PwC signs deal with OpenAI to become customer and reseller

PwC, the accounting giant, and OpenAI announced their deal. PwC will become the largest customer and first reseller of OpenAI’s enterprise product.
OpenAIPwC will roll out ChatGPT Enterprise, a version of the Microsoft-backed AI startup’s chatbot aimed at large companies.

PwC will provide ChatGPT Enterprise to its 75,000 U.S. employees and 26,000 UK employees, according to Wall Street Journal report.

AI-exposed sectors experience productivity surge as AI jobs climb and see up to 25 percent wage premium, the recent PwC 2024 Global AI Jobs Barometer said.

“We are actively engaged in genAI with over 95 percent of UK and US consulting client accounts, alongside discussing the use and implications of AI with many of our audit clients,” PwC said.

PwC said it has been developing custom GPTs to help its employees with tasks such as reviewing tax returns and dashboard and report generation.

The OpenAI agreement builds upon PwC’s previously announced plans to invest $1 billion in generative AI technology, Reuters news report said.

PwC 2024 Global AI Jobs Barometer said Postings for AI jobs are growing 3.5x faster than for all jobs. For every AI job posting in 2012, there are now seven job postings.

Jobs that require AI skills carry up to a 25 percent wage premium in some markets. The report said AI-driven spike in productivity could allow many nations to break out of persistent low productivity growth, generating economic development, higher wages, and enhanced living standards.

Sectors most exposed to AI – financial services, information technology, and professional services – are experiencing nearly five times higher labour productivity growth than sectors less exposed to AI, Carol StubbingsGlobal Markets and Tax & Legal Services (TLS) Leader, PwC UK, said.

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