Artificial intelligence, Robotics Process Automation (RPA), and machine learning—all new technologies that are evolving quickly. But how much do you really know about them? Internal Auditors will soon be tasked with using this technology or auditing with it, or perhaps even both.
One of the biggest misconceptions is that AI will eventually replace human internal audit staff. But it is important to see these advanced technologies for what they really are: enablers to help internal auditors perform their jobs better and provide more value to their organizations. AI cannot replace a human’s decision- making abilities. Still, it can enhance internal auditors’ efficiency and effectiveness by giving them more tools and data to work with, thereby transforming both the audit and the internal auditor’s role.