Crowe LLP, a public accounting, consulting and technology firm in the U.S. with offices around the world, will collaborate with High Alpha Innovation, the venture builder that partners with corporations and universities to build advantaged startups, to develop and cultivate opportunities that leverage artificial intelligence (AI) to augment and innovate traditional accounting and consulting services.

The collaboration project will initially focus on identifying and building AI-powered solutions that will enhance and disrupt existing services offered to Crowe clients in the financial services and private equity sectors.

"AI will have a huge impact on both our clients and the professional services industry," said Crowe CEO Mark Baer.

"Over the course of our firm's 80-year history, we've proven that innovation and purpose-driven evolution are core parts of our DNA. Our legacy has been built on trust, and we've earned that trust by creating and finding a powerful harmony where disruptive technologies, like AI, and our traditional services intersect to reimagine and redefine how we deliver value to our clients."

Baer added, "this is all about enhancing client value and helping our clients be future-ready as new technologies disrupt their business models."

Throughout the intensive deep dive and market analysis program, Crowe and High Alpha Innovation will collaborate to identify and prioritize AI-enabled opportunities as well as potential risks.

Given its deep industry specialization, Crowe is uniquely positioned to decipher and filter the most impactful and viable applications related to accounting and consulting services to clients in financial services and private equity.

As a result of this collaboration, the firm will refine its product roadmap, including potential venture capital partners, start-up investments and alliances, and acceleration of time-to-market to get valuable tools deployed and adopted by clients.

"Joining forces with an innovator like High Alpha Innovation will allow us to quickly separate hype from real opportunities as we explore the practical applications in which we could deploy AI-enabled services in two industries where we have deep expertise and a significant footprint," said Brenda Torres, Crowe Chief Operating Officer.

"AI is a powerful tool that will impact everything we do, and we look forward to defining the ways in which we can disrupt and evolve our own business."

Elliott Parker, CEO of High Alpha Innovation, said, "We're excited to collaborate with Crowe, a firm that shares our enthusiasm and passion for fostering innovation. Like Crowe, we measure our results in terms of what we build and the opportunity we create. This project will focus on leveraging AI to build solutions that matter to Crowe's clients and employees."