Use of Artificial Intelligence Techniques in the Implementation of Audit Tasks Research Paper

Technologies alter the modern world and introduce radical changes to all spheres of human activity. The scientific progress and emergence of new devices triggered a reconsideration of old approaches and an establishment of new ones. They are characterized by the increased effectiveness, high output, and reduced input, which is vital for most organizations. For this reason, specialists look for new ways to integrate technologies and create a more digitalized environment with multiple options available for workers. Artificial Intelligence can be considered one of the most innovative solutions widely employed by different groups now.

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It combines features attractive for organizations, such as effectiveness, reduced mistake rate, and stability. These factors are also vital for the auditing sphere as it contributes to the increased accuracy of conclusion and other benefits. The paper outlines the central aspects of using AI in the field and possible issues associated with its employment.

Definition

Artificial Intelligence is a complex and generalized term that is used to describe a unique technology. It presupposes building machines capable of simulating human thinking and intelligence to perform complex tasks unbailable and unresolvable by other devices (Rochwerger & Pang, 2021). In other words, it is a computer or software possessing some features of a human being with the ability to analyze the situation and make conclusions.

The availability of relevant and credible data is one of the basic demands for the stable functioning of the technology and the absence of critical mistakes (Moroney, 2020). Another vital characteristic of artificial intelligence is the ability to rationalize and offer strategies having the best chances of achieving the existing goal (Moroney, 2020). It helps companies to acquire a competitive advantage and avoid failures because of better planning and strategic analysis.

AI is closely linked with another concept that becomes fundamental today. Machine learning is a case of using AI to provide systems with a chance to automatically learn and evolve using the new experience generated during previous decision-making sessions (Shapiro, 2020). It does not presuppose additional programming or any other interferences, as AI with machine learning is capable of collecting and accessing data, its analysis, and structuring, which helps to improve future solutions and avoid mistakes. The benefits of machine learning include the increased autonomy, fast development, and applicability to various cases and environments (Shapiro, 2020).

Under these conditions, AI acquires the chance to carry on complex and human-like tasks, which offers a wide variety of options for its further implementation. Regarding the audit sphere, using AI is nowadays one of the trends leading to improved performance and better results.

In such a way, the fast spread of the technology and increased attention to it can be explained by the applicability and the opportunity to generate additional benefits. AI is viewed as the alternative to outdated methods that are not relevant today as it can learn and become more effective over time (AICPA, 2020). Furthermore, the growth of AI correlates with the constantly increasing availability of information and the rise of Big Data (AICPA, 2020). The term describes large and diverse sets of knowledge growing at ever-increasing rates (Moroney, 2020). The ability to analyze and process it is vital for the work of modern companies. For this reason, AI, with multiple opportunities for better data processing, is viewed as the potent measure to align the effective work of units and avoid failures or using irrelevant information.