PwC announced a collaboration agreement with Amazon Web Services (AWS) to help drive innovation using the advancements in cloud and generative AI (GenAI) services.
The collaboration will now aim to bring together PwC’s industry insights with AWS’ GenAI services, including Amazon Bedrock, which offers a selection of foundation models and the capabilities to build GenAI applications.
The effort aims to accelerate the creation of GenAI-powered applications for customers across industries, including “highly regulated industries including pharmaceuticals, financial services and energy, to help transform their business.”
According to the PwC US 2024 Cloud and AI Business Survey, companies that are seeing increased productivity and creating revenue streams with GenAI are more than twice as likely to “realize these benefits through industry-specific solutions.”
PwC and AWS will build applications based on use cases leveraging the broad selection of foundation models from AI companies like Amazon—including Amazon Nova—a new “generation of foundation models (FMs) that have intelligence across a wide range of tasks, and industry-leading price performance.”
Amazon Bedrock comprises the new Automated Reasoning checks, the first and only GenAI safeguard that helps “prevent factual errors due to hallucinations, using logically accurate and verifiable reasoning.”
This gives customers confidence to deploy explainable GenAI solutions that can improve decision-making and support digital transformation.
PwC will integrate Amazon Bedrock Automated Reasoning checks within existing industry solutions, such as the Maestro Medical Legal Review solution, to “validate that LLM-generated content complies with regulations, and within call center solutions, helping customers more easily confirm that agents comply with respective company protocols.”
Matt Wood, Global CTIO at PwC said:
“This complements PwC’s deep industry experience and proven methodology to help us deliver innovative, secure GenAI applications customers trust.”
Kathrin Renz, vice president of Industries at AWS:
“This collaboration combines PwC’s deep industry expertise with Amazon Bedrock’s comprehensive security capabilities and automated reasoning safeguards to help customers in all verticals deploy generative AI applications with high confidence.”
This announcement builds on the existing GenAI-powered solutions that PwC and AWS have already built, “including the PwC AI-driven annotation solution.”
This solution “securely” digitizes a variety of file types, “extracting hundreds of business-critical terms, clauses and data attributes.”
Originally built to extract intellectual property and rights information from entertainment contracts for clients, including Amazon, the solution is used across a “variety of industries like financial services, insurance and healthcare.”