KPMG is building a Silicon Valley-style incubator to help sidestep Big Four bureaucracy
The Big Four firm wants to build a "Silicon Valley incubator within the walls of KPMG," Todd Lohr, its AI chief, said.
KPMG is establishing a new Client Technology & Innovation (CT&I) division to mirror the agility and innovation of Silicon Valley startups. The division, with several hundred staff members, will operate independently from KPMG's main audit, tax, and advisory units, aiming to accelerate innovation both for client products and within the firm itself.
KPMG's vice chair and head of CT&I, Todd Lohr, likened the new group to a Silicon Valley incubator within the firm. The CT&I will bring together capabilities such as innovation, data and AI, product development, and strategic partnerships with tech leaders like OpenAI and Anthropic, ultimately enabling KPMG to move faster in an era where speed is paramount.
The launch of AI tools like ChatGPT prompted KPMG's leadership to recognize the need for faster operations, leading to the creation of the CT&I division.
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