PwC Exec: AI Offers Significant Opportunity for Companies Across All Sectors

Artificial intelligence (AI) presents a "huge opportunity" for media, healthcare and other companies when it comes to their financial health and how "people communicate and trade with each other," according to Gary Rapsey, global assurance disruption and innovation leader at PwC UK. Major advances are being made in healthcare today, with the help of AI, he said June 7 at the H2O World Conference. "When I contrast that with company health, however … little has changed in that space in the way that company health is both diagnosed and company health cured," he said. Unlike in the world of healthcare, the best technology isn't typically being used to help companies' accountants, he told the conference. He explained: "Accountants are there to tell the truth. They're there to keep businesses and the market honest. But the problem that we face today is multiple-fold. We have a huge explosion of data – some real, some not real…. We have information which cannot be contained within companies."