PwC, AWS Expand Strategic Alliance to Catalyze Generative-AI powered Transformation for Industry Customers

Las Vegas 3 Dec 2024 - As part of its presence at re:Invent, PwC today announced a strategic collaboration agreement with Amazon Web Services (AWS) to help drive industry innovation using the latest advancements in cloud and generative AI (GenAI) services. The collaboration will bring together PwC's deep industry insights with AWS' industry-leading GenAI services, including Amazon Bedrock, which offers a broad selection of foundation models and the latest enterprise-grade capabilities to build and scale 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 new revenue streams with GenAI are more than twice as likely to realize these benefits through industry-specific solutions. Together, PwC and AWS will build a series of industry-specific applications based on proven use cases leveraging the broad selection of proven foundation models from leading AI companies like Amazon-including Amazon Nova-a new generation of foundation models (FMs) that have state-of-the-art intelligence across a wide range of tasks, and industry-leading price performance. Amazon Bedrock also 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 more easily deploy powerful and explainable GenAI solutions that can enhance decision-making and accelerate digital transformation.

PwC will also 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.

"In a field where breakthroughs are happening at incredible speed, reasoning is one of the most important technical advances to help our joint customers succeed in GenAI," said Matt Wood, Global CTIO at PwC. "Our collaboration with AWS to harness the new Automated Reasoning checks within Amazon Bedrock equips customers across industries with industry-leading GenAI tools that can mitigate factual errors and show customers exactly how a conclusion was reached. This complements PwC's deep industry experience and proven methodology to help us deliver innovative, secure GenAI applications customers trust." Matt Wood,Global Commercial Technology & Innovation Officer at PwC, US.

"Model selection and security controls are fundamental for unlocking the transformative potential of generative AI in enterprise applications," said 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." Kathrin Renz,vice president of Industries at AWS.

This announcement builds on the success of existing GenAI-powered solutions that PwC and AWS have already built together, including the PwC AI-driven annotation solution. This solution rapidly and securely digitizes a variety of file types, extracting hundreds of business-critical terms, clauses and data attributes with ease. Originally built to extract intellectual property and rights information from entertainment contracts for clients, including Amazon, the solution is now used across a variety of industries like financial services, insurance and healthcare.

"In the beginning of 2024 we selected PwC to help with our AWS GenAI strategy," said Joe Davis, CIO at Continental Resources. "PwC offers the experience to build GenAI solutions tailored to the specific needs of our business, which complements the enterprise-grade solutions in Amazon Bedrock. Together, this helps us build the right applications and strategies to scale GenAI impact across our operations." Joe Davis,CIO at Continental Resources.

"We've chosen to work with AWS and PwC to help us accelerate the development of GenAI solutions to help us innovate," said Raj Nair, CIO of WellSense. "The domain experience from PwC, combined with the wide selection of models and the flexibility and security of AWS, aligns with our strategy and enables us to innovate faster with confidence." Raj Nair,CIO of WellSense.

Learn more about how PwC and AWS are helping to drive successful cloud modernization by visiting our website.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 149 countries with more than 370,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com/us.