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Industrial generative AI company, Zapata Computing Holdings Inc., and KPMG UK, an audit, tax, and advisory services firm, have completed a successful client project to streamline the compliance models of an international insurance firm.
By leveraging Zapata’s analytics, optimization, and generative AI capabilities, the project aims to transform the client’s risk, operations, and compliance modelling.
KPMG’s actuaries, working with Zapata’s data engineers, will convert one of the client’s compliance models, comprised of tens of millions of inputs, and build an optimized solution with innovative algorithms.
The new approach would reduce the computing time by more than a thousand times while maintaining accuracy and enabling the client to meet compliance requirements. The clients would have in-advance submitted approximations instead of actual finished calculations.
Christopher Savoie, Chief Executive Officer and Co-founder, Zapata AI, commented, “KPMG UK is one of the most trusted professional services firms when it comes to helping clients manage risks, comply with regulations, and improve overall business performance.
“The transformative results we’ve demonstrated for this insurance client are applicable to any company that struggles to manage and maintain high complexity, high resource computational models on legacy systems and architectures.
“Zapata’s ability to quickly deliver value is especially meaningful for our clients, given the current environment of scarce compute and data science resources. Zapata AI is proud to partner with KPMG UK to combine our technical and domain expertise and thought leadership to deliver client value.”
Feargal De Burca, Partner at KPMG UK, concluded, “The team at Zapata AI has shown remarkable results in streamlining large, complex model workflows for our insurance client.
“Zapata’s expertise and technological solutions have the potential to transform how financial services and insurance companies function by delivering efficiencies and innovative digital transformation programs.”
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