Current Situation
Audits rarely have the option to analyze financial transactions and business deals in an effort to anticipate problem areas for potential or upcoming audits. Businesses often enter audits without foresight due to lack of technical capabilities.
Goals and Objectives
Generative AI systems can sift through business transaction (current and historical) and provide a forecast of prospective problem areas and major red flags before outside auditors.
Technology Deployed
Enterprise hardware, personal devices, cloud, Big Data and analytics, mobile, applications, business consulting, and cognitive technologies
Use Case Summary
Financial leaders can use GenAI to anticipate and address problem areas prior to auditors to streamline audits and reduce audit risk.