How AI is forcing the Big Four to rethink graduate training

The Big Four accounting firms – KPMG, Deloitte, EY, and PwC – have long played a pivotal role in shaping the careers of new graduates entering the financial services sector in the UK. As the primary entry point for many young professionals, these firms have recently been adapting their graduate programmes to account for the growing influence of artificial intelligence (AI) and the changing demands of the industry.

With a focus on preparing the next generation of workers for a future where AI will increasingly automate routine tasks, the firms are retraining their graduates to take on more complex, judgement-based responsibilities from the outset of their careers. One of the most significant changes brought about by AI is the shift towards earlier involvement in high-level client tasks.

Traditionally, first-year graduates were assigned low-level, manual tasks such as data entry and report preparation. However, with AI now capable of handling these duties, the Big Four firms have begun to assign more sophisticated responsibilities to their junior staff. Marc Burrows, chief people officer at KPMG UK, explained that graduates will now be involved in reviewing and exercising judgement much earlier in their careers.

The firms have also adjusted the timing of their training programmes to ensure that graduates have the necessary technical and regulatory knowledge before taking on these more complex tasks. In addition to technical skills, the firms recognize the importance of developing human skills such as critical thinking, resilience, adaptability, and relationship-building.

As the workforce becomes increasingly reliant on technology, these soft skills are becoming more critical for success. To cultivate these abilities, the firms have introduced a variety of training initiatives. For example, EY has incorporated debating sessions to hone critical thinking and problem-solving skills. PwC has introduced communication bootcamps to help junior staff develop basic professional skills like making phone calls.

KPMG, meanwhile, has placed a strong emphasis on coaching new graduates on basic workplace behaviours, given their lack of prior experience. While acknowledging that this new cohort of graduates is digitally savvy and aware of tools like ChatGPT, the firms emphasize the need for a balance of technical, technological, and human skills.

The Big Four's focus on these skills as they prepare their graduates for the future highlights the critical role they play in shaping the next generation of professionals in the financial services industry.