Analytics – Walk before Running?
We’ve mentioned the “leapfrog effect” here before, where firms or even entire economies skip straight to advanced technologies without implementing or mastering those that came before. In what could be viewed as a counterpoint to predictions about the rise of AI, an opinion piece on Forbes.com suggests that “With many organisations still struggling to embrace data, analytics is still an area that all companies need to address before diving into artificial intelligence”. In other words, leapfrogging not recommended.
While we are keeping a very close watch on AI, especially as it pertains to the audit function, we can’t help but agree. With so much high quality structured data becoming available, there’s still a lot of ground to be gained in more “traditional” types of analytics and definite possibilities for significant automation and digitisation even without the application of AI. Read the article.