audit


Before Strategizing, Conduct an AI Audit

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Studies forecast that AI will boost profitability by an average of 38% by the year 2035. If an AI program interpreted this data, the result would be conclusive: Artificial intelligence is quickly becoming one of the economy's sharpest competitive edges. According to McKinsey & Company, just 47% of executives report embedding AI into one business process, and only 21% report implementing AI in multiple ways. While the technology is progressing at historically unprecedented rates, the majority of enterprises still face either barriers to entry or difficulty determining next steps. Whether a company is beginning its journey with AI, or ready to take the next measured step, it's essential to conduct a comprehensive AI audit.


Big Four Invest Billions in Tech, Reshaping Their Identities

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The Big Four accounting firms, through an unprecedented investment of billions into technology, are transforming not just how they operate, but also their very identities. The tech crusade goes far beyond automating standard auditing and accounting work. Through a focus on artificial intelligence, data analytics, and massive tech training throughout their organizations, the biggest players in accounting are making tech part of their DNA. "We haven't become a pure technology firm," Christian Rast, KPMG LLP's global head of technology & knowledge said in a recent phone interview. "We are a professional services firm, but technology is core to our future."


Artificial Intelligence and Internal Audit: A Pragmatic Perspective - The Protiviti View

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Companies have high hopes for transformational technologies, especially those that leverage the vast amount of data being collected. Approaches using methods such as artificial intelligence (AI), machine learning (ML) and deep learning are becoming increasingly accessible and gaining significant traction, as they allow for deep insights to be extracted from large and varied data sets. As noted in the 2019 IT Audit survey by Protiviti and ISACA, this transformation has the potential to fuel long-term growth. However, as Protiviti's recent global AI survey reveals, most companies are still at the starting gate when it comes to figuring out the answers to basic questions: What are the possible use cases for AI? Can we measure ROI? What data do we have and how usable is it?


Jose Duarte on how artificial intelligence is helping the eCommerce industry

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AI can be utilized to make CRM progressively powerful and exact. Presently, numerous organizations are utilizing different AI instruments to assess potential leads, information from web-based life, fundamental suggestions, and for programmed information passage, information investigation to fortify advertising and deals exercises. The eCommerce business is blasting more than ever with the presentation of artificial intelligence (AI). It is seeing a re-imagined structure that takes clients to another degree of experience and satisfaction. Customarily, retail organizations were fulfilled by simply making an eCommerce site for their physical stores, yet it isn--t sufficient at this point.


Jose Duarte on how artificial intelligence is helping the eCommerce industry

#artificialintelligence

AI can be utilized to make CRM progressively powerful and exact. Presently, numerous organizations are utilizing different AI instruments to assess potential leads, information from web-based life, fundamental suggestions, and for programmed information passage, information investigation to fortify advertising and deals exercises. The eCommerce business is blasting more than ever with the presentation of artificial intelligence (AI). It is seeing a re-imagined structure that takes clients to another degree of experience and satisfaction. Customarily, retail organizations were fulfilled by simply making an eCommerce site for their physical stores, yet it isn--t sufficient at this point.


Jose Duarte on how artificial intelligence is helping the eCommerce industry

#artificialintelligence

AI can be utilized to make CRM progressively powerful and exact. Presently, numerous organizations are utilizing different AI instruments to assess potential leads, information from web-based life, fundamental suggestions, and for programmed information passage, information investigation to fortify advertising and deals exercises. The eCommerce business is blasting more than ever with the presentation of artificial intelligence (AI). It is seeing a re-imagined structure that takes clients to another degree of experience and satisfaction. Customarily, retail organizations were fulfilled by simply making an eCommerce site for their physical stores, yet it isn--t sufficient at this point.


How Machine Learning And Contract Management Go Together

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Last year, Harvard Business Review published a great article on the ways that AI are changing contract management. Author Beverly Rich has said that AI and machine learning will be integral to contracts in the 21st Century. Rich said that there are some challenges to utilizing AI for contracts. The biggest issue is that the majority of companies don't retain data on their contracts. However, as a growing number of companies digitalize their contracts, they will have an easier time handling these processes.


Digital audits: the advantages add up

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The rules of business have changed. Gone are the days when business leaders had the luxury of time to ponder significant business decisions and make momentous changes to their organizations or processes. Now, businesses are transacting and making decisions practically in real time, which also necessitates that businesses manage risks and leverage opportunities with speed, accuracy and efficiency. As auditors, we have an unparalleled view of all the aspects of a business -- both up-close from an operational standpoint, as well as from a larger perspective in the global business environment. This combination of macro and micro views allows auditors to be well-placed to advise businesses on possible risks.


Why Audits Are the Way Forward for AI Governance - Knowledge@Wharton

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When organizations use algorithms to make decisions, biases built into the underlying data create not just challenges but also engender enormous risk. What should companies do to manage such risks? The way forward is to conduct artificial intelligence (AI) audits, according to this opinion piece by Kartik Hosanagar, a Wharton professor of operations, information and decisions who studies technology and the digital economy. This column is based on ideas from his book, A Human's Guide to Machine Intelligence. Much has been written about challenges associated with AI-based decisions.


The Digital Transformation Of Accounting And Finance - Artificial Intelligence, Robots And Chatbots

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It turns out that we might be at the perfect storm where how we store and access financial information combined with the maturation of tech capabilities are all in place to accelerate the digital transformation of accounting and finance. Just as others who faced the prospect of machines taking over jobs that used to be done by humans, accounting and finance professionals might anticipate the reality of 4th Industrial Revolution with fear. Actually, when machines take over repetitive, time-consuming and redundant tasks, it will free human finance professionals to do higher level and more lucrative analysis and counseling for their clients. Let's take a look at just of the few opportunities that are now available thanks to the digital transformation of accounting and finance. According to consulting firm Accenture, "automation, minibots, machine learning and adaptive intelligence are becoming part of the finance team at lightning speed."