AI is 'nearing industrialization': KPMG US CEO

At the World Economic Forum continues in Davos, Switzerland, KPMG US Chair & CEO Paul Knopp sat down with Yahoo Finance's Julie Hyman and Brian Sozzi. They discussed AI and its impact on businesses, with Knopp noting "the rate at which it's evolving, and the velocity of change is just phenomenal."
According to a new KPMG survey, 76% of millennials and Gen Z say AI already impacts their work lives, so they are less worried about job displacement, Knopp says, indicating "they understand the technology and they also know that it's the future." He advocates companies build "a trusted AI framework" focused on augmenting roles rather than replacing them.
Knopp sees AI assisting in tasks from risk identification to accounting work, automating "mundane, routine activity," so workers can upskill into higher judgement roles over time. The goal is leveraging AI's power to enhance business insights and worker productivity, not drive layoffs.
This interview is part of Yahoo Finance's exclusive coverage from the World Economic Forum in Davos, Switzerland, where our team will speak to top decision-makers as well as preeminent leaders in business, finance, and politics about the world’s most pressing issues and priorities for the coming year.
#youtube #stockmarket #yahoofinance
Watch this full episode of Yahoo Finance Live here.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance

[@lokesh303101]

AI is more-or-less part of Industry and Global Economy.