I am not an expert on AI, although I have toyed with Google’s Bard, Microsoft’s Bing, and OpenAI’s ChatGPT. But clearly it is seen as the next best thing since sliced bread, so the question is what it should mean for risk and audit practitioners.
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I started by asking Bard “what is artificial intelligence?” and it replied:
Artificial intelligence (AI) is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment. AI research has been highly successful in developing effective techniques for solving a wide range of problems, from game playing to medical diagnosis.
There are many different types of AI, but some of the most common include:
- Machine learning: This is a type of AI that allows computers to learn from data without being explicitly programmed. Machine learning algorithms are used in a wide variety of applications, such as spam filtering, fraud detection, and image recognition.
- Natural language processing: This is a type of AI that allows computers to understand and process human language. Natural language processing algorithms are used in a wide variety of applications, such as machine translation, chatbots, and speech recognition.
- Computer vision: This is a type of AI that allows…
