The Impact of AI on Fraud Investigations: What Forensic Accountants Need to Know

While generative AI systems like ChatGPT have gained the most fame, other AI that can assist in fraud prevention and detection are also rising in importance. These AI systems are rapidly making a transformative impact in the world of financial fraud investigations.

When used properly, artificial intelligence has proven to help automate processes to improve the speed, efficiency, and accuracy of complex fraud investigations. Innovations in the rapid development of AI are transforming how fraud is detected and investigated, and as a result, forensic accounting has seen significant growth in AI implementation. An estimated 60% of forensic accounting companies already use AI-powered tools to investigate fraud.

Valid8 spoke with three experts about this quickly evolving technology to explore the growing impact of AI in forensic accounting. From potential risks and limitations to ethical considerations and regulatory implications, here is what forensic accountants need to know about the growing influence of AI on the profession.

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