Cetrom's Christopher Stark authored "How Accounting Firms Should (and Should Not) Use ChatGPT" in CPA Practice Advisor on December 30, 2023.
By Christopher Stark, Founder & CEO, Cetrom.
ChatGPT ushered in a new era of automation in accounting (link goes to YouTube), for better or worse. While technology has made many content-based tasks much easier, questions remain about its accuracy and security.
This machine learning-powered chatbot with the GPT-3 engine at its core has captivated people’s attention with its rapidly evolving ability to interpret questions and commands to produce generally coherent natural-language responses. Within five days of its release in November 2022, more than a million people had given ChatGPT a spin. That number ballooned to over a hundred million users in less than a year, making it the fastest-growing application ever.
The AI has shown itself capable of composing everything from college essays to copywriting. ChatGPT waxes philosophical in intriguing user exchanges and has even won art contests. In finance and accounting, early adopters have seen the potential of language-based AI interfaces to create scripts and formulas and draft responses to clients.
The best to come from this early AI boom for the public is mostly time-saving mechanisms. It’s also raised intriguing questions, and perhaps more worrying ones, about the future, especially for professions whose labor could be replaced by more polished AI language models with greater capabilities.
This article will better explain how your accounting firm should (and should not) use tools like ChatGPT.
Read the full article here.