Exploring the Potential of ChatGPT-like AI in Internal Audit(2)--Summarization

The ability to summarize was once considered a key skill for a successful internal auditor. My initial thoughts on AI summarization pertain to efficient minute preparation for various audit interviews. Conversations can be transcribed into text through a computer program. By feeding the transcript of meetings into ChatGPT, meeting minutes can be completed in seconds with accuracy of about 90%. This will allow auditors to save a significant amount of time and energy.

To my surprise, Microsoft has progressed even faster than I anticipated. After investing billions in OpenAI, the company behind ChatGPT, Microsoft has officially made Microsoft Teams Premium available. Teams Premium uses the same technology behind ChatGPT, enabling users to fully automate the process of taking meeting notes and generating related tasks and actions.

Although I haven't used Teams Premium yet, it's easy to predict the game-changing potential of this development in the years to come. However, this also means that internal auditors who previously held a competency in taking notes and preparing summaries may see a decline in their value to some extent. This underlines the significance of maintaining a high level of professionalism even more.

Here's a 100-word summary of today's news, generated by ChatGPT in just seconds: