BDO USA Launches Advanced AI Strategy to Enhance Productivity and Client Services Responsibly

BDO USA, one of the nation's leading accounting and advisory firms, recently announced the launch of its comprehensive artificial intelligence (AI) strategy aimed at revolutionizing both internal operations and client service delivery. The firm’s multi-phased approach, grounded in a commitment to responsible AI use, includes significant investments and the appointment of a new leadership position to drive these initiatives. CEO Wayne Berson emphasized the firm's DNA of embracing change and the transformative impact of AI on business practices. "AI is improving and transforming how we do business, as well as how we serve and enable our clients. It enhances our productivity while unlocking the inherent ingenuity of our people," he stated. BDO is dedicating over one billion dollars globally over five years to AI innovations. To spearhead these efforts, BDO USA appointed Mike Gerhard as the Chief Data and AI Officer in 2024. Gerhard, who oversees the firm’s Research and AI Development (RAID) team, is tasked with integrating AI into various aspects of the business. His approach balances agility and responsibility, ensuring that AI tools are practical and beneficial. BDO's AI strategy focuses on purpose-driven tools designed to enhance human capabilities and minimize errors. One such tool, Chat BDO, an internal secure generative AI platform, has been deployed since August 2023. Utilizing Microsoft’s Azure AI, Chat BDO has already saved over 600,000 hours for BDO professionals, benefiting all 12,000 users by improving productivity and freeing them to concentrate on more strategic tasks. Another notable addition is the Consultative Selling Account Insights tool, which uses multiple AI agents to analyze large volumes of web-accessible data. This tool significantly reduces the time required for manual data analysis, enabling professionals to provide more informed recommendations to clients and prospects. By streamlining data processing, BDO professionals can focus on higher-value activities that strengthen client relationships. The firm is also evaluating an AI risk assessment coach for audits. This tool would observe documentation and offer actionable feedback aligned with firm guidelines and regulatory standards, enhancing the quality and consistency of audits. Furthermore, BDO DocPro, set to launch later this year, will automate document management processes, saving time and allowing employees to engage in strategic tasks that benefit client growth. BDO's people-centered approach to AI is crucial for its success. The firm has invested in learning and development programs and robust communication strategies to ensure that its professionals are equipped and enthusiastic about adopting AI. Key elements of this strategy include comprehensive training, continuous support, and a focus on ethical AI use. Looking ahead, BDO USA is exploring several high-impact areas to further leverage AI: Generative AI Assistants: These will aid in drafting reports, analyzing data, and modeling scenarios, increasing efficiency and work quality. AI-Driven Personalization: AI will enable personalized customer experiences and advisory services, tailored to individual client needs, thereby driving revenue growth and enhancing client satisfaction. AI Business Automation: Integrating AI across business processes like billing, scheduling, and service desk modernization to streamline operations and reduce manual tasks. Multimodal AI: Developing systems that can process text, voice, podcast, and visual data, providing a more holistic understanding of client requirements and improving service delivery. These initiatives build on BDO's existing AI-enabled services and platforms, such as BDO Tax UserVerse and BDOADVANTAGE, which have already proven effective in supporting professionals and enhancing internal workflows. Gerhard expressed optimism about the future: "This latest phase in our AI strategy places us on the leading edge of a fundamental shift in how we deliver value to our clients and empower our professionals. By investing in dedicated teams, a proprietary AI approach, and custom solutions, we're setting a new standard for innovation in professional services and will continue embracing the next generation of solutions." Industry experts view BDO USA's AI strategy favorably, praising its multifaceted approach to innovation and its emphasis on responsible governance. They believe that BDO's investment and strategic planning will not only set it apart in the market but also contribute to the broader adoption of AI in the professional services sector. BDO USA is an ESOP (Employee Stock Ownership Plan) company, reflecting its commitment to a people-first culture. With a presence in over 160 countries through its global network, BDO offers assurance, tax, and advisory services to a diverse range of clients. Learn more about BDO’s advancements in AI and its mission to help people thrive every day at www.bdo.com.