Financial Highlights from the Recent Week You Should Know About:
- AI IN FINANCE: KPMG Negotiates Lower Audit Fees Due to AI Usage KPMG knew their own audit firm, Grant Thornton UK, used AI to perform audit work for KPMG.
Leveraging that knowledge, KPMG “negotiated” lower fees from Grant Thornton due to AI usage.
Pretty savvy, but now they’ve opened the door to have it turned on them too… - CRYPTOCURRENCY:Bitcoin Fell Off a Cliff, and Fell Again…
Bitcoin fell to a low of the US$65K range last week.
While many were trying to figure out the various triggers for such a drop, few were talking about the relationship of Bitcoin’s origins and the latest information in the Epstein files.
While Bitcoin experienced a slight bounce back to just above $70K, crypto bro’s are going to want to hold on tight as the ride is only going to get wilder. - AI IN FINANCE: Goldman Sachs Taps Anthropic’s AI to Automate Accounting & Compliance
Goldman Sachs has been working with Anthropic’s AI models to build AI agents to automate accounting and compliance functions.
Goldman Sachs’s Chief Information Officer, Marco Argenti, said the firm was surprised at how good the AI agents were at accounting and compliance tasks.
If you work in the back office, better start looking at non-back office jobs.
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