The proliferation of artificial intelligence (AI) in the past year has been breathtaking. Adoption of generative AI tools alone has exceeded the pace of any technology in human history. As is often observed, AI presents both risks and opportunities for the world – including for our profession: internal auditing.
In June, I published a simulated interview with ChatGPT to illustrate just how powerful and insightful such tools can be. In response to a question I posed about whether AI could replace internal audit, ChatGPT observed:
“AI has the potential to automate certain tasks performed by internal auditors, but it is unlikely to completely replace them. Internal audit involves not only data analysis but also critical thinking, judgement, and understanding of organizational dynamics. While AI can assist in processing large volumes of data and identifying patterns, human auditors bring contextual knowledge, professional skepticism, and the ability to make informed judgements that consider ethical, regulatory, and strategic aspects. The role of internal auditors may evolve with AI adoption, focusing more on higher-value activities like risk assessment, advisory services, and enhancing governance processes.”