Deloitte Wins 2021 'Digital Innovation of the Year' at The Digital Accountancy Forum and Awards 2021

NEW YORK, Nov. 5, 2021 /PRNewswire/ --

Key takeaways

1. Deloitte Omnia's Trustworthy AI Module is a comprehensive and structured framework and enabling technology for establishing effective verifications and control tests for responsible innovation.
   
   
2. Omnia's Trustworthy AI Module identifies model biases and cyber vulnerabilities to help organizations assess whether their AI meets trustworthy and fairness standards. The module tests, measures, and reports whether AI algorithms meet Deloitte's proprietary criteria for Trustworthy AI: fair and impartial; transparent and explainable; clear about responsibility and accountability; safe and secure; robust and reliable; and protective of privacy.

Omnia's Trustworthy AI Module, Deloitte's unique artificial intelligence evaluation technology, has been recognized as 'Digital Innovation of the Year' at the Digital Accountancy Forum and Awards 2021 in London earlier this week. This marks the second consecutive year Deloitte has garnered top honors for delivering innovative and disruptive technologies by The Accountant and International Accounting Bulletin. It also marks the fourth time Deloitte has won the award overall.

Omnia DNAV, a digital cloud-based solution that revolutionizes the audit of securities and investments, was honored with the award in 2020. Deloitte won the 2018 'Audit Innovation of the Year' for its audit-transforming Cortex data platform and in 2015 for functionality using artificial intelligence that quickly identifies, extracts, and analyzes information across an entire population of documents.

The rapid rise of AI, its transition from an efficiency tool to a strategic business imperative, and the rush by companies to capitalize on the benefits of AI and its enormous potential exposes the broadening parameters of risk associated with AI. Moreover, it underscores the need for robust governance and oversight in AI development, implementation, and operation to be on par with internal controls over financial reporting.

"This year's International Accounting Bulletin award underscores our commitment to continuous improvement, as demonstrated by our purpose-driven investments in technology and our people. Our unique combination of experience and evaluation technology enables organizations to move confidently into new application areas and business models that tap into the full potential of AI," said Jon Raphael, National Managing Partner — Digital Transformation & Innovation, Deloitte & Touche LLP.

Deloitte Omnia's Trustworthy AI Module offers organizations a unique combination of experienced professionals with an objective perspective, along with a framework and enabling technology for establishing effective verifications and control tests for responsible innovation — and protection for customers, stakeholders, citizens, and society — while scaling AI for long-term value and differentiation.

"While scaling AI to generate long-term value, organizations need to stay ahead of and mitigate expanding AI risks. Omnia's Trustworthy AI Module pushes the boundaries of innovation with technology that identifies model biases and cyber vulnerabilities to help organizations assess whether their AI meets trustworthy and fairness standards," said Brian Cassidy, Partner, Deloitte & Touche LLP and US Audit & Assurance Trustworthy AI leader.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 345,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte

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