Internal audit departments are slowing down the adoption of next-generation technologies, such as artificial intelligence and machine learning, according to a new survey. The survey, conducted by the consulting firm Protiviti, found the number of internal audit organizations undertaking digital transformation initiatives declined to 60 percent, compared to 76 percent in a survey a year ago. Only 7 percent of the nearly 780 chief audit executives and internal audit leaders polled indicated they are currently implementing machine learning and AI updates. Over half the survey respondents (53 percent) said they have no current plans to adopt machine learning or AI at all. The study was finished in the first quarter of this year, but was based on a poll conducted in the fourth quarter of last year, before the novel coronavirus pandemic began spreading across the U.S. The release of the study was delayed until now as businesses have reacted and adjusted to the new environment.

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?