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AI-driven solutions empower auditors to adapt to ever-changing environment: CAG Murmu- 20-Mar-2024
New Delhi: Comptroller and Auditor General of India Girish Chandra Murmu on Wednesday said AI-driven solutions empower auditors to adapt to an ever-changing environment and deliver actionable insights that drive informed decision-making.
Speaking at an MoU signing ceremony between CAG institution and IIT, Delhi here, Murmu said AI-powered tools have the potential to automate routine tasks, liberating auditors to focus on strategic analysis and value-added activities, thereby elevating the quality and relevance of audit outcomes.
"Together, we have the opportunity to shape a future where AI serves as a catalyst for positive change, empowering auditors, and organizations to unlock new insights, drive informed decision-making, and create value for the nation," he said.
The MoU was signed by Anand Mohan Bajaj, Chief Technology Officer and Additional Deputy CAG and Rangan Banerjee, Director, IIT Delhi in the presence of the CAG of India.
Murmu further said Government of India has made huge strides in adopting AI for governance and is on track to become the global hub for AI Innovation as the chair of Global Partnership on Artificial Intelligence (GPAI) in 2024.
"By harnessing AI-driven algorithms and predictive analytics, auditors can analyze vast volumes of data with unparalleled speed and precision, enabling them to uncover patterns, anomalies, and potential risks with greater accuracy," he added.
Through the MoU, the two institutions would collaborate in four key areas for use of AI in audit, audit of AI systems, capacity building and knowledge sharing.
Bajaj said the AI equipped audit processes will not only enhance the efficiency but would also provide greater assurance to the public vis-a-vis the performance of the government.
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