The Big Four Firms Embrace AI Auditing: A New Frontier in Assurance
The Big Four accountancy firms—Deloitte, EY, PwC, and KPMG—are stepping into a groundbreaking arena by launching AI assurance services. As companies increasingly rely on artificial intelligence for critical operations, the demand for audits that verify the effectiveness and safety of these AI systems is skyrocketing. This shift not only represents a significant evolution in the auditing landscape but also opens up new revenue streams for these firms, reminiscent of their earlier ventures into environmental, social, and governance (ESG) metrics.
These audits will focus on assessing AI tools used in various sectors, including self-driving vehicles and healthcare applications like cancer detection. By leveraging their established reputations in financial audits, these firms aim to provide clients with the confidence that their AI systems are functioning as intended and are safe for use. As insurers begin to offer coverage for losses stemming from AI malfunctions, the need for reliable auditing becomes even more critical.
This move by the Big Four signals a transformative period for both the auditing profession and the tech industry at large. As we look ahead, it raises an important question: How will the integration of AI auditing reshape the future of technology and business assurance?
Original source: https://www.ft.com/content/25b88580-1f89-491b-be91-ce0f2df95dfa