Topic Synopsis:
Artificial Intelligence and Audit - Applications, Risks and Audit Methodology
Adoption of Artificial Intelligence (AI) has accelerated in the last two years as organisations realise its potential and appreciate the value it can create for customers, regulators, employees and other stakeholders. However, we are still only in the early stages of adoption and realising the benefits of AI in society, Government and commercial organisations. McKinsey Global Institute mapped various AI techniques over 400 use cases and estimates the total impact of AI between $3.5 trillion and $5.8 trillion.
This presentation is designed to equip audit professionals with the necessary skills and knowledge to help their organisations along the AI journey. During the session, we will look at what exactly is AI, its types and how it is applied in various parts of an organisation. Afterwards, we will consider the risks associated with AI and possible mitigation approaches. The session will end with the presentation and discussion of a methodology that can be applied specifically to evaluating and auditing AI initiatives in an organisation.
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