PWC has become the latest business to throw its weight behind artificial intelligence, announcing plans to invest $1 billion in the technology in order to automate parts of its audit, tax and consulting services in its US business over the next three years.

One of the so-called “big four” accounting firms, it will work to develop generative AI that can make the company more efficient, with the Microsoft-backed OpenAI, the creator of ChatGPT.

Professional services companies are increasingly looking at how the technology can perform basic tasks for its employees, such as creating initial drafts of documents.

Read More