Big 4 Firm

Application or adoption of AI technologies

Deloitte Touche Tohmatsu Limited

In March 2016, Deloitte and Kira Systems forged an agreement to bring innovation and machine learning to the workplace. Deloitte then developed Argus, a cognitive tool designed exclusively for auditing, based on the partnership (Ucoglu, 2020; Zemánková, 2019; Kokina & Davenport, 2017) . Guided Risk Assessment Personal Assistant (GRAPA) is a Deloitte application that works with a database of 10,000 cases, each with roughly 50 risks, to aid auditors in comparing their selected risk strategy to other previously utilized risk methods (Zemánková, 2019) . Besides these, Deloitte is looking into using machine learning technologies to help with data integration and structuring (Kokina & Davenport, 2017) . Deloitte also wants to implement smart chatbots that will successfully guide staff through rules, law, auditing and accounting standards, and specialized literature (Deloitte, 2018) . In addition to these Audit applications, Deloitte has been implementing AI technologies in other branches of their operations as well that include—Similarity Observant Network Analytics Report (SONAR) dedicated to finding labelling errors in databases and supporting the Tax and Legal operation, smart robot named Edgy, that has application for robotics-based automation within HR, a self-learning application called DocQMiner that can read through and analyze contracts and has application in the Risk Advisory services, a state-of-the art AI tool called Eagle Eye that uses the web for early detection of credit migrations, a smart tool called BrainSpace that is used in Financial Advisory Services to cluster unstructured information. Deloitte has also created the Insight-Driven Organization (IDO) framework to assist businesses in achieving their strategic objectives. Deloitte has also developed a voice analysis tool called the Behavior and Emotion Analytics Tool (BEAT) that uses deep learning technology to monitor and analyze voice interactions (Zhang et al., 2020) . Some other technology solutions that put Deloitte in a special position include—Deloitte Signal, Deloitte Optix, Deloitte Connect and I-count (Bizarro & Dorian, 2017) .

Ernst & Young

EY uses machine reading (e.g. QR codes and barcode labels). Drones are also used by EY for inventory observation and real-time analysis (Zhang et al., 2020; Zemánková, 2019) . Whenever new regulations are issued, instead of re-examining all pre-existing contracts EY uses NLP to extract information and a human-in-the-loop to validate the results. This is an application of NLP technology by EY. EY Helix GL Anomaly Detector (GLAD) is a tool developed by EY that is capable of using its algorithm to detect fraudulent journal entries and furnish reasons for such detection (Ucoglu, 2020; Zemánková, 2019) . EY has also implemented machine learning technology to detect fraud in order to boost professional productivity. Using machine learning, EY’s Fraud Investigation and Dispute Service (FIDS) was able to identify questionable invoices with a 97 percent accuracy rate.

Klynveld Peat Marwick Goerdeler (KPMG) International Limited

KMPG views artificial intelligence as an entire ecosystem and therefore has developed the KPMG Ignite concept which is a portfolio of AI products and capabilities. The accounting firm works in collaboration with Microsoft to provide clients with integrated innovation such as—Intelligent Underwriting Engine, Sales Intelligence Engine, Sales Cycle Optimization Tool, Strategic Profitability Insights, and Digital Solution Hub etc. (Zemánková, 2019) . KPMG is a proponent of adopting a broad set of AI capabilities using one single platform. In that regard they have used IBM’s cognitive computing technology called Watson (Kokina & Davenport, 2017; Greenman, 2017) . KPMG has also developed a new method of risk assessment. To detect, link, and depict four-dimensional risks (severity, likelihood, interconnectivity, and velocity), KPMG’s Dynamic Risk Assessment (DRA) integrates actuarial theory, complicated algorithms, mathematics, and advanced data with analysis (Zhang et al., 2020) . The “Tax Service” solution from KPMG can prepare VAT and corporate income tax returns automatically, as well as local additional tax calculation tables, trend analysis, and quick detection of any errors, risks, or abnormal conditions (Huang, 2018) . KPMG developed K-analyzer, a tax analytic program based on RPA technology that can assess thousands of transactions in a span of minutes (Zhang et al., 2020) . Besides these, KPMG uses—Payroll Tax Automator tool, Automatic Exchange of Information (AEOI) reporting tool, FBT Automator etc.

Pricewaterhouse Coopers

PricewaterhouseCoopers (PwC) offers a wide range of data and analytics solutions, both industry-specific and cross-industry. By employing RPA technology to collect data, PwC determines the filing status of all the entities, review their trial balance sheets and finally convert data into tax bases (Zhang et al., 2020) . Because of its capacity to cut costs and refocus attention on tasks that provide value and job satisfaction, RPA can have a big influence on a Tax organization. RPA technology is also simple to implement and works with all financial systems and processes (PwC, 2017) . PwC has created the GL.ai robot in partnership with H2O.ai, a Silicon Valley firm, to integrate AI technology into accounting practice. GL.ai uses machine learning (ML) technology to absorb PwC’s global knowledge and experience, stimulating the thinking process and making conclusions in the same way that an experienced auditor would (Zhang et al., 2020; Zemánková, 2019) . PwC also created another technology called the Cash.ai that automates cash audits, including cash balances, bank reconciliations, bank confirmation letters, foreign exchange, and the bank’s financial health (Zemánková, 2019) . Besides these, PwC successfully leverages Natural Language Generation (NLG) by implementing AI power engine Quill developed by Narrative Science. Automated narratives for anti-bribery and anti-corruption (ABAC) reporting have also been developed by PwC (Zhang et al., 2020) . Halo is used by PwC to analyze accounting journals, the majority of which is traditional human support-based business intelligence (Kokina & Davenport, 2017) .