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Managing the risks of AI

Artificial intelligence offers many opportunities, but finance professionals must also consider how to manage the potential risks and ethical challenges the technology brings.

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Generative AI Guide

Risks and limitations of generative AI

The potential for generative AI is immense, but there are risks that accountants should be aware of when deciding to adopt generative AI. Existing approaches to tech strategy and wider governance principles, practices, and processes may not be completely suitable for generative AI and may need adapting and strengthening.
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Articles

Why patchy regulation is a challenge for AI
  • Article
  • 21 Mar 2025
In a fascinating recent round-table event, ICAEW members explored a host of issues around how the UK regulatory landscape should best address companies’ use of artificial intelligence.
Masterclass 8: Preparing to interview senior executives
  • Article
  • 11 Mar 2025
Jannie Wentzel, Partner and Principal Consultant, Cential and a chartered accountant explains how he uses generative AI to prepare for senior-executive interviews as part of his work in providing risk advice.
Masterclass 7: Drafting a risk register
  • Article
  • 07 Mar 2025
Jannie Wentzel, Partner and Principal Consultant, Cential and a chartered accountant explains how he uses generative AI to solve the ‘blank page problem’ when he’s tying to create a risk register.
National efforts to build cyber resilience and secure AI
  • Article
  • 27 Feb 2025
This month's cyber round-up covers key information on recent policy developments and new initiatives in the UK focused on enhancing cyber resilience and securing AI. Learn more about how this will protect and support businesses, and what guidance is available.
How to navigate software platform migration
  • Article
  • 25 Feb 2025
Whether driven by cost, functionality, security or compliance, software migration is a complex process that requires careful planning. ICAEW highlights key considerations for practices and businesses looking to migrate.
Cyber security: outlook for 2025
  • Article
  • 30 Jan 2025
Cyber resilience is a key concern for governments, with many exploring ways to address the cyber threat and promote national resilience. What is the outlook for 2025?
How to guard against voice cloning and deepfake scams
  • Article
  • 15 Jan 2025
As voice and image fraud becomes rapidly more sophisticated, Cyber Security Professor Oli Buckley outlines the current state of the problem and provides some countermeasures.
Exclusive Artificial Intelligence and radical uncertainty
  • Article
  • 02 Jan 2025
Most human beings are fundamentally anxious about uncertainty. The adoption of AI has created significant uncertainty – to the extent many refer to it as the 4th industrial revolution.
More AI articles

Recordings

Don’t be manipulated – AI, fraud and what can my organisation do
  • Webinar
  • 09 Dec 2024
The fraud landscape is evolving rapidly with it being the most experienced act of crime, accounting for over 40% of all crime across the UK.
Guarding against the AI cyber crimewave
  • Podcast
  • 18 Oct 2024
In this episode of Behind the Numbers, we discuss how the use of new technologies by criminals is putting businesses at risk.
More AI recordings

Reports

Ethics and AI
  • Report
  • PDF (1,006kb)
In 2024, ICAEW’s Trust and Ethics Team hosted roundtables on shaping guidance for the accountancy profession on the ethical use of artificial intelligence. Read an overview of the discussions, offering insights into real-life use cases and the risks that must be managed.
Risks and assurance of emerging technologies
  • Thought leadership report
Cognitive and automation technologies such as artificial intelligence (AI) have drawn a great deal of interest, but also concern about the potential for bias and misuse. ICAEW’s Tech Faculty examines the risks associated with the adoption of emerging technology and how these risks can be tackled through internal controls and assurance.
Internet of things and accounting
  • Thought leadership report
  • PDF (312kb)
To find out how businesses and accountants are approaching this powerful new technology, we partnered with the Shanghai National Accounting Institute and Inspur to talk to IT, operations and finance professionals across China, which is playing a leading role in the development of the IoT.
AI in Corporate Advisory
  • Report
  • PDF (2,199kb)
The impact of artificial intelligence (AI) on finance and business will be profound. The Corporate Finance Faculty has been tracking the application of AI to ‘big data’ in corporate transactions.
More AI reports

Training

Innovating finance with AI (Virtual)
  • Course
A guide to digital technologies and their impact. This immersive course empowers accountants with strategies to implement key technologies like automation, AI and advanced analytics.
Understanding AI and cognitive computing
  • eLearning module
Learn the essentials about artificial intelligence and cognitive computing through this e-learning module. It covers the three areas where this technology is most relevant and beneficial for finance, as well as common misconceptions.
Introduction to generative AI
  • eLearning module
Generative AI has the power to transform the way we work, learn and interact with technology. Discover what generative AI can do, how it works and how it differs from 'traditional' AI.

Further resources

Resources
Artificial intelligence
Artificial intelligence

Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession. Access articles, reports and webinars from ICAEW and resources from tech experts.

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Generative AI Guide

Explore the possibilities of generative AI in accounting through ICAEW's guide to Gen AI, covering use cases, risks, limitations, ethics and how to get started.

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Events
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Technology events

ICAEW's events programme brings together leading industry speakers across practice and business. Connect and network with your peers while keeping up to date with the latest developments in technology.

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