All articles tagged with #deloitte
Originally Published 21 days ago — by Business Insider
Deloitte's review revealed that Amazon and Whole Foods face challenges in integrating their Microsoft tools, leading to inefficiencies. A phased plan is proposed to migrate Whole Foods' staff to Amazon's backend, aiming to improve collaboration, security, and cost savings, amidst ongoing efforts to better align the two companies' operations.
Originally Published 3 months ago — by Fortune
Deloitte's Australian arm issued a $290,000 report containing AI-generated errors, including fabricated references and quotes, which was later corrected after being flagged by a researcher. The firm disclosed the use of generative AI in the report and agreed to refund part of the payment, amid criticism over misuse of AI technology.
Originally Published 3 months ago — by Hacker News
Deloitte is refunding the Australian government after using AI to produce a flawed $440k report on a problematic IT system, raising concerns about the ethical and practical implications of AI in consulting and government projects.
Originally Published 3 months ago — by ABC News - Breaking News, Latest News and Videos
Deloitte Australia will partially refund the Australian government after a report containing AI-generated errors, including fabricated quotes and nonexistent references, was published. The report, which used AI language technology, was revised to remove false information, and Deloitte agreed to repay the final installment of the contract. The incident highlights concerns over AI hallucinations and the misuse of generative AI in official reports.
Originally Published 3 months ago — by TechCrunch
Deloitte announced a major AI deal with Anthropic and plans to deploy their chatbot Claude across its global workforce, signaling a strong commitment to AI despite recent issues such as issuing refunds for a government report containing AI errors and other companies facing similar challenges with AI accuracy.
Originally Published 3 months ago — by CNBC
Deloitte has announced its largest-ever enterprise deployment of Anthropic's AI assistant Claude, integrating it across its global workforce of over 470,000 employees to enhance productivity and client service, marking a significant expansion of Anthropic's international presence and AI offerings.
Originally Published 1 year ago — by Business Insider
Accenture has revised its revenue forecast for 2024 downwards due to clients cutting back on spending, with consulting revenue for the second fiscal quarter falling about 3% compared to 2023. Major consulting firms are facing waning demand from clients, leading to reorganizations and delayed start dates for new hires. However, the promise of AI is providing a bright spot, with firms seeing significant revenue related to generative AI and a growing demand for understanding and implementing the new technology.
Originally Published 1 year ago — by Variety
According to Deloitte's 18th annual Digital Media Trends report, U.S. households spend an average of $61 per month on four streaming video services, up 27% from last year. The survey indicates that consumers are questioning the value of their subscriptions, with 36% feeling the content is not worth the price. Additionally, 48% would consider canceling their favorite service if prices increased by $5 per month. The report also highlights the desire for personalized experiences and easier content discovery, as well as the influence of social media on entertainment consumption and the importance of diversity in creative teams.
Originally Published 2 years ago — by Forbes
Deloitte, the auditing firm, certified that Nigerian company Tingo Group had $462 million in the bank, but the SEC found it was only $50, leading to charges of "massive fraud." This case highlights the recurring issue of auditors failing to detect fraud, with only 4% of frauds being uncovered by auditors. The setup where auditors are paid by the companies they examine can lead to playing it safe and avoiding hard-hitting questions. The discrepancy in Tingo's case raises questions about Deloitte's oversight, especially as the auditing was done by Deloitte's Israeli branch, not in Nigeria where Tingo operated. This failure could have repercussions for Deloitte's other client companies in the stock market.
Originally Published 2 years ago — by Business Insider
Deloitte is using AI technology to assess the skills of its current employees and potentially shift them into more promising areas of the business, in an effort to avoid mass layoffs and balance new hiring growth. The firm is betting that AI will not only help retain employees but also increase productivity and profitability. Deloitte's move comes after a surge in new hires, while revenue growth has not kept pace. Other consulting firms are also grappling with how to manage their workforce amid an uncertain economy.
Originally Published 2 years ago — by Reuters India
Shares of Adani Group companies dropped between 3% and 6% after Deloitte resigned as the auditor of Adani Ports, the first such move since the release of the Hindenburg report in January. Deloitte quit due to concerns over related party transactions that the company did not wish to investigate independently. The report by Hindenburg alleged improper use of tax havens and other business dealings, leading to significant market value losses and regulatory investigations. Adani Ports named MSKA & Associates as its new auditor.
Originally Published 2 years ago — by IndiaTimes
Deloitte Haskins & Sells has resigned as the statutory auditor of Adani Ports & Special Economic Zone amid concerns over certain transactions, including one with an EPC contractor named in the Hindenburg report. Deloitte issued a "qualified opinion" on Adani Ports' FY23 results due to the company's refusal to conduct an independent external examination. Adani Ports has replaced Deloitte with MSKA & Associates as its new auditor. The resignation has raised fresh scrutiny of the accounting practices at the Adani Group, which had previously replaced Deloitte as the auditor of its UK subsidiaries.
Originally Published 2 years ago — by Reuters India
Deloitte has decided to resign as the auditor of Adani Ports due to concerns over certain transactions flagged in a report by Hindenburg. Deloitte had previously pointed out these transactions in its report and gave a qualified opinion. The move raises questions about the financial management of the Adani Group, which has faced allegations of improper use of tax havens and convoluted related party transactions. Deloitte had asked Adani Ports to conduct an independent inquiry into the flagged transactions, but the company did not agree. Adani Group's stocks lost significant market value following the report but have since recovered.
Originally Published 2 years ago — by Fox Business
Back-to-school shopping is expected to decrease for the first time in nine years, with overall spending projected to shrink to $31.2 billion compared to $34.4 billion in 2022. The decline is attributed to persistent inflation, causing Americans to prioritize essential purchases and cut back on non-essential items. Parents and guardians are expected to spend an average of $597, 10% less than last year. Spending on school supplies is expected to increase by 20%, while spending on apparel and technology is set to fall by 14% and 13% respectively. Shoppers are relying on sales to offset increased costs, with nearly 60% of back-to-school purchases planned to be completed by the end of July.
Originally Published 2 years ago — by TechCrunch
Board members from Prosus and Sequoia have resigned from the board of Byju's, India's most valuable startup, following the departure of its auditor Deloitte, which cited the edtech giant's failure to hand over financial results for the year ended March 2022. Byju's is also facing an investigation by India's corporate affairs ministry over "various corporate governance lapses." The board now consists of just three individuals, including Byju's co-founders.