PwC partners will need to embrace AI or face being replaced.
The consultancy firm has made clear that it doesn’t see AI as a disruptive force and is set to amend its tax and consulting services into AI-powered automated tools, reducing the requirement for PwC US staff.
PwC US CEO Paul Griggs told the Financial Times that executives had no “opportunity to opt out” of AI and that anyone who did is “not going to be here that long.”
The company has already begun incorporating AI into its services. Earlier this week, it launched PwC One, an AI platform that allows clients to access six automated services. PwC said that there will be more automation in the future — a move that could mean the end of billing by the hour for staff time.
This new focus is supported by PwC’s annual survey of CEOs. The company found that 81 percent of CEOs were investing heavily in new technologies such as cloud and AI. However, 50 percent of those surveyed questioning whether they’re transforming their business fast enough and 29 said that saying technology constraints were inhibiting business performance.
There is already some evidence that AI projects are failing and there is a need for more effective adoption.
Griggs’ comments have made clear that PwC itself does not intend to be one of those companies left behind.
This article first appeared on Computerworld.