Deloitte Announces Strategic Co-Innovation Initiative with Google Cloud to Help Consumer Businesses Transform with Generative AI

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Aug 16, 2023, 06:30 ET

Deloitte's ConvergeCONSUMER™ data, analytics and AI platform is now optimized for Google Cloud, accelerating enterprise value with Vertex AI, Cortex Framework, BigQuery and more

NEW YORK, Aug. 16, 2023 /PRNewswire/ -- Deloitte today announced a new co-innovation initiative with Google Cloud that helps consumer businesses transform how they operate to create more relevant, engaging and effective customer experiences. Deloitte's ConvergeCONSUMER portfolio of solutions is now available on Google Cloud and integrates Google Cloud's leading data analytics, artificial intelligence (AI) and Generative AI (Gen AI) capabilities. The solutions enable consumer organizations to rapidly deploy AI-powered tools that help them more accurately forecast demand, personalize marketing campaigns and optimize product pricing, which can increase brand loyalty and extend competitive advantage.

To improve business performance, companies have traditionally relied on in-house teams of data scientists and engineers to develop and maintain bespoke solutions, which often results in significant expenses and lengthy development timelines. ConvergeCONSUMER revolutionizes this approach by providing organizations with turnkey solutions that can unlock a new layer of insights about their businesses and the consumer audiences they target. For example, customers can now apply Google Cloud's AI and data analytics capabilities to their business data with an extensive array of external data points from ConvergeCONSUMER, such as insights about specific customer segments or weather events with logistical implications.

ConvergeCONSUMER by Deloitte and Google Cloud
ConvergeCONSUMER ingests a wide array of consumer signals to better predict customer behavior, improve demand forecasting, optimize supply chains, streamline costs and tailor consumer experiences. With ConvergeCONSUMER now optimized for Google Cloud's infrastructure and products, enterprises can:

Accelerate decision-making with Google Cloud Vertex AI: ConvergeCONSUMER combines Google Cloud's Vertex AI platform with Deloitte's comprehensive, proprietary consumer and market data and algorithms. Customers can more easily build and train machine learning models with the ability to choose pre-trained or custom AI models that accelerate decision-making and generate value from improved business analysis.
Quickly develop Gen AI experiences like chatbots and search engines: ConvergeCONSUMER integrates Google Cloud's Generative AI App Builder and Generative AI Studio to help businesses efficiently build applications that enable customers and employees to quickly get relevant information. For instance, an online retailer could create a chatbot to expedite customer inquiries about product availability and returns, freeing up time for agents to manage more complex inquiries.
Improve business insights with Google Cloud Cortex Framework: ConvergeCONSUMER leverages the Cortex Framework to help businesses enhance data and generate powerful insights about how they operate, plan and forecast. Cortex provides packaged solutions content and reference architectures that businesses can easily adapt to integrate across a variety of public, private and community data sources, including sales and marketing, finance, supply chain and more. For example, with ConvergeCONSUMER and Cortex, organizations can rapidly deploy demand-sensing and forecasting analytics, identifying insights faster and more cost-effectively.
Accelerate time-to-value from business analysis with BigQuery: ConvergeCONSUMER applies BigQuery, Data Flow and Dataproc to help organizations derive value from structured and unstructured data, regardless of its storage location, which can be enriched with consumer data and external signals for improved business insights. Organizations can also view analytics in real-time, with the ability to apply pre-integrated signals to these datasets and accelerate time-to-value from business analysis.

"Our research on the Future of Consumer has revealed that consumers have an increasingly diverse set of preferences and an expectation for choice and convenience," said Ben Stiller, ConvergeCONSUMER general manager and principal, Deloitte Consulting LLP. "To win in this changing market, consumer-facing companies should be more precise, granular and responsive to individual customer needs. However, historically, these companies won based on their scale or 'mass': production, distribution, top-down decision-making, marketing and more. ConvergeCONSUMER is about helping companies deliver outcomes and quickly engineer advantage by moving their decision-making and experiences from mass to micro at scale. By combining Google Cloud's advanced generative AI, data analytics and cloud technologies with Deloitte's IP, deep industry/domain knowledge, expansive set of customer signals and engineering capabilities, we are ushering in a new era of customer centricity that can have dramatic commercial, operational and financial benefits for our clients."

"Consumer businesses run highly complex organizations and need tools that are practical to adopt and yield tangible benefits in real-world settings," said Carrie Tharp, vice president of Strategic Industries, Google Cloud. "With ConvergeCONSUMER, businesses can easily deploy and manage solutions that combine Google Cloud's leading generative AI and data analytics with Deloitte's deep industry experience, helping consumer organizations optimize areas that are core to their business, such as demand forecasting and supply chain performance."

An Expanding Alliance
Deloitte and Google Cloud have a longstanding alliance helping business and public sector organizations fundamentally improve how they operate. This next phase of the collaboration combines Deloitte's strategic vision and Google Cloud's leading technology– helping clients make key decisions to improve consumers' experiences and expand their overall market potential.

Deloitte is a four-time winner of Google Cloud's Global Services Partner of the Year award and is the inaugural winner of the Google Public Sector Partner of the Year award. Deloitte was recently recognized as the 2021 Industry Solution Partner of the Year.

Converge by Deloitte platforms are used by leading consumer, retail, banking, insurance, wealth management, life sciences and healthcare companies in more than 30 countries. ConvergeCONSUMER combines Deloitte's cross-industry expertise and business strategy with next-generation technology to help organizations improve CX, expand product offerings, acquire new customers and deliver a strong ROI. Converge by Deloitte is powered by a $750+ million investment in research and development, talent and alliances over five years to help reinvent and reimagine industries leveraging the breadth and depth of Deloitte and its ecosystem.

To learn more about ConvergeCONSUMER and Converge by Deloitte, visit our website.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 415,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte Consulting LLP