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Big Four firms race to develop audits for AI products

Accounting groups hope to emulate previous profit gains from audits of companies’ ESG metrics
Audit firms hope demand for the new AI assurance services will be buoyed by the need for greater trust in the technology

Big Four accountancy firms are racing to create a new type of audit that verifies the effectiveness of artificial intelligence tools as they seek to profit from clients’ demand for proof that their AI systems work and are safe.

Deloitte, EY and PwC told the Financial Times that they were preparing to launch AI assurance services as they hope to use reputations gained in financial audits to win work assessing whether AI systems, such as those in self-driving cars and cancer-detecting programmes, perform as intended.