Global audit, tax, and advisory services providing company KPMG partners with American software company Blue J to develop tax analysis tools for the UK market that uses artificial intelligence (AI) to support decision-making on complex tax issues.
With its cooperation with Blue J, KPMG UK hopes to harness Blue J’s expertise in predictive analytics tools for tax attorneys and accountants to develop a new tool that would reduce the time consumed in complicated tax filings for its employees in the United Kingdom.
Chief Expertise Officer – Tax & Authorized at KPMG, Stuart Tait, said, “The Blue J know-how helps us to navigate sophisticated laws and case legislation, which dramatically reduces the time it takes to analyze technical positions and can assist with the large caseload.”
He further added that they expect that by freeing up our employees’ time, they will be able to devote more resources to collaborating with their clients on their most pressing business issues. They will be able to estimate tax scenario outcomes with greater than 90% accuracy and four times the speed of typical research approaches like keyword and Boolean searches, thanks to AI.
Blue J’s tool is now available to all 2,500 of KPMG’s tax and legal experts, and Tait says it will speed up the firm’s technical analysis and increase the timeliness and accuracy of advice provided to customers.
“This decade will see unimaginable progress within the sophistication of study instruments that use AI to allow professionals to ship superior outcomes for his or her purchasers, in a much more environment-friendly method than beforehand attainable,” said CEO of Blue J, Benjamin Alarie. Benjamin also mentioned that KPMG is at the forefront of this trend, and they are thrilled to be working with them on this solution.