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Welcome to the IA on AI Podcast, part of the Audit Podcast Network, where we bring you weekly updates on AI from the internal auditor's perspective. Here we go. This first story is from a newsletter that I highly recommend. It's an AI newsletter called Superhuman. It's a daily summary of everything that's going on, kind of AI wise. Most of it's geared more towards the market as opposed to any kind of internal audit reference. So sometimes they do pull stories from here and then try to give you the perspective from internal audit. That's largely what the show's about. So I'm going to read from the one from October 30th and a lot of folks probably heard about this. Multiple companies, including Amazon cut. Well, Amazon specifically cut 14,000 corporate jobs. In that announcement, they specifically cited AI as one of those Chegg also decrease their workforce, it says, by 45%. And they cited new realities posed by AI. So I think this is where a lot of the fear is coming from. Everyone sees this coming to a degree. But in the newsletter from October 30th it goes on to say, but experts aren't buying it. There's a real tendency to overreact to individual company announcements because everyone is so freaked out about AI. That's an actual quote from someone. That's from Martha Gimble from Yale's Budget Lab. It also says that they believe that the recent layoffs point to company specific hiring practices and economic cycles. And so from Yale's Budget Lab, they've tracked market data since 2022 and notes that a lot of companies cutting jobs today went on massive hiring sprees during the pandemic when interest rates were near zero. And now that borrowing costs have surged, they're trimming back and AI makes for strong positioning. So it wraps it up saying the truth probably lies somewhere in the middle. Indeed. So the hiring platform. Indeed. Their AI at Work Report 2025 found that as of today, AI can only replace about 0.7% of nearly 3,000 job skills. So it's likely a mix of. Yep, there's probably some being replaced with AI and some are due to these hiring cycles that folks went on from 2020. With that said, there is still some that are being replaced or displaced. And so we are going to continue to suggest everyone to stay atop their AI literacy and figure it out. The other announcement I think most people are going to be more excited about is from Microsoft. So this is from their website from October 28th. Microsoft 365 Copilot now enables you to build apps and workflows. So you've probably seen some similar tools like this that were not part of Copilot. Basically you have Copilot and you can talk to it and it'll build an app for for you. It'll also build workflows for you. This is one of those where if you have access to it, I would highly recommend maybe at the time of listening this, you don't have time on Thursday or Friday to do it, but block off an hour at some point this week, next week, whenever you can find it, block off an hour, jump in there and just play with it and see what it's like. See where you might be able to utilize it, go through your backlog of AI use cases or analytics use cases, whatever it may be a combination of those typically, and see where you might be able to apply some of this new functionality. On the risk side, this is really no different than people using Excel. So any individual control that has a lot of Excel use, where maybe they've been using a lot of formulas or something, I think we all know the risk in that and how that can be pretty problematic. Well, now we have these individual apps that can be built and so how are we going to audit these individual apps that someone might develop to execute on a specific part of their control or a workflow even? So, I think that's the takeaway from this week. Thank you for listening and be sure to follow the link to greenskiesanalytics.com in the show notes and schedule time to see how green skies can make the hype of AI a reality in your internal audit department.