The era of Artificial Intelligence is here
"If you think that 2023 was crazy about artificial intelligence, wait what will happen in this area in 2024" - that’s the statement I recently heard in one of podcasts about technology and I totally agree with. AI isn't just a fleeting, overhyped fad that will disappear in a few months. It's a substantial and enduring trend. Right now not only that every tech giant is working on its own AI architecture but there are dozens of startups on the market that are building independent structures or developing new products and services based on the AI APIs.
This is a very broad topic, so let the AI speak for itself. According to Chat GPT-4 are the hottest trends in artificial intelligence in 2024:
- Advancements in Natural Language Processing (NLP): Building on models like GPT-4, 2024 was expected to see further advancements in NLP. This includes more sophisticated understanding and generation of human language, making AI even more intuitive and conversational.
- AI in Healthcare: The integration of AI in healthcare was anticipated to continue its rapid growth. This includes everything from drug discovery and personalized medicine to robotic surgeries and predictive healthcare analytics.
- Ethical AI and Governance: With AI becoming more pervasive, there was an increasing focus on ethical AI and governance. This involves developing frameworks and regulations to ensure AI is used responsibly, with an emphasis on privacy, transparency, and fairness.
- AI in Cybersecurity: As cyber threats evolve, so do the AI tools to combat them. AI's ability to predict and respond to cyber attacks was expected to become a crucial part of cybersecurity defenses.
- Augmented Reality (AR) and AI: The combination of AR with AI, especially in fields like retail, education, and entertainment, was expected to create more immersive and personalized experiences.
- Autonomous Vehicles: Continued advancements in AI were predicted to drive further development in autonomous vehicles, potentially leading to wider adoption and regulatory approvals.
- AI in Climate Change: AI's role in combating climate change, such as through enhanced climate modeling, resource optimization, and monitoring environmental changes, was anticipated to grow in importance.
- Quantum AI: Although still in its infancy, the intersection of quantum computing and AI was an area of growing interest and research, potentially leading to breakthroughs in processing capabilities.
- Edge AI: The deployment of AI algorithms directly on devices (edge computing) rather than in a centralized cloud was expected to expand, driven by the need for real-time processing and data privacy.
- AI-Generated Content: From art to music to writing, AI's role in content creation was predicted to become more sophisticated and widespread, raising questions about creativity, copyright, and authenticity.
As one can notice, AI is going to influence multiple living areas. However I would like to focus on aspects that are rooted in the organization operations, especially in auditing processes.
From the perspective of a digital product like Action Audit embracing the AI technology and utilizing its powerful features at some level is a must rather than a nice to have. At first operations like performing an audit, handling a corrective task or innovative idea evaluation may not look like a perfect object for AI transformation or enhancement. However, if you think about it more carefully, you will notice a sea of possibilities to improve current processes: predictive maintenance, nonconformities detection, innovation suggestions or automatic post-audit actions planning just to name a few.
It was only a matter of time when Action Audit will use the AI magic to enrich its functionality. And now it happens. We started with 2 cases related to performing audits and inspections:
- Corrective action suggestions after detection of a nonconformity.
- Nonconformities detection right from a photo taken during audit.
The first functionality is already in the test phase and will be available in January 2024. The other is in development and will be delivered in the first quarter.
Obviously the ultimate goal of bringing the AI functionality as well as all other new functions to the system is to create value for you - the Action Audit user. Although final benefits for your organization may be hard to estimate we, anticipate that using artificial intelligence to support and enhances organization’s audit processes will significantly improve operations in the following areas:
- Shortening audit duration: AI can analyze vast amounts of data at unprecedented speeds, significantly reducing the time required for data review and analysis. Incorporating artificial intelligence in the process allows for quicker decision-making and more efficient use of resources.
- Reducing ambiguity: Artificial Intelligence brings a higher level of precision and objectivity to audits. By employing sophisticated algorithms, AI can minimize human errors and biases, leading to clearer, more accurate audit results.
- Detection of more nonconformities: AI's advanced analytics and machine learning capabilities enable it to detect irregularities and nonconformities that might go unnoticed by human auditors.
- Seamless onboarding of less experienced auditors: AI can serve as a valuable tool for training and assisting new auditors. It can provide real-time guidance and support, helping them to understand complex audit processes quickly.
- Greater team members engagement: Incorporating AI into audit processes can lead to more dynamic and engaging audits. This not only improves the quality of the audit but also enhances the professional development of the auditors, as they are exposed to advanced analytical techniques and innovative problem-solving methods.
Wrong! That’s not our final word, at least not for utilizing of AI algorithms in the Action Audit web platform and mobile application. I truly believe that this functionality marks the another giant leap in the history of Action Audit development and sets path for making it the ultimate auditing solution.
Also, it’s important to remind that Action Audit is mostly driven by customers innovative ideas and change requests. That’s why I wanna encourage you to send any AI related ideas via helpdesk or directly to me.