KPMG acquires AI startup Recommender Labs

The Indian arm of the professional service giant KPMG has now acquired Recommender Labs Pvt Ltd that provides decision making services driven by the AI.

KPMG India revealed in a statement that it had acquired Recommender Labs Trademark brand, software products and its other intellectual property rights.

Recommender Labs Managing Director and four of its employees will now be going to join the KPMG India division. KPMG revealed the deal was aimed at integrating Recommender Labs offering to boost its AI capabilities.

“The acqui-hire will help us unlock the value of AI for our spectrum of clients and their varied business needs that we address on a daily basis,” said Akhilesh Tuleja, partner and head of a risk consulting at KPMG India.

KPMG also has plans to build a centre of excellence which will having its specialization in decision science and AI driven solutions.

“KPMG’s acquisition of RLPL is aptly timed as AI has started advancing positive push from the government to utilise technological advancements in order to reduce financial losses and increase output efficiency,” said Sharma.

Source: KPMG India