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AI use cases

Find out more about the variety of use cases for which artificial intelligence is being used in the accountancy and finance world, including generative and causal AI.

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Podcast

AI in audit: the good, the bad and the ugly

  • Podcast
  • 30 May 2024
  • ICAEW Insights
In this Insights In Focus episode, we discuss the use of artificial intelligence in audit.
Listen now

Videos: AI Masterclasses

Masterclass 1: Improving audit documentation
  • Article
  • 30 Oct 2024
Konrad Bukowski-Kruszyna ACA, Head of Audit Data Analytics, RSM UK explains how generative AI can be used for practice members to better understand and document a client’s sales process.
Masterclass 2: Setting better performance objectives
  • Article
  • 30 Oct 2024
Jenny Blewett FCA, Head of Finance at Costello Medical talks about how she uses generative AI to help her set performance objectives for her and her team.
Masterclass 3: Making audit sampling more efficient and effective
  • Article
  • 13 Nov 2024
Konrad Bukowski-Kruszyna ACA, Head of Audit Data Analytics, RSM UK outlines how generative AI can help members in practice ensure that audit sampling is being handled correctly.
Masterclass 4: Understanding differences in reporting standards
  • Article
  • 20 Nov 2024
Jenny Blewett FCA, Head of Finance at Costello Medical shows how she has used generative AI to help her transition from reporting under IFRS to UK GAAP.
Masterclass 5: Moving from Excel to Power BI formulas
  • Article
  • 30 Oct 2024
Jenny Blewett FCA, Head of Finance at Costello Medical explains how she used generative AI to help her move data from Excel to Power BI to give senior management a very different view of debt risk.
Masterclass 6: Reviewing control processes
  • Article
  • 31 Oct 2024
Jenny Blewett FCA, Head of Finance at Costello Medical talks about how she used generative AI to help check her firm’s banking controls when she was new in post.
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AI in accountancy

AI use cases: eight ways AI can help
  • Article
  • 29 Oct 2024
AI can be used for a variety of tasks to assist accountants in business and practice. Here are eight ways in which AI can help increase productivity and efficiency in finance and accounting teams.
AI: It’s only as good as the data you feed it
  • Article
  • 30 Oct 2024
Without a well-managed body of subject-specific data at its core, an AI tool in your firm will not be able to help your clients properly, an insolvency practitioner explains.
How AI is blazing a trail in ESG reporting
  • Article
  • 08 Mar 2024
Businesses are seeking the aid of artificial intelligence to drive efficiencies in their ESG reporting work – but users should be aware of some crucial caveats.
Audit quality drives search for AI tools
  • Article
  • 15 Nov 2023
Creating a space for firms to trial, test and fail will be critical to advancing AI in audit, says MHA partner Andrew Moyser, who was a keynote speaker at this year’s ICAEW annual conference.
AI boost to KPMG tax offering
  • Article
  • 09 Mar 2022
A partnership with software company Blue J will give KPMG a competitive edge by using artificial intelligence to free up more employee time to dedicate to complicated tax issues.

Causal AI

Read about how the iEARTH's solution uses causal AI to combat modern slavery.
How we applied AI to combat modern slavery
  • Article
  • 10 Jun 2024
The iEARTHS project is a causal AI system designed to tackle modern slavery. David Wray, ICAEW member and one of its creators, explains the considerations that went into its development.
Combating modern slavery: when Gen AI isn't enough
  • Article
  • 20 Jun 2024
Following his introduction to the iEARTHS’ artificial intelligence (AI) solution, David Wray discusses why causal AI was chosen over generative AI and how the team tackled bias and hallucinations.
Diving deeper into the data for combating modern slavery
  • Article
  • 26 Jun 2024
The challenges around understanding what the data does or doesn’t tell us is a major factor in making AI work effectively. In the latest in his series, David Wray looks at getting data right and how causal AI might aid in offering decision-useful options.
The role of ethics within AI to combat modern slavery
  • Article
  • 05 Jul 2024
We complete our iEARTHS miniseries journey through an ethical lens. The ethical risks and challenges are real and require thoughtful reflection to protect what really matters: vulnerable individuals.

Generative AI

Case study: ICAEW’s generative AI powered chatbot - MiaPlus
  • Article
  • 03 Jun 2024
Adam Thompson, Head of Digital Product & Experience at ICAEW, shares how ICAEW have implemented generative AI to improve member experience while using conversational chatbot MiaPlus.
Just what is an AI co-pilot? A practical guide
  • Article
  • 23 Apr 2024
A new generation of digital assistants are promising accountants enhanced speed, accuracy and efficiency, but will they live up to the hype?
PwC adopts AI co-pilot for tax support
  • Article
  • 15 Mar 2024
AI assistant will provide support to more than 2,000 PwC employees in the UK, with further potential to plug directly into clients’ tax functions.
Exclusive A practical application of AI: Building a Technical Director GPT
  • Article
  • 27 Mar 2024
Dudley Gould, VP of Business Development at Circit, explores how ChatGPT can be used to build a customised technical GPT and discusses how and when accountants and auditors might use generative AI.
Deloitte launches co-pilot PairD
  • Article
  • 19 Jan 2024
With the introduction of its own tailored version of a co-pilot, Deloitte is just one of the Big Four firms expanding their use of the technology to boost innovation and efficiency.
AI Copilot takes flight to save auditors time
  • Article
  • 26 Oct 2023
Fuelled with cutting-edge generative AI, new software aims to add dramatic efficiencies to lease accounting – enabling professionals to focus on higher-value decision making.
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Training

Innovating finance with AI
  • 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.
Generative AI for finance
  • eLearning module
Explore predictions where generative AI could disrupt finance, the value these solutions could deliver and the impact this could have on workers across finance.
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.
How to get started with AI
  • eLearning module
Understand the next steps to take on your journey to explore artificial intelligence and cognitive computing, and begin to think about the opportunities for your own organisation, through this video in our eLearning module.
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Free elearning on AI

ICAEW members can access four elearning modules examining AI, including Gen AI, its application and impact on the finance profession.
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