KPMG AI Business Revolution Challenge: Transform Your Favorite Business with AI

Earns

+400 Points

How can AI help them transform how businesses do things, improve the products or services they offer, make customers happier, and grow their business while making a greater impact on the world? Come up with an idea for this company that uses AI for a new product, business line, or marketing campaign. Pitch your ideas to KPMG with a 3-5 minute video, and you might win big!

In this Challenge, you'll explore the question:

How can AI be used to make your favorite business (product, program, or service) even better?

Oct. 21 - Dec. 8 , 2024.

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Skills you'll develop

  • Problem Solving
  • Communication
  • Social Awareness

Explore the Issue

Congratulations on taking the first step to solve this Challenge -- becoming an expert on the topic! Pick and choose from all of the resources in this section to learn about the topic. Watch the video to learn more about this phase. Note that NAF has recommended all of the videos and other resources in the Challenge.

⏱️Time: 2- 4 Hours (Week 1 of the Challenge)

✏️Use the optional KNOtebook to record notes and questions

💼Mentor: Ask a mentor questions about the topic

🎯Future-Ready Skills: Social Awareness, Initiative and Self-Direction

Welcome to the KPMG AI for Business Challenge

Get ready for this exciting Challenge where you get to use your creativity and innovation skills! Watch the video to find out more.

An Introduction to AI (NAF Recommended Resources)

Artificial Intelligence (AI) is super cool because it works in so many different ways! Some AI creates new things like pictures or music (generative), while other AI makes decisions by sorting and labeling things. AI can also be “weak,” handling one task like playing chess, or “strong,” where it could do a lot of different things just like a human! Plus, there are different ways AI learns—sometimes it’s taught step-by-step (supervised), and other times it figures things out on its own (unsupervised). Let’s dive in and explore how all these types of AI work!

Choose some videos to watch to learn about AI.

Intro to AI (1:29)

What is Machine Learning? (2:52)

AI: Training Data & Bias (2:40)

How Neural Networks Work (5:04)

How Computer Vision Works (6:24)

How Chatbots and LLMs Work (7:20)

Does AI Have Creativity and Imagination? (5:17)

Ethics & AI: Equal Access and Algorithmic Bias (3:23)

Ethics & AI: Privacy & the Future of Work (3:27)


Why is Business Important? (NAF Recommended Resources)

Businesses are important to society because they provide jobs, products, and services that people need in their everyday lives. They also help the economy grow by creating new ideas, building communities, and supporting local projects. Without businesses, we wouldn’t have many of the things we use every day, like food, clothes, technology, or transportation!

Improving Communities (1:16)

Business Ethics (2:39)

Small vs. Big Business (4:22)

Industries That Use AI (NAF Recommended Resources)

AI has come a long way since its early days, evolving from simple computer programs to powerful systems that can learn and solve problems. Today, AI is used in tons of industries like in healthcare to help doctors perform surgeries, in gaming to create smarter opponents, and in transportation to develop self-driving cars. As AI keeps growing, it's finding more unique ways to make our lives easier and more exciting!

Agriculture (3:05)

Ecommerce (1:47)

Education (3:20)

Fashion (3:30)

Gaming (6:02)

Healthcare (5:56)

Social Media (2:39)

Sports (2:05)

Transportation (4:05)

Benefits of Using AI in Business

AI can help businesses grow by improving many different areas at once. It strengthens cybersecurity to protect important information, while also providing 24/7 customer service through chatbots. AI can even analyze data to spot trends and design better websites, helping businesses make smarter decisions and become more successful overall.

Communication (2:08)

Customer Service (3:54)

Cybersecurity (3:20)

Data Analysis (1:42)

Graphic Design (2:52)

Website Builder (1:00)

AI Ethics (NAF Recommended Resources)

AI ethics is all about making sure that AI is used in a fair and responsible way. For example, we need to ensure AI doesn't show bias when making decisions, like choosing who gets a loan or a job. It's important to set rules so AI helps everyone equally and doesn’t invade people’s privacy or cause harm.

Influence in Elections (3:14)

Deepfakes (0:26)

Scams & Fraud (2:59)

How KPMG Improves Businesses with AI

Discover how KPMG uses cutting-edge AI to help businesses grow while staying ethical! In the resources below, you'll learn how AI has transformed industries by improving customer service, making smarter decisions, and solving real-world problems. Click the links to explore the amazing ways KPMG is using AI to change the world for the better and be inspired by their innovative solutions!

Next Steps

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Mentor Moment: Ask Questions!

Did you know that there are professionals, who created the Challenge, standing by to help you? They will also be judging your final pitches, so be sure to take advantage throughout the Challenge and post your questions on your dashboard. They want you to win!

What are you curious about? Ask them any questions that came up for you during the Explore phase.

Three Approaches: Your Choice!

One important part of The KnoPro Challenges is choosing the type of solution you plan to create (in a group or solo) and ultimately pitch to the judges. Check out an example of each of your choices: a product idea, a new business concept, or a marketing campaign. You can also get inspiration from all the winning projects.

Flip the cards to help you decide which approach you may want to take. Later in the Challenge, you'll choose ONE approach.

Product

Product Idea

Product Idea

Get creative and come up with a new product idea that addresses the problem. This might be an app, a game, or a consumer product, for example. The possibilities are endless! You’ll write a design brief to plan your product, and ultimately create a “prototype” to pitch to the judges.
Business

Business Concept

Business Concept

Imagine a unique business idea that addresses the problem. This might be a for-profit or non-profit venture, an online platform, or an in-person experience/pop-up shop, for example. The possibilities are limitless! Write a business plan, and then create a fun way to share your business idea with the judges.
Marketing (1)

Marketing Campaign

Marketing Campaign

Design an exciting and catchy marketing campaign that addresses the problem and inspires people to act! The campaign might be a viral social media video, a series of emails, or a live event, for example. You’ll write up a marketing plan and then create some "assets" and pitch your idea to the judges.

Narrow the Issue

Get ready to choose a focus, an audience, and a brainstorming question!