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AUDITING GenAI SYSTEMS: ENSURING RESPONSIBLE DEPLOYMENT

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Abstract

The emergence of generative artificial intelligence (GenAI) systems, capable of autonomously generating diverse content, is reshaping industries while raising concerns about biases, misuse, and errors. Auditing can play a crucial role in ensuring the responsible deployment of GenAI. This discussion examines the critical importance of auditing in mitigating risks and building user confidence. Recent regulatory frameworks, such as the E.U.’s Artificial Intelligence Act and New York City’s Bias Audit Law, underscore the necessity of audits for high-risk AI systems, focusing particularly on fairness and data integrity. Internally, organizations benefit significantly from conducting audits to pinpoint biases and vulnerabilities, thereby upholding ethical standards and compliance. Traditional audit ¬ rms encounter challenges due to the intricate nature and rapid advancement of AI technologies. Nevertheless, they can adapt by enhancing their expertise and collaborating closely with AI specialists. In conclusion, rigorous auditing practices are essential for navigating regulatory environments, mitigating risks, and ensuring the ethical and dependable integration of GenAI systems, fostering positive societal impact.

Suggested Citation

  • Krause, David & Krause, Eric, 2025. "AUDITING GenAI SYSTEMS: ENSURING RESPONSIBLE DEPLOYMENT," Journal of Financial Transformation, Capco Institute, vol. 60, pages 20-27.
    • Handle: RePEc:ris:jofitr:3479
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    Keywords

    Auditing;

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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