Trustworthy data vital for AI in audit processes.

TLDR:

Key Points:

• Trust in AI and machine learning is crucial for audit accuracy
• EY has invested $1bn in AI tools for its global network

After 15 years of investment in AI in audit, EY global assurance digital leader, Marc Jeschonneck, highlights the importance of trustworthy underlying data when using AI. He emphasizes the need for careful management of the rollout of AI tools, with proper training in due diligence before implementation. Jeschonneck stresses the significance of ensuring the data exposed to AI is reliable to achieve accurate results. EY’s substantial investment in AI tools reflects their commitment to leveraging technology in the audit profession.

Ultimately, the success of AI in audit hinges on the assurance of trustworthy data and proper training for implementation. EY’s substantial investment underscores the importance of embracing technology in the audit profession.