8 January 2025
KPMG is committing an annual contribution of €100,000 for 5 years. This partnership is a new addition to the UvA’s AI4FinTech programme. This programme aims to bridge the gap between academia and industry, focusing on financial technology.
The collaboration involves co-funding research projects, with KPMG also contributing practical expertise. The research will focus both on the application of AI in auditing and the auditing of AI itself, particularly its reliability and responsible use. The findings will be made publicly available. The research projects are coordinated by AI4FinTech, a recently launched interdisciplinary initiative by the UvA. It brings together expertise from UvA Economics and Business and the faculties of Science, Mathematics and Computer Science, and Law.
Recent studies indicate that companies in the Netherlands are increasingly investing in AI. Currently, AI accounts for 10% of the IT budgets of most organisations. According to KPMG, it is worth noting that using generative AI to improve financial reporting is being given a high priority. This makes research into its reliability particularly crucial in the coming years.
Thanks to the structural investment over the next 5 years, the UvA can continue exploring AI applications for accountancy and methods to audit AI systems. The partnership aligns with the AmsterdamAI, Technology for People coalition. The UvA is a part of these programmes that focus on the development and application of responsible AI.
Marc Salomon (Dean of the UvA's Amsterdam Business School) values KPMG not only for its financial support but also for its practical insights: ‘This makes the research more relevant and this in turn will have a greater societal impact.'