Acuity partners with Databricks to boost AI in finance sector
Acuity Knowledge Partners has entered into a partnership with Databricks to offer the Databricks Data Intelligence Platform to more than 650 financial services organisations around the world.
The collaboration aims to leverage the integration of data and artificial intelligence (AI) to address workflow automation and data-driven decision-making within the financial services industry. Acuity's client base includes major institutions in investment banking, asset management, and private equity.
Industry focus
Services built on Databricks' Data Intelligence Platform will become available to Acuity's worldwide clientele. According to the company, the partnership will allow financial services firms to make more effective use of their existing data assets. The unified approach is designed to help organisations streamline analytics, AI, and business intelligence initiatives.
Databricks' offering employs a Lakehouse architecture, which combines elements of data engineering, data science, machine learning, and analytics in one collaborative setting. The Data Intelligence Platform brings together data teams for a range of data-driven purposes, from streaming analytics to advanced business intelligence applications.
Enhancing workflow automation
The agreement builds on the recent launch of Acuity's agentic AI platform, Agent Fleet. The workflow automation features within Agent Fleet will now be underpinned by Databricks' AI, forming part of Acuity's wider technology stack.
According to Acuity, integrating Databricks enables its clients to process and extract value from data at scale. The intention is to give institutions in the financial sector greater ability to derive insights and increase operational efficiency by integrating advanced analytics into their workflows.
Company perspectives
"Acuity is the first firm of its kind to bring Databricks to market for financial services firms," said Jon O'Donnell, Chief Operating Officer of Acuity Knowledge Partners. "The integration of Databricks is another proof point for our clients and the wider market as we continue transforming Acuity into a technology-first, digital solutions provider to the world's financial services industry."
The Acuity and Databricks collaboration is positioned as enabling better mining and use of large datasets for institutions with substantial data holdings. This is expected to facilitate improved decision-making processes across investment and management teams.
Data and AI in financial services
The joining of data management and AI applications is aimed at providing financial institutions with deeper business insights, more responsive analytics processes, and new opportunities for leveraging information within strict regulatory and operational frameworks.
Databricks' Data Intelligence Platform operates as an open, scalable solution for various data-driven requirements. Its capabilities in unifying disparate sources and workflows have seen adoption in sectors with high standards for data integrity, security, and scale.
Company background
Acuity Knowledge Partners is headquartered in London and employs more than 6,400 analysts and industry experts across 16 global offices. The company provides bespoke research, data management, analytics, talent, and technology solutions for financial services, including asset managers, corporate and investment banks, private equity and venture capital firms, hedge funds, and consulting firms.
Acuity was established as a separate business from Moody's following its acquisition by Equistone Partners Europe in 2019. In January 2023, funds managed by Permira acquired a majority stake in the business, with Equistone remaining as a minority shareholder.
By deploying the Databricks Data Intelligence Platform, Acuity Knowledge Partners aims to further support its clients' demands for scalable, secure, and flexible technology across the global financial sector.
