Forty-one percent of chief audit executives (CAEs) are using, or plan to use, generative AI (GenAI) this year, according to a survey by Gartner.
In a survey of 112 CAEs, conducted from July to August 2023, 12% of respondents said their department was already using GenAI models (such as OpenAI GPT and Google Bard). Another 29% of CAEs had not implemented the technology yet, but intended to do so over the next year, and a further 20% had plans to adopt it in more than a year.
Audit departments are primarily using GenAI to streamline audit writing and support idea generation during the scoping of audit engagements and after the engagements conclude. Common GenAI use cases include finding themes or patterns in large volumes of text, detecting anomalies or instances of noncompliance, drafting audit programs, summarising documents, and writing audit reports.
“GenAI is quickly transforming business and is on the path toward having a similar profound effect on audit. Although CAEs are optimistic about GenAI’s potential to accelerate audit productivity, they’re also moving carefully and first exploring how to incorporate it safely and effectively,”…
