The facility, which will be housed at the company's Platform X Global Innovation Hub in Dublin's IFSC, will result in the creation of 200 new employees.

Over the following three years, the new positions in cyber security, risk, AI, and regulatory services will be filled.

The EU AI Hub, which is backed by Microsoft and the AI security and trust software company Cranium, is intended to provide KPMG clients access to resources and guidance to help them deal with the challenges of implementing AI, including the upcoming EU AI Act.

“The EU AI Hub brings together top minds and cutting-edge technology in a collaborative environment and is uniquely positioned to support businesses in optimising AI solutions,” said Sean Redmond, Director of KPMG.

“It is also important that organisations don’t see the impending EU AI Act as a blocker to innovation and ideation, but instead it provides the guardrails that enable organisations to experiment with AI and deliver value to their businesses and customers,” added Redmond.

Minister of State Neale Richmond praised the establishment of the new EU AI Hub during his remarks during the ribbon-cutting.

“AI presents an opportunity, and a challenge, for many Irish businesses, and KPMG’s Hub will help them to navigate the world of AI, and the regulation that comes with it,” added Richmond.

“Through our strategy 'AI - Here for Good,’ Ireland aims to be an international leader in the AI space, with a people-focused and ethical approach, and KPMG’s EU AI Hub will help us to reach this goal,” he stated.

Cranium's CEO, Jonathan Dambrot, stated that his organisation will be in charge of both risk assessments and the technical documentation of AI models.

“Joining forces with KPMG and Microsoft, we’re demonstrating that organisations are backed by the confidence and maturity to achieve EU AI Act readiness,” said Dambrot.