KPMG Perspectives

WITH digital therapeutics set to become a $18 billion global opportunity by 2027, it’s time for the pharmaceutical industry to make the most of its potential.

IN the rapidly changing business world, where innovation reigns supreme, the traditional client-advisor relationship has undergone a significant transformation.

TRANSFORMATION is no longer a choice for businesses. It is a necessity. To keep up with rapid changes in their markets and with new ways of doing business, companies in every industry are transforming both internal and go-to-market functions. Transformations are significant change programs that require substantial resources, expertise and leadership commitment—and they are a fundamental part of the top leadership agenda.

ACCORDING to the 2023 “Women’s Leadership Summit (WLS) Report” by KPMG US, women executives perceive an exponential surge of stress in the workplace compared to pre-pandemic levels. The stress is attributed to increased workload and expectations tied to managing the mental health of their teams in addition to their own.

WHETHER it’s using infrastructure-as-a-service (IaaS) to shift legacy applications to the cloud, software-as-a-service (SaaS) to upgrade to more modern application alternatives or features such as containers and microservices to develop new cloud-native applications, enterprises from a wide range of industries are increasingly turning to public clouds. Data-center-hosted applications will likely soon be the exception, not the rule.

THE Covid-19 pandemic and the Russia-Ukraine war snarled global supply chains, causing shortages of goods and materials around the world. These disruptions highlight a longstanding problem that most manufacturers and retailers haven’t been able to resolve: They can’t see deep into their supply chains to understand where the risks are, and without that visibility, they are, in effect, “flying blind.”

TODAY’S market conditions are creating challenges for telecommunication industry players. Even though consumer revenue has been historically high, margins are being squeezed because of the massive infrastructure investment in 5G by telecommunication companies (telcos) to meet the spike in broadband demand during the Covid pandemic and the anticipated explosion in demand driven by various 5G-use cases. Competition has been heating up from both traditional and non-traditional players. Customer expectations and the market have been shifting. A looming recession and regulatory pressures have been creating uncertainty.

THE life insurance and annuity (L&A) industry can create significantly more value for both shareholders and consumers, but only if it can motivate millions of people to understand and fully embrace these products and their potential benefits. The industry is evolving and insurers will need to navigate a sea of change including demographic shifts, technological innovation, resource challenges and regulatory demands to engage with these new consumers and deliver a personalized experience tailored to their specific needs.

IN today’s fast-changing and uncertain world, companies should transition from traditional financial planning to more agile and integrated planning processes. Driver-based planning is one of the most powerful tools to kick-start this transformation journey, allowing leading companies to beat their competition through superior business insights.

IN the world today, and especially when it comes to tax, the blistering pace of change and extreme, unprecedented events make it seem impossible to predict what’s around the next corner. But in some respects, we can glimpse how global forces at work today—from the pandemic and inflation to the energy crisis and war—might be molding the tax landscape of tomorrow.

OVER the past two decades, Environmental, Social and Governance (ESG) reporting has increased in transparency and importance, with greater integration of ESG-related information into mainstream financial reporting.

THE past year has seen governments and business leaders take meaningful steps to reduce greenhouse gas emissions and meet sustainable development goals. In support of these actions, environmental, social and governance (ESG) funds and products have become a major part of the asset management landscape.

THE year is 2030. People and technology live in harmony. Trust is embedded into data. Interactions are cognitive. And government services are seamless, customer-centric and intuitive.

AS the commercial space industry evolves, few sectors remain untouched by its technological advances.

ASK a question on almost any topic and ChatGPT has a reasonable answer ready. You can ask it to write a song or give you a 5-part framework for a corporate digital strategy. On most general topics, like the one in our example, the output will likely be sensible. But on more specific questions, it might get a fair amount of detail wrong.

HOW is artificial intelligence (AI) changing the audit and the way auditors work?