SFP #85: Chatting about generative AI

Small Firm Philosophy

There’s been a buzz around artificial intelligence for years, but nothing like the swarm of interest generated by ChatGPT.

Microsoft-backed research laboratory OpenAI launched ChatGPT in November 2022. By January, the large language generative AI chatbot had attracted more than 100 million users, making it the fastest-growing customer software application ever – but far from the only one.

What makes ChatGPT so compelling and how does it compare to other generative AI chatbots like Google’s Bard? What tasks can generative AI handle for accounting firms and what precautions should CPAs take when using this technology? Hear the answers to those questions and much more from accounting technology expert Roman H. Kepczyk CPA.CITP, CGMA, in this episode of the Small Firm Philosophy podcast, produced by AICPA & CIMA’s Private Companies Practice Section (PCPS) in partnership with the Journal of Accountancy.

Things you’ll learn in this podcast:

· How generative AI is different from personal assistants like Siri or Alexa.

· How a lawyer got himself in hot water after using ChatGPT-4

· Where accountants can expect to see AI tools tailored for them

· What Google’s Bard does better than ChatGPT

· What accountants should never do with generative AI

Also see:

· Getting onboard with ChatGPT safely (for PCPS members)

· Writing advanced Excel macros with ChatGPT-4 (JofA)

· Can ChatGPT answer your clients’ questions? (JofA)