Industry forecasts suggest that the adoption of GenAI tools is set to become nearly ubiquitous within the next three years. Credit: LookerStudio/Shutterstock.

A survey from CareersinAudit.com has indicated a rise in the adoption of GenAI tools within the audit and governance sector, with 53% of workplaces having incorporated these technologies into their daily operations.

Despite this uptake, nearly half of the sector has not yet embraced GenAI, primarily due to a lack of knowledge and understanding, according to the survey report.

The survey targeted audit and governance professionals to gauge how AI is being integrated into their organisations and their perspectives on the technology.

While a majority have adopted GenAI tools, 39% of the professionals from the remaining 47% who have not, identified insufficient knowledge as the key barrier to implementation.

Amongst the GenAI tools available, CoPilot emerged as the frontrunner, with 38% of the respondents utilising it.

ChatGPT followed at 28%, while a combination of other tools, including LLMs, Gemini, and GitHub, were used by 23% of the respondents. Custom-made tools accounted for the remaining 11%.

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Industry forecasts suggest that the adoption of GenAI tools is set to become nearly ubiquitous within the next three years.

The rate of adoption is expected to vary by region, with North America currently leading at 39% for AI usage in financial reporting.

CareersinAudit.com director Simon Wright said: 鈥淕enAI tools have had a huge impact on not only workplace productivity but our daily lives in general over the past few years.

鈥淚t鈥檚 intriguing to see how AI has affected the audit and governance industry, in particular, how widespread the use of the technology has become. The fact that lack of knowledge and understanding is the main reason companies are holding back on implementing AI suggests that if the training needed is rolled out, in a year鈥檚 time we could be looking at a much higher percentage.

鈥淚t is clear there is a huge appetite to adopt GenAI tools in the audit and governance sector, it’s simply a matter of educating staff and employers on how to harness it.鈥�