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The Audit Podcast
Ep 222: The Best Advice about AI
Dec 31, 2024
This week features Michael Pellet, Director at Lyft, who champions data expertise for auditors but downplays the need for AI specialization. The conversation dives into how AI can revolutionize audit processes, with experts like Badal Patel discussing innovative AI tools. There's a critical look at the interplay between AI and inflation from Ben Phillips, and Julio Tirado stresses the importance of responsible AI. Richard Chambers even shares tips on enhancing workflows using ChatGPT. A treasure trove of insights for modern auditors!
27:30
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Podcast summary created with Snipd AI
Quick takeaways
- Utilizing tailored AI tools enhances audit efficiency by quickly identifying patterns and improving accuracy beyond traditional methods.
- Auditors must focus on data governance to ensure quality data management, as its integrity is critical for effective AI applications.
Deep dives
AI Tools in the Audit Process
Utilizing AI tools significantly enhances the efficiency of the audit process. Audit analytics leader at a major tech company emphasizes the importance of applying specific technology tailored to the task at hand rather than allowing technology to dictate the process. Data analytics can quickly identify patterns and exceptions in large data sets, improving the accuracy of audits beyond traditional methods. Generative AI can assist in predicting future risks and refining reports, creating a more streamlined audit procedure that emphasizes relevant insights.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode