For best experience please turn on javascript and use a modern browser!
You are using a browser that is no longer supported by Microsoft. Please upgrade your browser. The site may not present itself correctly if you continue browsing.
Informatics Institute Informatics Institute

KPMG and AI4FinTech launch collaboration for AI and accountancy research

9 January 2025

KPMG and the AI4FinTech programme at the University of Amsterdam will collaborate over the next five years on research into artificial intelligence and accountancy. KPMG will contribute €100,000 annually for this initiative. The partnership marks a new addition to the AI4FinTech programme, which aims to connect academia with industry, focusing on financial technology.

The collaboration will involve co-financing research projects, with KPMG providing crucial practical expertise. The research findings will be made publicly available. Projects will focus on applying AI in audits as well as auditing AI itself - ensuring its reliability and responsible application. The coordination of these research projects will be managed by AI4FinTech, a UvA initiative involving the faculties of Economics and Business, Science and Law.

Research into AI reliability

Recent studies indicate that companies in the Netherlands are increasingly investing in AI, with AI accounting for 10% of the IT budget in most organisations. Notably, there is a strong emphasis on using generative AI to improve financial reporting. This makes research into AI reliability particularly significant in the coming years.

I am incredibly pleased and proud that KPMG is committing to the necessary investments to ensure the Netherlands remains a leader in AI. This is a tremendous boost for the ambitious and emerging AI4FinTech initiative we have launched. I eagerly look forward to working with these partners in the coming years on combining AI and Audit, which will be crucial for areas such as sustainability. Professor AI & Audit, scientific director AI4Fintech and partner at KPMG

A structural investment for five years

This structural investment will enable UvA to continue conducting top-tier research into the applications of AI in accountancy and, just as importantly, into auditing AI itself. The collaboration aligns well with the ‘AmsterdamAI, Technology for People’ coalition, of which UvA is a part, focusing on the development and responsible application of AI. This partnership represents a unique opportunity to enhance the societal relevance of the coalition.

We are very grateful to KPMG for this financial boost, but equally important is the practical knowledge KPMG brings to the research. This makes the research more relevant and, consequently, has a greater impact on society. Marc Salomon, Dean Amsterdam Business School of the UvA

More information about the AI4FinTech-project.