KPMG Japan Collaborates with 6Estates to Empower Businesses with Generative AI and AI OCR

KPMG AZSA LLC (Tokyo, Managing Partner: Hiroyuki Yamada), a member firm of KPMG Japan, and 6Estates Pte Ltd. (Singapore, CEO: Luan Huanbo, "6Estates"), has announced a partnership to support business transformation through Generative AI (Large Language Models) and AI-enabled OCR technologies.

Since the rise of ChatGPT, many companies have been investigating and testing Generative AI solutions for various tasks such as responding to customer inquiries and document creation. However, there are still many obstacles to companies effectively applying off-the-shelf solutions to their specific needs, yet it is still challenging for many companies to customize and/or configure solutions in-house.

Additionally, an increasing number of companies are working to apply AI OCR technology to their operations as the first step toward paperless operations and business transformation. However, there are often cases where document reading accuracy is not sufficient and therefore the desired operational efficiency is not achieved.

To solve these issues, it is important to bring together advanced capabilities in AI development, customization, and fine-tuning, with knowledge of a clients’ industry and business practices. Furthermore, it is important to develop an accurate assessment of a business’ current business operations and to create a clear transformation roadmap to chart the way to optimal results.

This partnership between AZSA and 6Estates brings these critical components together - combining AZSA’s knowledge of Japanese businesses, track record in business transformation and AI advisory capabilities with 6Estates’ Generative AI and AI-enabled OCR solutions.

As a result, clients can access a comprehensive and customized advisory solution to pursue AI-powered transformation. This partnership will also be supported by KPMG Japan’s broader network and expertise.

Examples of applications to accounting work:

• Financial Analysis
• Reconciliation of various documents and evidence and data
• Determination of accounting treatment
• Document creation
• Improving the efficiency of financial and accounting-related inquiries

Examples of application to financial institution operations:

• Streamlining loan-related procedures (e.g., automated reading of financial statements and automatic preparation of draft loan approval documents)
• Advanced fraud detection and fraud monitoring
• Improving the efficiency and sophistication of AML/CFT-related operations
• Improving the efficiency of insurance-related operations

Examples in other industries:

• Improving the efficiency of inquiries related to internal regulations and manuals
• Streamlining trade-related operations
• Digital transformation of logistics operations
• Creation of advertisements such as videos for e-commerce site platforms
• Improving the efficiency of manufacturing process operations for the manufacturing industry

Link to Original PR:

https://kpmg.com/jp/ja/home/media/press-releases/2024/06/6estates.html

https://www.nikkei.com/article/DGXZQOTG1175Z0R10C24A6000000/

About KPMG Japan

KPMG Japan represents a group of nine KPMG member firms providing Audit, Tax and Advisory services in Japan.

About KPMG AZSA LLC

KPMG AZSA LLC holds approximately 6,000 people in major cities in Japan, offering our clients a variety of professional services, such as Audit and Attestation service, Financial advisory and preparation for Initial Public Offerings. KPMG AZSA LLC is a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

It has a structure in place to provide professional services to meet industry-specific needs such as finance, information/communication/media, manufacturing and public sector.

KPMG AZSA LLC provides clients with a consistent set of professional services globally through a network in 143 countries and territories.

About 6Estates www.6estates.com

Founded in 2014, 6Estates is a Singapore-based Enterprise AI solution provider spun off from the National University of Singapore and Tsinghua University.

6Estates' flagship Intelligent Document Processing (IDP) platform provides fast and 100% accurate AI-powered document extraction and analysis, even for unstructured, template-free documents.

6Estates’ FAAS (Lender Workflow Automation) application on the IDP platform enables end-to-end workflow automation for financial services (from onboarding and fraud/risk analysis to credit assessment) to drive growth and efficiency for lending processes.

6Estates' FSAgent automates financial statement processing and analysis.

6Estates also provides a Model Solutions offering to empower enterprise customers with fully customized on-premises LLM capabilities.