As businesses grow faster with artificial intelligence, the audit must leave behind compliance-focused silos and embrace strategic collaboration. To this end, a new era of AI-powered risk intelligence has well arrived.

At its simplest, risk intelligence means common definitions across the enterprise, paired with one place to pull insight. The payoff is practical: quicker time to value, smarter insourcing and clearer governance. When everything lives in a singular view, oversight becomes streamlined from key performance indicators to the key risk indicators, according to Erin Banet (pictured, left), chief audit and risk officer of Humana Inc.

AuditBoard’s Justin Greenberger and Humana’s Erin Banet talk with theCUBE about the implications of AI-powered risk intelligence.

“I think connected risk is key — having everything interconnected and in one space so everybody can see and pull data and analyze through KPIs and KRIs,” she said. “Previously, we had a bunch of different platforms that weren’t pulled together. It’s time savings — and savings overall — having it all in one place.”

Banet and Justin Greenberger (right), chief customer officer of AuditBoard Inc., spoke with theCUBE’s Rob Strechay and Rebecca Knight at Audit & Beyond, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed the bravado behind AI-powered risk intelligence for audit teams. (* Disclosure below.)

AI-powered risk intelligence turns number crunchers into strategy heroes

AuditBoard’s own maturity model puts collaboration at the center. Entry-level positions cut the manual work and get clear analytics on the company’s structure, while those higher on the curve exercise emotional intelligence for critical decision, according to Greenberger.

“When we have AI and automation, there’s going to be more placed on emotional intelligence and strategic thought,” he said. “The groups that have already started that collaboration and have committees around this we see at the far end of the maturity curve.”

With AI surfacing everywhere in the business, and embracing it isn’t optional — but it can’t outpace governance. At the very highest level, leaders have to set the tone on AI in the audit sector, Banet explained.

“As leaders, we should be helping our teams learn to grow and see the value of AI … with the appropriate controls and governance in place,” she said. “It’s a balancing act between doing the innovation and having the right level of governance as well.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of Audit & Beyond:

(* Disclosure: TheCUBE is a paid media partner for the Audit & Beyond event. Neither AuditBoard, the sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE