NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

PwC to become OpenAI's largest enterprise customer amid genAI boom

Published 05/29/2024, 05:00 AM
Updated 05/29/2024, 06:35 PM
© Reuters. PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. REUTERS/Lewis Jackson/ file photo

(Reuters) -PwC will become the largest customer and first reseller of OpenAI's enterprise product as part of a new deal, the accounting giant said on Wednesday, as businesses rush to adopt and capitalize on generative artificial intelligence.

PwC will roll out ChatGPT Enterprise, a version of the Microsoft-backed AI startup's chatbot aimed at large companies.

The firm will provide ChatGPT Enterprise to its 75,000 U.S. employees and 26,000 UK employees, according to the Wall Street Journal which first reported the agreement.

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

However, it did not disclose the financial terms of the deal or details on its plans to resell the AI product.

OpenAI did not immediately respond to a Reuters request for comment.

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, the company said.

OpenAI has been making efforts to add enterprise customers beyond Microsoft (NASDAQ:MSFT).

© Reuters. PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. REUTERS/Lewis Jackson/ file photo

Reuters reported in April that OpenAI CEO Sam Altman hosted hundreds of Fortune 500 company executives in San Francisco, New York and London, where he and other executives pitched AI services for corporate use, going head-to-head in some cases with Microsoft.

Wall Street Journal owner News Corp (NASDAQ:NWSA) had entered into a content agreement with OpenAI earlier in May.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.