The increasing complexity of governance, risk and compliance, or GRC, often leaves internal audit teams caught up in manual processing, preventing them from taking on more strategic roles in the business. Enterprises are in need of a connected risk platform to automate busywork and raise productivity.
To address this demand, AuditBoard Inc. is integrating new artificial intelligence capabilities, including its new Accelerate offering, to speed up the auditing process. The aim is to unify all risk data and insights, according to Happy Wang (pictured, left), chief product and technology officer at AuditBoard.
AuditBoard’s Anton Dam and Happy Wang talk with theCUBE about the company’s plans for a connected risk platform.
“Our goal is really to use AI technology to help to get rid of the work no one wants to do and really level them up,” Wang said. “That’s called empowerment. Everyone wants to see themselves as strategic … The way you elevate them is to give them a smart task and automate all the manual work.”
Wang and Anton Dam (pictured, right), vice president of engineering for data, AI and machine learning at AuditBoard, spoke with theCUBE’s Rob Strechay and Rebecca Knight at Audit & Beyond, during an exclusive broadcast on theCUBE, News Media’s livestreaming studio. They discussed how integrating AI into risk workflows is enabling internal audit teams to drive more impactful business outcomes.
Advancing the connected risk platform with AI
AuditBoard’s AI capabilities build on the successful introduction of other features, such as intelligent recommendations and issue summarization, with Accelerate taking integration into the day-to-day workflow even further. A crucial component of this is a robust evaluation framework for auditability, according to Dam.
“Every single thing that happens — every action, every record, every recommendation — before it gets entered into the system of record either gets approved by a human or through a process,” Dam said. “Nothing happens without the user.”
Under pressure to do more with lean teams, many GRC functions are testing agentic AI to handle multi-step, document-heavy tasks while keeping humans in the loop for approvals and audit trails. That’s the backdrop for AuditBoard’s approach: A specific moment in a longer-term push to link siloed risks across the business, Wang explained.
“I want AuditBoard to be able to achieve this connected risk [platform],” she said. “For me, risk is no longer isolated. There are a million types of risk… They connect together.”
Here’s the complete video interview, part of News’s and theCUBE’s coverage of Audit & Beyond:
(* Disclosure: TheCUBE is a paid media partner for the Audit & Beyond event. Neither AuditBoard, the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or News.)
Photo: News
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