New tools leverage Protiviti’s AI expertise, enabling the firm to advise clients on this rapidly emerging technology and improve efficiency
Protiviti recently introduced ProtivitiGPT, a custom-built firmwide internal generative AI based application to enhance the development of cutting-edge business solutions. The application has been made operationally available to all Protiviti employees after establishing internal governance and guiding principles. Additionally, comprehensive training programs will up-skill employees’ understanding and usage of Artificial Intelligence to enhance value of client engagements, drive operational efficiencies, and connect information and insights to best serve our clients.
“Protiviti has been advising clients on implementing AI into their business for many years,” said Cory Gunderson, Protiviti’s Chief Operating Officer and Executive Vice President of Global Solutions. “Because of this expertise and the rapid evolution of generative AI as commercially viable technology, Protiviti has been addressing business problems with innovative solutions. Implementing our own use of generative AI internally is accelerating our ability to address our clients’ AI-based needs.”
Innovation in Action
Protiviti’s approach leverages leading-edge AI components to help clients improve processes, drive new business opportunities and increase competitive advantage.
Recently, Protiviti introduced an AI-ML based solution with a global manufacturer to improve its financial and operational processes in responding to pricing spikes, increased scheduling lead-time and port backups. Manual processes gave limited visibility into how the company could effectively predict future ocean freight cost increases.
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The solution afforded ongoing model training that gave the client control over its data for more efficient applications. With this foundation in place, the Protiviti team built lane-specific, low-error predictive models that provided insights into future ocean freight cost trends and risks used for network optimization, significantly improving the client’s ability to adapt to rapid changes in both processes and cost analyses.
“We have seen the advent of generative AI at broad scale increasing client interest in AI-based solutions at unprecedented pace, with AI-based solutions being adopted by Protiviti clients at four times the pace of 2023,” said Christine Livingston, Protiviti Global Leader, Artificial Intelligence. “As clients seek to engage AI for innovative and transformative applications, we’re recommending a holistic approach to deploying and managing AI that balances the opportunity and risk of AI.”
Governance Guides Appropriate AI Use
Creating AI solutions often goes hand-in-hand with effective governance development and implementation. Protiviti’s expertise in risk management, controls and governance is frequently requested to help clients identify potential risks and recommend AI guidelines and policies. In one instance, Protiviti worked with a multinational hospitality company to establish a comprehensive AI governance approach to address emerging risks before creating its AI solution.
Protiviti conducted a thorough analysis of the client’s existing information security and technology environment, then partnered with the client to develop a customized AI governance approach. This comprehensive governance standard gave the organization the control and comfort it needed to move forward with its AI initiatives.
Source: PRNewswire