Are Auditors Gratified with The Efficient Assistance from Artificial Intelligence?

Abstract

Artificial intelligence (AI) plays a pivotal role in enhancing various business functions including automating processes, gaining insights from data analysis, and engaging with customers and employees. A recent global survey highlights its extensive use in service operation optimisation, customer service analytics, risk modelling, and sales forecasting. By automating repetitive tasks, AI enables employees to focus on more impactful work while minimising human errors. Moreover, AI's ability to analyse large datasets rapidly uncovers valuable insights and patterns, aiding decision-making across various business segments, such as customer behaviour analysis and cost assessment. Despite its potential benefits, implementing AI requires substantial investment in technology and talent acquisition. While larger companies are more advantage to acquire the relevant resources, smaller ones may face financial constraints. Nonetheless, AI is perceived as an important driver of success, offering opportunities for efficiency and innovation.