We could be standing at a turning point where audit can help provide businesses with game-changing insights and a confidence and trust model through the use of artificial intelligence (AI).
The information age challenges our ability to consume and understand the increasing amounts of data created every day. It’s likely that the pace of data creation will only increase, leading to a deeper pool of information that if effectively consumed, analyzed and understood by the audit process, can lead to a higher quality audit.
Source: Accounting Today
In the near future, as artificial intelligence (AI) systems become more capable, we will begin to see more automated and increasingly sophisticated social engineering attacks. The rise of AI-enabled cyberattacks is expected to cause an explosion of network penetrations, personal data thefts, and an epidemic-level spread of intelligent computer viruses. Ironically, our best hope to defend against AI-enabled hacking is by using AI. But this is very likely to lead to an AI arms race, the consequences of which may be very troubling in the long term, especially as big government actors join the cyber wars.
Source: Harvard Business Review
Google (Ticker: GOOGL) has developed their own custom chips named Tensor Processing Units or TPU’s capable of taking advantage of their own similarly named machine learning framework called TensorFlow. The chips are purported to be 15-30 times faster than typical GPU/CPU builds when crunching data using machine learning algorithms as well as more power efficient. Google has no intentions in marketing the chips outside of their own data centers but expects others to build upon their research in the future. The link to the TechCrunch article is below.