KPMG introduces Ignite, a portfolio of AI tools

During its Global Data and Analytics summit in Boston this week, Big Four firm KPMG launched a portfolio of artificial intelligence (AI) capabilities called Ignite. The AI tools are designed to enhance the decisions and processes that KPMG clients use to go digital.

“Artificial intelligence, combined with advanced data and analytics and robotic process automation (RPA) are enabling a new generation of intelligent automation that is changing the nature of work and quality of services,” said Cliff Justice, principal and leader of intelligent automation, KPMG in the U.S., in a statement. “KPMG Ignite will offer clients and our KPMG professionals some of the most advanced suite of AI tools, solution capabilities and accelerators, designed to move quickly and capture the most value in this era of exponential technology change.”

Earlier this year, the firm founded KPMG Ignition, a workspace in Midtown Manhattan that brings together its Innovation Lab, Insights Center and Technology Solutions. The space now has a dedicated Intelligent Automation Lab that uses certain tools and approaches to build AI solutions.

KPMG has built accelerators for Ignite in the form of patterns and tools to enable rapid AI solution development and delivery. These accelerators work by integrating with existing IT infrastructure without the need for developing new methodologies and templates.

KPMG Ignite also features a set of frameworks and methods that describe how KPMG professionals approach client-specific AI solutions and make them repeatable. The initiative will also provide ongoing testing, prototype development and innovation on emerging AI tools and approaches.

“The promise of AI requires more than just technology. Its power must be grounded on a foundation of trusted analytics, access to unique and reliable data, and deep-rooted domain knowledge in order to drive new insights and strategies,” added Brad Fisher, KPMG’s U.S. leader of data and analytics. “KPMG Ignite fills a critical void in the marketplace for businesses that aim to meet the competitive challenges of the future, particularly those who wish to expand and serve customers more efficiently.”

To learn more about KPMG Ignite, click here.

Source: Accounting Today

Excel is about to get smarter

Microsoft Office 2019, set for release by the end of the year, will feature a more powerful Excel that will use artificial intelligence to perform more complex data analysis.

The souped up Excel will be able to understand more about a user’s inputs, and pull information from the internet as needed, TechCrunch reported. For example, users can tag a list as a certain category — such as “company names” — and Excel can get more information about the companies named in that list from Microsoft’s Bing search engine, which will be connected with the spreadsheet. Excel will also be able to discern what category a list might fall under by reading the content of the list.

Also new will be a built-in tool that can create visual representations of the data within an Excel spreadsheet. Dubbed Insights, it is modeled after a similar tool in Microsoft’s Power BI suite. The charts and graphs are manipulable by the user as well.

“Office 2019 will add new user and IT capabilities for customers who aren’t yet ready for the cloud,” said Jared Spataro, Microsoft’s general manager for Office, in a blog post. “For example, new and improved inking features—like pressure sensitivity, tilt effects, and ink replay—will allow you to work more naturally. New formulas and charts will make data analysis for Excel more powerful ... Cloud-powered innovation is a major theme at Ignite this week. But we recognize that moving to the cloud is a journey with many considerations along the way. Office 2019 will be a valuable upgrade for customers who feel that they need to keep some or all of their apps and servers on-premises, and we look forward to sharing more details about the release in the coming months."

Source: Accounting Today