Will Audit Be Taken Over By Artificial Intelligence?

“Artificial Intelligence (AI) is here, Audit work will be finished. Auditing shall be taken over by AI.”

Let’s look back at history:

• Industrial Revolution will come and Machines will take over all the jobs, people will become unemployed.
• Computers will come and all jobs will vanish. Computers will do the work of humans.
• Sophisticated tools like excel will come and there would be no need for accountants and analysts.

But was it true?

 In my view, technology has always aided human beings provided you adapt to the changes.

The role of experts shall be modified to designing tools that prevent and detect any frauds with the help of AI, thereby increasing the scope of new fields like forensics. Way of Auditing might change.

There is no substitute of Human Mind. Artificial Intelligence cannot equate Human Intelligence in my view, that’s why it’s called ARTIFICIAL Intelligence.

The day it does, the Age of Ultron will not only be a problem for audit but for the entire human race :)