CAG building infra & processes to harness AI&ML: Sanjay Murthy

PTI New Delhi

India's apex auditor is building the necessary infrastructure and processes to harness artificial intelligence (AI) and machine learning for auditing processes and to audit AI applications themselves as the country aims to become a USD 30-trillion economy by 2047, CAG K Sanjay Murthy said.

Speaking at the World Forum of Accountants hosted by ICAI on Saturday, Comptroller and Auditor General (CAG) Murthy said a USD 30-trillion economy will be necessarily digital, as organisations expand into emerging areas, and global champions are born.

Accounting and auditing professionals will have to provide the required support.

"Adopting new technologies would help bring required efficiencies in the accounting and auditing processes. Taking a leadership role in developing and adapting innovative technological practices would also help Indian firms to become global champions," he said.

Underlining the key role of digital technology as a major enabler as well as disrupter, the CAG said the range of technological solutions that are now available have transformed the scale and potential at which organisations can achieve higher performance outcomes.