PwC's Global Tax and Legal Services have announced a strategic alliance with OpenAI and Harvey. The three entities are set to create foundation models specifically for tax, legal, and human resources (HR) services.
A step beyond the previous exclusivity agreement PwC made with Harvey earlier this year, this strategic partnership utilises PwC's adoption of ChatGPT Enterprise within PwC UK.
The partnership combines OpenAI's cutting-edge foundation models, Harvey's know-how in developing domain-specific models, and PwC's artificial intelligence capabilities, value-based approach, and profound sector expertise.
Together, they aim to create advanced foundation models to aid in accelerating complex tasks and provide enhanced, personalised insights for tax, legal, and HR professionals.
The partnership is set to commence immediately, with the pioneering tax, legal, and HR/workforce Artificial Intelligence models expected to be unveiled in the coming months. This announcement comes on the heels of the global launch of Harvey, to PwC's tax, legal, and people business, which was announced in March 2023.
Global Chair at PwC, Bob Moritz, confirms the company’s dedication to assisting clients in building trust and attaining sustained outcomes using a combination of innovative technology and human insights. He says, "Our relationship with OpenAI and Harvey - as well as our other strategic relationships and capabilities - will enable us to develop and implement sophisticated AI solutions for critical business areas."
Moritz continues, "This way we can provide greater value and even deeper insights for our clients, helping them navigate a rapidly evolving business landscape."
OpenAI's Chief Operating Officer, Brad Lightcap, also shares his enthusiasm for the strategic alliance. “We're eager to build with PwC and Harvey, and to help develop advanced AI tools for tax, legal and HR professionals," he says.
"The alliance will lead to significant advancements in AI technology and offers OpenAI an opportunity to leverage PwC's and Harvey's expertise and learn from customers; their insights will be invaluable to making AI more beneficial for everyone."
PwC United Kingdom's Global Head of AI for Tax, Legal and People, Bivek Sharma asserts that generative AI will be a turning point for advisory services in the next generation.
He states, "Our partnership with OpenAI and Harvey strongly positions us to capitalise on the opportunity to provide the most advanced solutions and lead in the tax, legal and HR space. Combining our joint technical capabilities with our market insights will further differentiate what we do, and drive growth for our business and our clients."
Reiterating the prospects of the partnership, Winston Weinberg, Co-Founder and President at Harvey, states, "Our partnership with PwC and OpenAI represents a significant opportunity to bring the power of AI to the tax, legal and HR industry. We're looking forward to working together to create innovative solutions that will benefit PwC and its clients."