Ronan Fogarty, a Deployment Leader for Transformation in Deloitte, has been involved in gearing up for and deploying AI technology for some time and offers his perspective on the opportunity that it can bring to the audit and assurance profession.
“Innovation through the use of AI is the expectation in today’s world and Deloitte’s commitment to continued investment in emerging technologies will drive a huge amount of impact and value for both our clients and staff.”
Deloitte Omnia and Deloitte Levia are two solutions that have been deployed to support auditors in their work. Automation can improve routine tasks and analytics, and lead to greater and deeper insights. The successful use of these innovative tools can create a more dynamic working environment, empower our professionals, and set new standards of excellence.
“AI solutions do not exist in isolation and our goal is to fully embed these in our Global platforms, Deloitte Omnia and Deloitte Levvia.”
A core differentiator for Deloitte is ensuring Deloitte staff are trained in using these tools. While upskilling our workforce in this area is an ongoing project, we are investing in learning and development for Audit & Assurance practioners so they have a greater understanding of how GenAI works and how it can be used effectively.
"We’ve also deployed PairD to all professionals, which is a bespoke GenAI platform and virtual helper,” explains Fogarty. “It’s an excellent example of pairing AI capability with our auditors’ professional skepticism and professional judgement. While AI can offer invaluable assistance and acts as a support system for our auditors, it can’t do everything. It will never replace human judgement, which is so critical for our clients right around the world.”
Fogarty also sums up the benefits this will bring: “It will allow us to merge data more quickly and effectively, to manipulate it more creatively, and to format it in ways that make the output easily interpreted. All this is to the benefit of our company, for certain, but it’s of even greater benefit for our clients.”
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