PwC US boss tells staff to embrace AI

The US boss of accountancy giant PwC said that even senior staff who resist the use of AI are “not going to be here that long.”

Like many other consultancy firms, PwC faces major disruption from AI: Its traditional bill-by-the-hour model, which sees thousands of junior staff doing routine work, will likely change as the technology automates many tasks and clients potentially bring services in-house.

PwC is retraining staff in AI and launching AI tools; its Big Four rivals are doing likewise.

The financial industry more broadly faces changes. HSBC is mulling major AI-driven job cuts, Bloomberg reported, as is the Finnish bank Nordea, following similar moves by Goldman Sachs, ING, and the Commonwealth Bank of Australia.