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PwC brings private generative AI tool to internal employees
Summary
Professional services firm PwC is rolling out ChatPwC, a conversational generative AI tool built with OpenAI’s technology and fine-tuned with relevant data, to its internal employees. The company is investing in AI as part of its $1 billion, 3-year AI roadmap and plans to roll out the tool globally. Other consulting firms are also investing in AI strategies, such as EY partnering with Microsoft and OpenAI, Deloitte tapping Google Cloud’s generative AI capabilities, and Accenture investing $3 billion in its AI and data practice.
Q&As
What is PwC's generative AI tool, ChatPwC?
ChatPwC is a conversational generative AI tool built with OpenAI's tech and fine-tuned with relevant data.
How is PwC leveraging OpenAI's technology to fine-tune its model?
PwC is leveraging OpenAI's technology to fine-tune its model with data around popular tax questions and regulations.
What is the goal for rolling out ChatPwC to all of PwC's 75,000 U.S. employees?
The goal for rolling out ChatPwC to all of PwC's 75,000 U.S. employees is to provide secure, private access to OpenAI's technology.
What kind of training is PwC providing to employees in order to use the tool effectively?
PwC is providing training to employees to understand how to ask the right questions to get the best answers and spot hallucinations or inaccuracies. They are also providing deeper training in data science for engineering, products and technology business roles.
What other consulting firms are pursuing similar AI strategies?
Other consulting firms pursuing similar AI strategies include EY, Deloitte and Accenture.
AI Comments
👍 PwC's investment in AI technology is admirable and demonstrates their commitment to staying ahead of the curve in generative AI. Their comprehensive approach to employee upskilling and financial responsibility is impressive.
👎 PwC's investment in generative AI technology could be seen as unnecessary, as other consulting firms are turning to external AI providers to avoid the initial development costs.
AI Discussion
Me: It's about PwC bringing private generative AI tool to their internal employees. It's part of a larger $1 billion, 3-year AI roadmap they laid out last April.
Friend: Wow, that's a big investment! What implications does this have?
Me: Well, it shows that AI technology is becoming more and more important to businesses, and that companies are willing to invest a lot of money in it. It also suggests that AI will be an essential part of how businesses operate in the future. Additionally, it implies that companies are starting to understand the importance of upskilling their employees with AI technology, which could have a big impact on the job market.
Action items
- Research other consulting firms and their AI strategies to gain a better understanding of the competitive landscape.
- Develop a plan to upskill employees in the use of generative AI tools.
- Explore ways to reduce the cost of supporting generative AI workloads.
Technical terms
- PwC
- PricewaterhouseCoopers, a professional services firm.
- Generative AI
- Artificial intelligence that can generate new content, such as text, images, or music, based on existing data.
- OpenAI
- A research laboratory focused on developing artificial general intelligence.
- ChatGPT
- A conversational AI model developed by OpenAI.
- Anthropic’s Claude
- A conversational AI model developed by Anthropic.
- Transformer Architecture
- A type of artificial neural network used in natural language processing.
- Upskilling
- The process of teaching employees new skills to help them become more productive and successful.
- Hallucinations
- False perceptions of reality.
- Microsoft
- A multinational technology company.
- Google Cloud
- A suite of cloud computing services offered by Google.
- Accenture
- A global professional services company.