Tech news: EY and Microsoft partner in global initiative

Major players in the accounting and tax technology space are making significant investments in artificial intelligence and digital assets to modernize core business functions. EY and Microsoft have announced a $1 billion partnership to accelerate AI adoption, while KPMG has created a new executive role to lead its transition toward technology-driven products. These advancements, along with new AI platforms and stablecoin payroll solutions, reflect a broader industry shift toward scalable, asset-based service models.

EY and Microsoft are deepening their strategic alliance through a $1 billion global initiative designed to accelerate enterprise AI transformation across several key sectors. The partnership integrates EY practitioners with Microsoft's forward-deployed engineers to help clients deploy AI solutions at scale within finance, tax, risk, and supply chain functions. This collaboration includes shared governance and aligned commercial models, focusing on co-developing industry-specific solutions for financial services, energy, and government sectors to optimize operations and drive sustained business value.

In a similar move toward technology-centric services, KPMG has appointed Paxton Cooper as its first chief product officer, a role dedicated to leading the development and commercialization of AI-enabled products. Cooper, who brings experience from Zendesk, will focus on evolving the firm’s strategy from traditional consulting to scalable, asset-based offerings that generate recurring value. Simultaneously, Paychex has launched its WISE AI Platform, which utilizes autonomous digital workers and predictive analytics to automate HR tasks like shift scheduling and timesheet approvals while providing guidance on regulatory compliance and employee retention.

The digital transformation extends to payroll and audit services, with Deel introducing stablecoin salary payouts for global payroll customers in the U.S. and Eurozone. Powered by BVNK and overseen by a new dedicated crypto division led by Thierry Edde, the feature allows for seamless fiat-to-stablecoin transactions without the need for foreign exchange conversion. Furthermore, SaaS provider Crunchafi is targeting audit practice growth through data extraction technology, hosting sessions to help firms scale operations without increasing headcount. These developments collectively underscore a rapid shift toward integrating advanced automation and blockchain technology into the accounting and tax tech ecosystem.