Big Four Firms Embrace AI Assurance Tools to Address Client Concerns

The Big Four accountancy firms—Deloitte, EY, and PwC—are developing a new AI audit system to create a revenue stream and meet increasing client demands for assurance on AI effectiveness. This initiative aims to enhance consumer trust and industry investment in AI products. Deloitte’s Richard Tedder emphasized that assurance over AI is crucial for its widespread adoption. PwC UK is preparing to launch its AI assurance services soon, while EY UK is still in development. The economic potential of AI for the UK is projected at £200 billion, with small and medium enterprises (SMEs) poised to contribute significantly. Despite the optimism, many businesses feel pressured to invest, and a significant portion lacks a clear AI strategy. Trust in AI remains low, with only 42% of the public showing confidence in it, and many have not received formal training. London aims to position itself as a global hub for AI innovation and investment.

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