Artificial Intelligence

The future for internal auditing

“I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse.” Robert Metcalfe, founder of 3Com, 1995

Every technical breakthrough has its naysayers, and arti cial intelligence (AI) is no exception. But history indicates that industries and professions that fail to embrace new technologies tend to fade, while those that adopt and adapt thrive.

Still undecided whether AI is a game-changer? Ask John-Robert Curtin, founding member of the 4Civility Institute: “Over time, arti cial intelligence has the potential to change everything related to mankind.”

Getting a Grip on AI

The rst hurdle in dealing effectively with AI is understanding what it is. The consensus is that AI is hardware and software that are capable of behaving like the human brain: learning, reasoning, adapting, analyzing, making decisions, and performing complex and judgment-driven tasks. Couple this capability with the massive amounts of data created today, and it is easy to see how AI-powered machines can enhance productivity and make life easier by taking over mundane tasks.

It is important also to understand what AI is not. According to Michael Koenig, instructor at Seattle University, AI is not about being correct and complete. It is about nding probabilities. “An AI system cannot perform the task of nding all the contracts with errors,” he explains, “but it can answer the question, ‘What is the probability that this contract has an error?’ ”

Bottom line, AI is a self-perpetuating and -improving technology. The more it does, the smarter it gets — and now the machines are teaching other machines, learning on the job.

logo experttube

Video's op het gebied van Audit & Control, Actuariaat & Risk Management, Juridisch & Fiscale Zaken, Pensioenen, Schade & Hypotheken, Compliance en Investment Management.

Bekijk ons volledige overzicht op

logo CareerTube

Videoplatform met werkenbij video's van toonaangevende organisaties in de financiële wereld. Met een focus op de finance specialisatie zorgt de koppeling met de 17 (niche) vacaturesites van CareerGuide direct voor een relevant bereik.

Bekijk ons volledige overzicht op