Big Four accountancy firms poised to enter burgeoning AI Assurance market
03/06/2025 | Financial Times
The Big Four accountancy firms are actively developing a new audit service designed to verify the effectiveness and safety of artificial intelligence (AI) tools. Hoping to capitalise on growing demand and establish a new revenue stream, these companies are leveraging their reputations from financial audits as they prepare to launch AI assurance services. These services will assess whether AI systems, such as those in self-driving cars and cancer detection programmes, perform as planned, without unintended consequences, and comply with regulations. The initiative builds on past successes in providing environmental, social, and governance (ESG) assurance and aligns with moves within the insurance industry to offer coverage for losses caused by malfunctioning AI tools.
The article highlights that AI assurance is "critical" for AI adoption, as companies and consumers seek verification for AI managing critical functions like health or finances, particularly in assessing accuracy and bias.
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