KPMG is building a Silicon Valley-style incubator to help sidestep Big Four bureaucracy
KPMG is launching a new division called Client Technology & Innovation (CT&I) to operate as an internal incubator for AI and tech development. The move aims to bypass traditional corporate bureaucracy and adopt a faster, startup-like pace.
Why it matters
This reflects a broader trend of legacy professional services firms attempting to modernize their operations to compete with agile tech-focused startups.
KPMG wants to channel Silicon Valley in its new AI division. Bloomberg/Getty Images KPMG is forming a new division to bring Silicon Valley-like speed to some of its operations. The new Client Technology & Innovation (CT&I) group will serve as an incubator to boost innovation. KPMG is ready to "go head-to-head" with startups' disruptive spirit, the division's new boss told us. The Big Four consulting and accounting firms and Silicon Valley startups sit at opposite ends of the business spectrum. On one side are KPMG, Deloitte, PwC, and EY: century-old brands built on reputation, rigorous processes, and dependable, if unsexy, business services. On the other side are nimble and innovative startups that have made a virtue of moving fast and breaking things. In the age of AI, KPMG is trying to carve out more space for that Silicon Valley mentality.
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