Deloitte has unveiled its latest innovation, the PairD chatbot, marking a significant step in the company’s commitment to integrating artificial intelligence (AI) into its operations. This advanced chatbot will be deployed to 75,000 Deloitte staff members across Europe and the Middle East.
Unlike relying on third-party vendors, Deloitte developed PairD in-house through its AI Academy, an internal AI training program designed for clients. The chatbot’s versatile functionalities encompass answering emails, drafting written content, automating code for tasks, conducting research, and creating meeting agendas. PairD can also generate project plans, offer project management best practices, and suggest task prioritization, contributing to improved efficiency and productivity.
However, Deloitte has instructed its employees to perform hands-on due diligence and quality assurance to confirm the accuracy and completeness of PairD’s output before incorporating it into their work.
Deloitte’s decision to extend the chatbot’s implementation to its UK workforce aligns with the company’s broader investment strategy in AI and analytics. Finance leaders within the industry acknowledge the current trend of high labor costs in the UK, with a consensus that this period is likely to persist. However, 63% of CFOs express optimism in increasing investments in new technology, expecting a notable uptick in technology investments in the long term. Deloitte anticipates that this strategic investment will yield long-term benefits by reducing time constraints and costs.
The move towards AI adoption is not unique to Deloitte, as other major players in the finance sector, including EY, KPMG, and PricewaterhouseCoopers LLP (PwC), are actively exploring ways to leverage AI technologies. EY, for instance, employs AI in its auditing business to detect fraud, while KPMG empowers its staff with AI systems to handle more advanced tasks. PwC plans to invest $1 billion in generative AI technology over the next three years, collaborating with Microsoft Corp. and OpenAI to automate aspects of its tax, audit, and consulting services.
The increasing focus on AI signals a broader trend within the Big Four accounting firms, reflecting a strategic shift towards providing AI consultancy services to their clients.