KPMG UK has formed a strategic alliance with Databricks, a leader in data and artificial intelligence. 

KPMG says 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 £31 billion to the UK economy per year, according to KPMG estimates. The Databricks alliance will assist its clients to unlock this opportunity, it says.

KPMG’s Audit practice is also embedding the Databricks Data Intelligence Platform within KPMG Clara, KPMG’s global audit technology platform. It says that by using Databricks technology, its auditors can analyse billions of financial transactions across thousands of audits, enhancing quality and insights into audit-related risks.

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“It is impossible to achieve value from investments in artificial intelligence without good data foundations, including data accuracy and access,” said Ian West, head of alliances, 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.”

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Michael Green, VP of Northern Europe at Databricks, added: “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.

“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.”