC staff in the US and UK now equipped with the most advanced AI tools to supercharge their work—from analyzing tax returns to drafting winning proposals.

But here’s where it gets really interesting...

PwC isn’t just using these tools internally.

NOPE, they will resell these AI services to their 178,707+ clients around the globe.

That’s right, they’re turning AI into a revenue stream.

Imagine customized AI solutions fine-tuned for auditing, taxation, and consulting.

This is PwC not just adapting to the future, but shaping it.

Why PwC? Why Now?

• Deep AI Integration: PwC has already identified over 3,000 AI use cases within their own operations. They’re not dabbling—they’re leading.
• Strategic Consultants: PwC’s consultants will guide businesses from AI ideation to execution, ensuring a seamless and impactful integration.
• Comprehensive Approach: With vast industry experience, PwC provides a holistic AI implementation that addresses both technical and strategic needs.
• Cutting-Edge Tech: OpenAI’s enterprise-grade language model is the most advanced tool available, promising unparalleled performance and security.

What’s ChatGPT Enterprise?

Launched in 2023, ChatGPT Enterprise is tailored for large-scale business applications.

It boasts enterprise-grade security, robust data privacy, unlimited access to GPT-4, extended context windows, and extensive customization options.

OpenAI claims 600,000+ enterprise clients, including a staggering 93% of the Fortune 500.

Other competitors?

Think Cohere, Anthropic’s Scale AI, Microsoft Azure’s Copilot, and Amazon Bedrock.

Leveraging AI in Consulting

AI isn’t just for tech geeks and data scientists.

Consultants across all verticals and services can harness AI to elevate their daily operations.

Here’s how:

1. Financial Services: AI can analyze massive datasets to detect fraud, predict market trends, and optimize investment strategies. Imagine an AI that sifts through financial reports and identifies potential red flags in real-time.
2. Healthcare: AI assists in diagnosing diseases, personalizing patient care, and managing hospital operations. Consultants can use AI to analyze patient data and recommend efficiency improvements in treatment protocols.
3. Retail: AI helps in customer segmentation, demand forecasting, and supply chain optimization. A consultant can leverage AI to predict stock shortages and optimize inventory levels, ensuring the right products are always available.

Real-World Examples

• PwC's AI Use Case Identification: PwC has already pinpointed over 3,000 ways to use AI in their operations, from automating mundane tasks to enhancing complex data analysis.
• AI-Powered Auditing: AI algorithms can scan through financial statements and identify discrepancies far quicker and more accurately than a human, freeing up auditors to focus on higher-level analysis.
• Custom AI Solutions for Clients: PwC is creating tailored AI solutions based on OpenAI models, enhancing their auditing, taxation, and consulting services to meet specific client needs.

So, is it Worth It?

PwC’s annual investment in ChatGPT Enterprise runs into the tens of millions.

Could they have built their own AI with open-source models?

Sure, but partnering with OpenAI positions PwC at the forefront of AI innovation.

The real kicker?

The potential revenue from reselling and upselling custom AI services.

This could not only offset the investment but also generate substantial profit.

PwC’s strategic move is mirrored by rivals like Accenture, who recently teamed up with Cohere.

“We have our own customer success team that supports customers in the deployment of their GenAI solutions, but we have limited capacity.

That’s where the partner ecosystem comes into play.”

— Richard Hasslacher, Head of Alliances & Partnerships, OpenAI.

The Bigger Picture

This isn’t just a business deal—it’s a glimpse into the future of work.

PwC is setting a precedent for how large organizations can leverage AI not just to optimize their operations but to drive new business models.

This move is a signal that AI isn’t just a tool; it’s a strategic asset.

Stay sharp, stay ahead.

See you at the top,

Laura Egocheaga