To use AI or not? That is the question for accounting and audit firms looking toward the future. There is a lot of fear, uncertainty, and doubt regarding the availability, adoption and use of artificial intelligence-based systems. There is even some misleading information within the broader community of accounting and audit tools. Read more
Most companies know what ethical behavior is, but many still aren’t good at practicing what’s preached in corporate mission statements and HR policies. Headlines filled with insider trading, bribery, sexual harassment, and customer deception remind us how difficult ethical behavior is to enforce. Could advanced technologies, including artificial intelligence (AI), finally help companies solve an
An Ottawa startup that is using artificial intelligence to transform how auditors and financial regulators unearth fraud and irregularities has secured $29.6-million in venture capital and government funding. Read more
A wide range of claims and news can be found online, from the technology “not being ready” to vendors declaring that AI is already within their tools. Ultimately, firms must decide when to invest in AI, or rather, which AI-enabled tool provides the best return on investment. Read more
MindBridge Analytics has received $14.5 million from the federal government to help support a “first-of-its kind” $140.8 million project the Ottawa-based company is currently developing. The government funding comes alongside a new $15.1 million venture capital round that was led by PeakSpan Capital and saw participation from Real Ventures, National Bank of Canada, The Group
Garbelman Winslow CPAs is evidence that you don’t have to be a large firm to have big aspirations with cutting-edge technology. The Upper Marlboro, Md.-based practice, which has a total of six CPAs and 15 employees, is using artificial intelligence (AI) to identify high-risk transactions as part of its auditing process. Here’s what the firm
In his book, The Fourth Industrial Revolution, founder and executive chairman of the World Economic Forum, Klaus Schwab, states that a shift will occur when 30 percent of corporate audits will be conducted by AI, which 75 percent of people surveyed expected to happen by the year 2025. It’s already underway, with the Big Four
The internet and cloud technologies transformed the workplace. Similarly, AI will refine, reshape and even replace many of the tasks we do every day. Till now, technology transformations mostly made tasks faster or easier. AI is going to be different. Let us understand how AI can be effectively deployed for the accounting workforce. It is
Artificial intelligence is more than some notion from a faraway future. The technology has arrived, and some in the industry say Ottawa is poised to become the next “AI hub.” From guided missile technology to public consultations improvements, AI work is well underway in the capital. Read more
The AI revolution is currently on its way, creating numerous challenges and opportunities for both organizations and employees alike. This leads to a compelling and important question: How can we thrive in this new industrial revolution? To help find the answer, I recently spoke with Eli Fathi, CEO of MindBridge Ai, an award-winning audit solutions
Artificial intelligence is no longer just the stuff of Philip K. Dick novels and 70s sci-fi films. The robots are coming. In fact, they’re already here. And Canada is poised to be the next global leader in AI innovation and AI ethics. Read more
It’s hard to read the news or scan social media without some mention of artificial intelligence (AI). It’s all around us and already affecting many aspects of business and our daily lives. From voice assistants on mobile phones to self-driving cars, AI plays a vital and evolving role in how we understand and interact with
