Assurance quality

Legacy methods

AI-based strategies

Use of statistical sampling provides a limited level of assurance.

Automated, regular insights based on full population sampling allows for a higher level of assurance.

Data analysis processes

Legacy methods

AI-based strategies

Traditional data gathering and analysis processes are manual, time-intensive, and onerous.

Processes are automated. Data is gathered using AI audit tools and analyzed against customized control points.

Audit results

Legacy methods

AI-based strategies

Audits are structured as a report card, measuring performance based on compliance with existing policies, procedures, and regulations.

Trends can be visualized more easily—including those that the human eye can’t capture—leading to value-added insights that improve agile decision-making.

Risk management

Legacy methods

AI-based strategies

Key risk indicators and patterns may not be as visible or may go unreported. Oversight on adherence to risk management policies can be more difficult to achieve.

Organizations can better predict and prepare for future risks, losses, and financial system stress by analyzing multiple data points and identifying potential trends or risk patterns.

Fraud prevention

Legacy methods

AI-based strategies

The ability to detect anomalies may be limited to individual systems or business units, and potentially long after an incident.

Irregular patterns and atypical activities can be detected more quickly, allowing for a more timely response.

Decision-making

Legacy methods

AI-based strategies

Hidden biases and time-intensive reporting may impede the ability to pivot and make necessary business decisions quickly.

Automated data insights can allow for live decision-making capabilities, as opposed to waiting for quarterly or annual reporting.

Business and revenue growth

Legacy methods

AI-based strategies

Data often exists in silos that are incompatible with each other. Business intelligence cannot be produced in a timely manner.

Data is centralized, allowing for timelier business intelligence that can inform product/service development, marketing campaigns, and operational efficiencies.