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KPMG UK has announced a joint development with Blue J to launch a “first-of-its-kind” suite of artificial intelligence (AI) tax analysis tools, enabling KPMG’s tax team to use AI to predict tax scenario outcomes with over 90% accuracy.
Blue J is a provider of predictive analysis tools for tax positions in North America, and KPMG will be its first alliance partner in Europe.
The new tool will also reduce the time spent searching for and analysing tax legislation and case law. Additionally, the tool will accelerate technical analysis for organisations having to navigate the increasing pace of legislative change, in a bid to support decision making on complex tax issues.
KPMG said a key advantage of the tool is that it provides a structured approach for checking tax legislation and case law, which would have previously been done manually, and it will provide documentary evidence of the tax analysis.
The firm also said the tool will help to train junior colleagues following the introduction of hybrid working as juniors may not have as much direct access to senior staff for coaching; the tool will help guide them through cases and educate them on tax research.
Stuart Tait, partner and chief technology officer for Tax and Legal at KPMG UK, said: “We are passionate about investing in advanced technologies like those developed by Blue J to improve the speed and accuracy of our advice. We are delighted to be the first adopters of Blue J in the UK.
“The tool will allow us to be completely transparent and trusted by following a better tech-enabled structure to evidence our high quality of work.”
Benjamin Alarie, CEO of Blue J, added: “This decade will see incredible growth in the sophistication of analysis tools that use AI to enable professionals to deliver superior results for their clients, in a far more efficient manner than previously possible.”
