KPMG UK is beefing up its services by forming a strategic alliance with US software giant Databricks in a move designed to help the consultancy’s clients get the most out of their data and artificial intelligence and empower them to innovate at a faster pace.
With KPMG estimating that generative AI could add £31bn to the UK economy each year, it claims the Databricks alliance will assist its clients to unlock this opportunity and reach their wider business objectives.
With origins in academia, Databricks was founded in 2013 in San Francisco, and now works with 9,000 organisations worldwide — including ABN AMRO, Condé Nast, Regeneron and Shell — on large-scale data engineering, collaborative data science, full-lifecycle machine learning and business analytics.
KPMG maintains that its own technical expertise, combined with the Databricks Data Intelligence Lakehouse Platform, will help clients innovate using an open, scalable platform to meet all their data-driven requirements.
KPMG’s Audit practice is also embedding the platform within its global audit technology system KPMG Clara, with the aim of analysing 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 the backbone for “reliable data and AI solutions that support high-quality audit delivery”, the firm says.
KPMG operates from 20 offices across the UK with 17,000 partners and staff. The UK firm recorded a revenue of £2.72bn in the year ended September 30 2022.
In 2022, it entered a similar strategic alliance with analytics giant Alteryx, as part of its long-term aim of to investing in technology to automate the firm’s solutions and help clients accelerate digital transformation programmes. However, GenAI now appears to have taken over DX.
KPMG UK head of alliances Ian West said: “It is impossible to achieve value from investments in AI 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.
“Our alliance with Databricks will help us support our clients, whether it’s to better utilise their data and innovate at speed or to deliver them more robust audits.”
Databricks VP of Northern Europe Michael Green commented: “In 2024 we will start to see more UK businesses build solid data foundations, democratising data across an organisation so that GenAI can start to drive tangible business outcomes.
“With KPMG we will support more businesses in adopting a modern data architecture – one that is built on open standards with a robust governance model.”
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