KPMG Cyprus expands use of AI and digital tools — Cyprus Mail
In Cyprus, KPMG Cyprus is deepening its use of artificial intelligence, digital tools and innovation in its work. As Cyprus Mail reports, the company links this approach to businesses’ more complex regulatory, technological and sustainability-related needs.
KPMG has operated in Cyprus for more than seven decades and employs more than 750 professionals in six cities. The company provides audit, tax, legal and consulting services and also draws on the expertise of the international KPMG network.
Audit automation
KPMG noted that not only the range of services is changing, but also the way they are delivered. Technologies are used to automate part of the professional work and analyse larger volumes of information so that employees can devote more time to tasks requiring professional judgement, risk assessment and data interpretation.
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One such tool is the KPMG Clara digital audit platform, which combines data analytics, automation and artificial intelligence. According to KPMG, the platform is intended to improve audit efficiency and enable professionals to focus more on analysis and professional judgement rather than repetitive processes.
Generative AI and ESG
KPMG’s global collaboration with Anthropic and the KPMG Digital Gateway Powered by Claude platform are aimed at expanding the use of generative AI in tax and legal services, as well as in work involving private-market investments. At the same time, the company stresses the importance of technology governance, security, transparency and human oversight. Its Trusted AI approach provides for the implementation of AI with appropriate safeguards.
Through the KPMG Startup Innovation Lab, the company also works with startups, helping them with networking, business development and access to investors. In the area of sustainability, KPMG supports companies seeking to increase transparency, respond to new ESG requirements and more broadly incorporate sustainability issues into their operations.
