Compliance professionals at top 10 firm Grant Thornton will now be making use of the newly-enhanced CompliAI platform, which has gone from a largely spreadsheet-driven classic automation solution to one infused with generative AI from end to end to streamline and enhance service delivery.
The platform uses advanced AI capabilities, including GenAI Assistants and a GPT Model Series to automate key tasks such as risk and control rationalization, question and procedure generation, and document request list creation. For example, it will suggest questions for the professional to ask, and based on the answers, generate additional followup questions and tasks. The software also features a suite of tools, including dashboards, task management, in-app commenting, notifications, a methodology document library, and a centralized file repository. This is so professionals can conduct tasks in minutes that would have traditionally taken days or weeks.
Mike Kempe, chief information officer of Grant Thornton Advisors, noted that beyond efficiencies, another major intention with this solution was to create a more consistent experience for their clients. Different professionals approach things in different ways, both in and out of the accounting world, and so the client experience can vary widely depending on who is working on an engagement at a given time. It is hoped that this new platform can smooth out some of that variation so clients can get a better idea of what to expect.
“We’re providing a better service to our client and a much more consistent one as well because we’re no longer relying on the quality of individuals, we’re relying on AI… In the past, the issue was that if I was providing a service I would do it one way, and [if] John was providing the service, he would do it a different way, so clients would get inconsistent quality. With this, we increase the quality, and it’s going to be much more consistent,” he said.
Paradoxically, though, he believes this will actually serve to create a more, not less, personalized experience for clients. By using AI to get through the routine processes that the accountant would ordinarily be doing themselves, they have more time and energy for close collaboration with the specific client and so can take on a more strategic role in compliance engagements.
“Our professionals right now [are focused] on how to use AI and on building that relationship with the client and making this a much more personalized service than we have had in the past,” he said.
The newly-enhanced CompliAI platform is just one more step in GT’s wider AI ambitions. Kempe said they plan to replicate this approach across many more service sectors. The firm has a roadmap for at least five more AI-based solutions released over the next year and a half as part of its vision to incorporate the technology throughout its numerous practice areas. When pressed on the particulars he declined to be too specific, but said people can expect many different solutions.
“There’s a lot of productivity solutions that we’re building at the moment, and we’re working with our partners and some startups as well [to roll it our internally.] There’s a couple more AI solutions in the audit space as well as in the tax space that we’re currently working on… But suffice to say, we’re investing heavily. We’re on a very significant roadmap to put AI into everything we do. That’s our mission,” he said.
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