KPMG UK has formed a strategic alliance with Databricks, a leader in data and artificial intelligence. The alliance will help the firm’s clients get the most out of their data and AI and empower them to innovate at a faster pace.
Generative AI could add an additional £31bn to the UK economy per year, according to KPMG estimates. The Databricks alliance will assist its clients to unlock this opportunity and 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.
KPMG’s Audit practice is also embedding the Databricks Data Intelligence Platform within KPMG Clara, KPMG’s global audit technology platform. By using Databricks technology, KPMG auditors can analyse billions of financial transactions across thousands of audits, driving enhanced audit quality and deeper insights into audit related risks. The alliance will further accelerate the adoption of AI within KPMG’s audits, with the Databricks platform providing a robust backbone for reliable data and AI solutions that support high-quality audit delivery.
Commenting on the news, Ian West, Head of Alliances, KPMG UK, said, “It is impossible to achieve value from investments in artificial intelligence without good data foundations, including data accuracy and access. 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.”
"In 2024 we will start to see more UK businesses build solid data foundations, democratising data across an organisation so that generative 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."