KPMG issued a report citing all the transformational ways GenAI has transformed industry, it’s been widely cited.
One minor problem: it turns they used AI to write the report, and it made up all of the evidence.
KPMG have now withdrawn the report in full.
https://www.ft.com/content/b3828e92-4961-4b39-84f0-c42f33be3c3f
Worth noting that report was out for 9 months before anybody actually challenged it.
Similar with the 80% of ransomware groups use GenAI report from MIT (which I ended up getting removed).. is anybody actually bothering to check the GenAI thing is real?
KPMG and EY aren't, they aren't even reading their own reports as they're busy cashing the cheque like MIT.
Sounds like an entire engagement team is heading "on the beach".
@GossiTheDog because of *course* they did.
@GossiTheDog is his where we head with the reliabiloty of the worlds third line of defence? This is dystopian. Nothing matters, financial statements get partly checked only, stock reports might include hallucinations.
@GossiTheDog More people need to hear this! I can't believe the amount of BS in the news about "AI".
@GossiTheDog This has gone so far that I think we're going to have to change the old "It was DNS" to "It was AI hallucinations"
@GossiTheDog Time between publication and the issues getting flagged… 😅
@GossiTheDog 😂 99% of big four can be replaced by AI.. with proper guardrails
I have a hunch about SpaceX's SEC filing… 😑
@GossiTheDog collective hallucination aka bullshit
@GossiTheDog
We really need to get rid of the term "Hallucinations". It's an algorithm spewing nonsense. It's a bullshit generator spewing bullshit. It's a chatbot trained to serve up crap that sounds plausible. In short, it's a tool that does exactly what it's designed to do.
And the people who published this monstrosity should not be able to hide behind the tool they used!
Jun 12, 2026, 10:48 AM@GossiTheDog [Nelson Muntz laughter]
@GossiTheDog 🤪😂
So some will continue to trust this kind of company ?
@GossiTheDog AI doesn't hallucinate. That is just a marketing ploy to try and suggest it is in some way conscious (it isn't and never will be). It is the people unthinkingly using it that are deluded.
I love this for them.
@GossiTheDog Kind of makes one wonder whether the consulting firms have a future if they are just relying on AI to produce their own reports. OTOH, this story isn't exactly a ringing endorsement of that replacement.
Jun 12, 2026, 11:06 AM@briankrebs@infosec.exchange @GossiTheDog@cyberplace.social You would have thought that the large, er, "thought leading" consulting firms would have been violently anti-AI; verbose sycophancy as a service is basically the whole business model. That and pre-arranged supplier approval with large orgs so that nobody manages to hire any consultants who are actual experts.
@mavnn @GossiTheDog I quote tooted your post, but it's still telling me you have to approve showing the quote.
@briankrebs @GossiTheDog consulting firms are hosed
"The industry" needs to realize that using LLMs for things that have a binary works/doesn't work scenario (development, some exploit work) is vastly different from producing text that cannot be verified the same way.
AI is the wet dream of most of the big consulting firms. why pay expensive SMEs when you can use AI and still charge the end customer obscene amounts? way higher profit margin.
every time i've ever had to deal with the big consulting firms, i walk away feeling like i need to bathe in bleach.
@GossiTheDog Excellent. Brilliant even.
LOL
@GossiTheDog The only fittingly shambolic sequel is where UBS learns that they have a shadow IT problem and, empirically, they have integrated AI agents across investment advisory, risk management and compliance monitoring; and maybe having someone's pet openclaw setup handling risk and compliance is not good.
@GossiTheDog par for the course
@GossiTheDog 'AI is great!' says report written by an AI for an audience of people who really want AI to replace employees. It's impressive how they've found a way to be dumber than the 'billionaires are great' op eds, written by millionaires paid by billionaires, published in papers owned by billionaires.
Jun 12, 2026, 11:49 AM@GossiTheDog And that's why we pay big bucks to these big consulting companies, because they are really big and they are really good at consulting and research.
Oh...again?
@GossiTheDog
Their "AI" appears to have been even more successful at making up stuff than their humans used to be (don't ask for my evidence on the reliability of KPMG reports, I signed some kind of NDA).
They always did good presentations and excellent lunches, though, according to the senior managers of their clients.
@GossiTheDog ...the wrong conclusion is that AI will not fundamentally change things, the right conclusion is that KPMG and EY are totally unreliable companies that shouldn't be hired after this and earlier scandals.
@GossiTheDog "KPMG issued a report citing all the transformational ways GenAI has transformed industry, it’s been widely cited.
One minor problem: it turns they used AI to write the report, and it made up all of the evidence. "
You could not make this stuff up. At least, I couldn't. Just not enough imagination.
@GossiTheDog The AI fox hired to write a report on why the AI fox excels at guarding the actual henhouse. Funded entirely by actual hungry greedy trillionaire foxes.
This is so remarkably stupid, and utterly predictable. Musk is betting on "too big to fail" to keep him out of jail and afloat. Let's promise to Bernie Madoff and ENRON Musk and all his ilk.
@GossiTheDog 😂
Ancrer toute affirmation dans source identifiable.
Distinguer le validé, le probable, le spéculatif et l’infondé.
Croiser les disciplines et les époques.
Interroger les biais des institutions et des consensus.
Maintenir une humilité épistémique ne jamais confondre l’absence de preuve avec la preuve de l’absence.
Projeter réflexion dans le futur, intégrant l’incertitude.
méthode
Socrate, Descartes, Montaigne, Kant doit être réactivée à chaque génération les Py se réincarnent
@GossiTheDog Another reason why A.I. is a FRAUD.
@GossiTheDog Ironically, if it stops people relying on biased KPMG analysis that would be fairly transformative
@GossiTheDog Marking ones own homework! 😜
@GossiTheDog Ironically makes it a very good report on the state of the industry after AI.
vOv
Jun 12, 2026, 1:39 PM@GossiTheDog we're all being grifted here...
A KPMG report on how Al is being used by businesses across the world exaggerated adoption of the technology with bogus case studies that appear to have been based on AI hallucinations.
The October report, "Redefining excellence in the age of agentic AI", made numerous false claims about the use of AL by organisations including the Swiss bank UBS, the UK's National Health Service and the public transit groups Swiss Federal Railways and Transport for London.
The inaccuracies were identified as AI hallucinations by the research group GPTZero and verified by the FT. After being alerted to the issue, UBS said it would ask KPMG to remove the false claims, and the Big Four firm on Thursday pulled the report from some of its websites.
The discovery is the latest in a number of apparent AI hallucinations in reports by professional services firms and follows EY's retraction of a study last month over fake footnotes and other errors identified by GPTZero.
The KPMG report claimed global wealth manager UBS "integrates Al agents across investment advisory, risk management and compliance monitoring".
@GossiTheDog Well, c'mon, the title says it all: "Redefining excellence."
They just didn't expect it to generate a rating somewhere between zero and "no effing way" 🤦♂️
@GossiTheDog
KPMG: Bogus is as bogus does!
In breaking news KPMG has identified the that the MCT of the GMQP will almost certainly be identified as a QU CVRS in the near future of GHUI. These hallucinatory XKCPs will be expunged from RNDSPLV as soon as the AIRTI of MSLET reaches the threshold determined by KPMGs evaluation of GRW.
/s
Jun 12, 2026, 4:09 PM
"Is accounting still a profession?"
https://archive.is/SvbLx
https://www.ft.com/content/af62db01-f6cb-47dc-9df5-b4d22258037b
Remember who funds the push for AI accounting & pushes for de-professionalisation of women's careers.
https://www.bizjournals.com/wichita/news/2025/10/15/koch-artificial-intelligence-accounting-ai-startup.html
https://www.desmog.com/2025/12/11/the-koch-network-is-pushing-trump-to-accelerate-ai-documents-show/
Imagine a stock market where the financial statements were produced by AI.
https://abcnews.com/US/trumps-accounting-firm-resigns-financial-disclosures-longer-relied/story?id=82886011
Or an audit or tax return was prepared by AI.
https://en.wikipedia.org/wiki/Trump_v._Mazars_USA,_LLP
Or payroll processing.
https://www.prnewswire.com/news-releases/onramp-secures-15m-to-accelerate-growth-and-scale-ai-capabilities-led-by-koch-disruptive-technologies-302612386.html
1/
Jun 12, 2026, 4:26 PM@GossiTheDog I keep saying it, AI boosters are the best salesmen in history
@GossiTheDog I think they're revealing a: that no-one actually read these reports critically before anyway (or maybe just that nobody read them, period), and b: at least in some other cases than this one, that one of the things broken by the chatbots are the foundational chains of trust that enables people to trust presumably well-intentioned output from competent people who either believe it is a good idea to use chatbots, or are forced to use them.
@GossiTheDog ah KPMG! - the auditors that signed of HBOS's accounts six months before that bank crashed entirely. The same KPMG whose senior partners forged meeting minutes to which helped hide the collapse of Carillion on their watch. But they faced a £2B lawsuit from the creditors.
A living example of "but who audits the auditors?"
Jun 12, 2026, 5:02 PM@GossiTheDog Turns out, you actually can make this shit up!
Jun 12, 2026, 5:13 PM@GossiTheDog self fulfilling prophecy
@GossiTheDog 😂👍 That's so #AI !
@GossiTheDog The Trump processor now installed in AI computers. Lies and makes things up on the spur of the moment. I wonder what another AI would come up with if asked to validate the original report.
Jun 13, 2026, 12:24 AM@GossiTheDog I guess this means GenAI has, in the end, successfully boosted KPMG's Streisand Effect skills.
