KPMG rolls out AI-powered tool for mitigating tariff risks
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Dive Brief:
KPMG has rolled out a new tool designed to help clients navigate 'an increasingly complex trade and tariff landscape,' the Big Four accounting and consulting firm said in a May 1 release.
The tool, which is powered by generative artificial intelligence and featured on KPMG's Digital Gateway platform, allows users to simulate potential tariff scenarios and visualize impacts on global supply chain operations, among other capabilities, according to a company description.
'Businesses across every industry are confronting significant challenges as they move quickly to adapt their trade strategies to tackle tariff disruption,' George Zaharatos, KPMG's global data and technology leader, said in an email. 'With our AI-powered platform, we're helping clients firm-wide at unprecedented speed, underscoring the imperative of acting swiftly in response to these impactful trade policies.'
Dive Insight:
Global consulting firms are ramping up their use of AI to boost internal capabilities while also enhancing the services they provide to enterprise clients.
Last month, KPMG announced the integration of AI agents into Clara, the firm's global smart audit platform. That move, the company says, will enable more than 95,000 auditors globally to automate routine tasks.
In March, competitor Deloitte unveiled a new suite of 'ready-to-deploy' AI agents designed to automate workflows across business functions, including financial management.
And PwC said in March that it was rolling out a platform designed to help enterprises with operating multi-agent business processes at scale.
KPMG's new tariff tool can help with complex analyses that play a role in mitigation strategies a CFO might choose to adopt, according to Andrew Siciliano, global and U.S. head of trade and customs at KPMG.
'For example, just because a product is shipped from China, doesn't mean the country of origin is China,' Siciliano said in an email. 'Determining country of origin is important as a tariff applies to an import based on the country that the goods originated from.'
More than 100 Fortune 500 and top private equity clients are already implementing the tool to prepare for and respond to ongoing trade policy changes, KPMG said in its press release.
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