KPMG & Databricks Form Alliance to Boost AI, Data Innovation
KPMG has announced it has formed a strategic alliance with Databricks, a leader in data and artificial intelligence, to help the firm’s clients in the UK get the most out of their data and AI and empower them to innovate at a faster pace.
Research has found that generative AI (Gen AI) could add an additional £31bn (US$39.5bn) to the UK economy per year, according to KPMG estimates. The Databricks alliance, the company says, will assist its clients to unlock this opportunity and help them reach their wider business objectives.
KPMG’s technical expertise, in combination with the Databricks Data Intelligence Platform, will help clients innovate using an open, scalable platform to meet all their data-driven requirements. Databricks’ leading data intelligence platform forms an open data management architecture that enhances data analysis and helps foster greater collaboration.
“It is impossible to achieve value from investments in AI without good data foundations, including data accuracy and access,” comments Ian West, Head of Alliances at KPMG UK. “With AI moving at such pace, organisations need to know that any tools they use or build are developed on the best data architecture with an appropriate data strategy. That’s why we are thrilled to announce our alliance with Databricks, so we can support our clients, whether it’s to better utilise their data and innovate at speed or to deliver them more robust audits.”
Building solid data foundations and using Gen AI to drive business value
KPMG’s Audit practice is also embedding the Databricks Data Intelligence Platform within KPMG Clara, KPMG’s global audit technology platform. Using Databricks technology, the companies say that KPMG auditors can analyse billions of financial transactions across thousands of audits, driving enhanced audit quality and deeper insights into audit-related risks.
"In 2024 we will start to see more UK businesses build solid data foundations, democratising data across an organisation so that Gen AI can start to drive tangible business outcomes,” says Michael Green, VP of Northern Europe at Databricks. “We are therefore proud to form this alliance with KPMG to support more businesses in adopting a modern data architecture - one that is built on open standards with a robust governance model."
In December 2023 KPMG announced that it had appointed its former UK Head of Consulting David Rowlands as its Global Head of AI and launched the KPMG Trusted AI framework to ensure a responsible and ethical approach to AI transformation.
The consulting leader has also named several partnerships, including with Google Cloud and with Microsoft, aimed at bolstering its offerings for clients.
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