what accountants need to know today.
by sandi leyva
chatgpt is a game-changing technology for accounting and tax professionals. if you haven’t already tried it, you’re missing out on potentially significant efficiencies for your firm. like any technology, it has some pitfalls you must be aware of. but that shouldn’t stop you from at least seeing what all the fuss is about.
more chaptgpt here
here’s a 12-item checklist to get you started on chatgpt:
- start by breaking your luddite habits: instead of calling customer service reps, use chatbots when available.
- if you are a digital immigrant, listen to and get the help of your digital native employees. find out what they know about generative ai; get their ideas on how it could be integrated into your firm.
- inventory your tech stack to see what ai you’re already paying for. you might be surprised that generative ai and other ais are already at home in your firm. are you using the ai features? get an employee started learning this aspect of the software, or call your vendor rep and schedule a training class.
- sign up for a chatgpt account (free version) at openai.com and play around with it. don’t enter any client or confidential firm information, and know that the answer can sometimes be wrong until you learn how to word prompts or input effectively.
- attend an accounting conference and talk with the ai vendors in the exhibit hall.
- take a course on chatgpt. and be advised: one course is not enough. new features are coming out monthly, if not weekly. a few cpe providers, including us (see below), have started to cover this topic.
- talk with your attorney to understand the risks for the firm.
- connect with your professional insurance vendor to see what advice they have.
- considering ethics issues, decide on the usage boundaries for you and your firm.
- read the terms and conditions of all software products you use with generative ai features. really. especially about copyright and privacy. and read them again if you haven’t in the last month. new terms and conditions go into effect jan. 31, 2024, with openai announcing its copyright shield.
- work with your it head to determine an ai strategy for the firm. understand and communicate the boundaries of this thing that are right for your firm.
- make a list of ai opportunities and get started on at least one of them.
almost all of the accounting leaders i talk with say the same thing: there will be accountants who embrace ai and get ahead, and there will be accountants who don’t and fall behind. it’s another learning curve; we’re very good at learning in this profession.
