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AI already having a big impact on business, says PwC expert

PwC is using artificial intelligence throughout its business, said Nowson.

Gitex, Gitex Technology Week

Speaking as part of an Ai Everywhere session at yesterday’s show, Dr. Scott Nowson, artificial intelligence lead at PwC Middle East shed light on the importance of AI and its adoption.

“The impact of AI is everywhere, it’s in all our lives. AI is impacting us in little ways through the virtual assistants on our smartphones, while reaching into industries, such as manufacturing and healthcare. We need to be more aware of AI,” Nowson said that PwC uses AI across its business and its clients’ businesses. “PwC is classically known as an audit company, we have invested a lot in AI for finance capabilities,” he revealed.

PwC recently launched Cash.AI, a tool that is able to automatically read, understand and test client documents, including reported cash balances, bank reconciliations, bank confirmation letters, foreign exchange and financial condition of the bank – in essence, the complete audit of cash.

“We are invested... because people trust our brand, [to be ] responsible with AI and help companies understand the best ways to use AI - from inception to deployment. It’s pivotal to know how you are going to use AI and the manner in which it is going to impact people’s life. AI needs to be used for the good and benefit the society.”