Yes it is possible, once an inspection has been returned to the Field Inspector desktop, to export inspection and coordinate data to a shape file using the FI "export to shape file" function. This shape file can then be imported into ArcMap for display or update. The export to shape file approach can be a good option for example, if you have purchased a device with greater accuracy and would like to update your existing GIS data. In other cases a direct update to a geodatabase might make sense.
