Managing AI bias: Key risks and mitigation strategies

Accounting and financial services firms are adopting artificial intelligence (AI) into their operations to improve organisational efficiency and accuracy.

CPA Australia’s Business Technology Report 2025 found that 89 per cent of business used AI in 2025. However, it also found that only 16 per cent of businesses use AI widely across their organisations.

AI has many applications including data analytics and insights, fraud detection, risk assessment and financial reporting.

However, it does not come without risks — and one of the major issues is algorithmic bias.

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