MindBridge Ai Auditor

“Artificial Intelligence: The Evolution that is a Revolution”

John Colthart (JC): VP, GrowthScott Rockefeller: Director, Sales

We’re a team of serial entrepreneurs and industry experts

Eli Fathi, CEO7th Start-Up

Sold previous venture to SurveyMonkeyWinner of 2016 Startup Canada Sr

Entrepreneur Award - Canada

Solon Angel, FounderFormer Product Manager of audit

analytics used by SEC, IRS, KPMG, AT&T and 100,000 users

Robin Grosset, CTOFormer Chief Architect of IBM Watson

Analytics. Sold previous venture to Cognos, which was acquired by IBM

Jim Fagan, Corp DevFormer Director at Canadian Bank Note.

Provided fraud prevention solutions to leading governments across North Amercia

John Colthart, VP Growth17+ years sales experience

Former IBM Watson Global Content Strategy Executive. Previous venture,

Clarity Systems, acquired by IBM.

John Craig, Solution Delivery20 years in working in technology industry and founding start-ups, extensive sales and marketing experience with an engineering

development background

AI … a personal story!

A Regular Kid

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The Big Ask for The Big Guy

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Things Were in Balance and Life was Good

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And She Even Did This

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AI is changing professions…including external audit

•Insurance: Intelligent Claims ProcessingProcess mining to identify bottlenecks and improve efficiency. Identify patterns of fraud. Build predictive underwriting models

•Legal: Paralegal Powered by AIROSS is an A.I. lawyer that helps human lawyers

research faster and focus more on advising clients

•Healthcare: Watson OncologyEvidence based treatment options learned from world renowned MSK experts. “like having a capable, knowledgeable colleague” working with every clinician

How AI & Machine Learning are changing many professions

WE ARE LIVING IN A DIFFERENT ERA

Manual1980’s

Computer1990’s

CAAT’s2000’s

AI/ML2015’s

Analytics &

Beyond

Ineffectiveness in DetectingErrors in Financial Data

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Outdated CAAT Tools

Sampling Practices

Subjective Audit Opinions

Limited Human Capacity

Big Data Challenges

Limited Coverage of Financial Audits

Undetected Errors

Increased Liability/ Financial Cost

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Our Mission: Uncover Material Irregularities in Data“Known vs. Unknown”

Source: Association of Certified Fraud Examiners, International Institute of Auditors

Rules Based Analytic Solutions What we see & know

~$200B annually

AI / Machine LearningFinancial loss due to human error or by intent is surging is ~$3T annually

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Source: Association of Certified Fraud Examiners, International Institute of Auditors

Machine Learning Comparison: A/B Test

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Rules Alone: Ranked Risk Score Machine Learning: Ranked Risk Score

“4 of 5 data points your system found were confirmed cases of fraud. Very impressive. Great job.” – GT

Recent Real-World Example:In 1.6M Transactions, flagged interesting transaction • Machine Learning 34th

• Rules ~31,000th

900X improvement

MindBridge AI Auditor: “The Solution”

• Uses Artificial Intelligence AND Machine Learning.

• Purpose built for Accounting industry and exceeding standards.

• Detects Anomalies, Irregularities, and Outliers in Financial Data that

are missed with the human eye or a rules based analytics solution

• An Extensible AI platform to support Audit & Assurance, Forensics,

Advisory Services, etc.

• Speed, Ease of Use, Granularity & Completeness

• Greater Insight, Cost Savings and Risk Reduction / Assurance

How MindBridge Ai Auditor Works

Smart Data Ingestion

Workflow Management

Control Points View

Dashboard View

Automated ReportsDetail View

Demonstration

Real World

What’s in it for me?1. Eliminated Over-Auditing2. New sample size = 100% of transactions vs. a subset3. MindBridge Ai Auditor assigns a risk rating to every single transaction = De-

risking the audit process and provide reasonable assurance things were not overlooked

4. Providing a more holistic, comprehensive audit = More meaningful conversations = Elevating my “Advisor” status

5. Streamline and reduce audit costs Cut to the chase more efficiently and effectively = JET alone saved 8-10 hours per

engagement Data ingestion alone saved 2 - 4 hours per engagement Saving 10 – 15 hours on each engagement Saving 25 – 50% on the Planning stage alone

5. Gain a competitive advantage over other firms6. Increase market share7. Attracting new and retaining existing staff

https://www.mindbridge.ai/ai-will-not-replace-auditors-but-auditors-using-ai-will-replace-those-not-using-ai/

The Time is Now - Embrace vs. Replace

1. Rally the troops and build consensus (i.e. talk to your teams about MindBridge)

2. Set call to talk through onboarding process

3. Roll up your sleeves and trial MindBridge

Next Steps

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Contact: Scott Rockefellerrock@mindbridge.ai

704-906-6246www.mindbridge.ai

For More Information or To Talk About Next Steps

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