The future of analytics in the digital age: AI technology

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In the rapidly changing field of analytics, powerful AI technologies are changing traditional methods.

As emerging technologies and regulations reshape the field, many auditors find themselves faced with outdated processes and inefficiencies. The need for advanced technologies in modern analytics has never been greater, and artificial intelligence (AI) is at the forefront of this revolution.

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Emerging trends in Audit Intelligence Analyze

Thomson Reuters is pleased to introduce Audit Intelligence Analyze, the first in our premier line of AI-powered solutions designed to help professionals keep up with the ever-changing audit process.

Audit Intelligence Analyze is at the forefront of technology innovation, leveraging AI and machine learning to automate data analysis, improve audit efficiency and improve accuracy.

By seamlessly integrating into existing workflows, this state-of-the-art hardware solution allows inspectors to focus on high-risk areas, reduce manual labor, and provide superior customer service. . With Analyze, reviewers can:

• Review all transactions to focus testing procedures on high-risk areas and reduce work on low-risk areas.

• Create custom rules for each engagement to maintain full control over the review process.

• Automatically select samples and analyze test results using intelligent algorithms.

• Experience seamless integration into existing workflows with a seamless user experience and unique risk detection methods.

• Reduce the time spent on selecting samples and documents, improving the efficiency and quality of the analysis.

• Have better customer communication and data entry, ultimately providing better value.

How can AI-powered technology help analysts?

Audit AI-powered technology like Audit Intelligence Analyze is changing the industry by providing a number of benefits that improve the efficiency and effectiveness of audit processes. Let’s take a closer look at how these technologies can make a difference for auditors:

AI-driven technology automates interaction analysis, significantly reducing the time spent on sampling and detailed testing by 50%.

This automated process allows inspectors to focus their efforts on the most dangerous areas, simplifying the inspection process and increasing productivity. By better understanding the population, auditors can target their efforts more effectively, reducing unnecessary work and focusing on areas that need more attention.

One of the most prominent benefits of AI in academia is its ability to improve the quality of assessments.

AI technology has the ability to identify unusual transactions and automatically create the necessary documents. This capability improves the accuracy of inspections by catching things that might be missed by human inspectors. Accuracy brought by AI not only supports the reliability of test results but also builds trust in customers.

Reduction of manual labor

The implementation of AI technology in audit processes significantly reduces manual work for auditors.

By automating mundane tasks such as data entry and sample selection, AI frees analysts to focus on the more difficult and important aspects of the analysis. This change not only improves job satisfaction but also allows professionals to develop deeper expertise in key areas of financial analysis.

Focus and improved customer service

With AI handling the mundane aspects of analysis, experts can devote more time and resources to providing strategic insights and improved customer service.

This ability to focus on high-quality work not only improves the quality of service provided but also positions the firm as a forward-thinking leader in the use of technology in testing.

Competitive advantage in the market