Applying the lessons to future technologies
While cognitive technology is currently the largest area of interest for many businesses, several other emerging technologies are making their impact felt, or are poised to increase in importance in the coming years.
The approach we have used to describe the issues and responses to cognitive technology can be applied to other emerging technologies – even those not yet invented.
The approach can be summarised as:
- Research the technology and its key features.
- Consider the risks posed by the technology, both directly and in how it affects the wider business process environment.
- Review how design and controls can mitigate the risks surrounding the technology.
- Determine how assurance might fill in the shortcomings of design and controls to reduce risk to an acceptable level.
Some issues are common to any technology in a risk context, for example, the need for appropriate technical knowledge on the assurance team, or the possibility for automation of any kind to reduce traditional business control.
Discover more about the impact of artificial intelligence and other cognitive technologies:
- Artificial intelligence and the future of accountancy.
- AI in Corporate Advisory.
- What does AI have to do with finance?
- How AI is changing the roles in accountancy.
- How to make AI work for your business.