AI is beginning to be used more frequently but is still not at a stage where it can be used without risk, hallucinating programmes are common with the technology and trusting it blindly can result in severe consequences.

For example, a barrister allegedly relied upon AI to cite case law to the High Court in May for it to be found the cases did not exist, resulting in the legal professional possibly being disbarred.

Just recently Sam Altman, CEO of OpenAI said: ‘People have a very high degree of trust in ChatGPT, which is interesting, because AI hallucinates. It should be the tech that you don’t trust that much.’

With many sectors, such as audit, beginning to implement AI into their systems the FRC’s guidance for auditors developed ‘outlines a coherent approach to implementing a hypothetical AI-enabled tool, and offers insights into FRC documentation requirements, all designed to support innovation across the audit profession’.

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