gen ai in accounting: epic transformation, or overheated hype?

cornerstone report: artificial intelligence 2024

accountants embrace ai. via moss adams

by 卡塔尔世界杯常规比赛时间 research

more 卡塔尔世界杯常规比赛时间: cornerstone research reports
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insights and implications

i. at a glance

  • impact: gauging the influence of generative ai on the accounting industry.
  • consequences: the new shape of accounting practices.
  • strategies: for accounting firms, regulatory bodies, and educational institutions.

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ai displacing more jobs in banking than other sectors

upskilling will be key to keeping staff.

by rick richardson
technology this week

according to citigroup inc., artificial intelligence (ai) will likely replace more positions in the banking sector than in any other. technology is going to transform consumer finance and make employees more productive.

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according to citigroup’s most recent ai assessment, roughly 54 percent of banking professions might be automated. ai technology has the potential to enhance an additional 12 percent of jobs within the business.

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accounting arc: exploring ai’s role in modern accounting

stringent ethical oversight and proactive regulation are needed as ai becomes more integrated into daily life.

accounting arc 
with donny shimamoto and liz mason
center for accounting transformation

in the latest episode of the accounting arc podcast, hosts liz mason, cpa, and donny shimamoto, cpa/citp, cgma, explore the evolving role of artificial intelligence (ai) in the accounting profession, focusing on both its transformative potential and the ethical challenges it presents.

more: accounting arc: unraveling the collapse of silicon valley bank | accounting arc: introducing accounting, reaction, comedy | harper & co. cpas: the perspective of a non-accountant is imperativemenlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |

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their conversation sheds light on the history of ai in accounting, the distinction between different types of ai, and the implications for professional ethics and regulatory standards.

“generative ai is different than machine learning, but machine learning has been in the accounting space for a long time,” says mason, the ceo and founder of high rock accounting. “our code of ethics should be considered at every point in time, and we need to understand the tech, review it, and manage it appropriately, making sure that we’re ahead of the regulatory environment and we’re advising on what it looks like for the future of our profession.”

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educators can benefit from new generative ai course

a teacher’s aide unlike any other?

by rick richardson
technology this week

many people focus on the potential benefits of generative ai for kids when considering its application in the classroom. still, teachers can gain as much, if not more, from the technology. google and mit responsible ai for social empowerment and education (raise) have launched a free google generative ai educators course to assist middle and high school educators in utilizing generative ai tools to improve their workflow and their students’ learning environment.

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the self-paced, two-hour course is designed to help educators leverage generative ai to save time on routine tasks. from email composing to adapting content for various reading levels, creating innovative evaluations and organizing activities around students’ interests, generative ai can streamline these processes, freeing up valuable time for educators.

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ai named the highest-paying in-demand tech skill for 2024

are your skills up to snuff? 

by rick richardson
technology this week

according to a january 2024 deloitte study of 100 business executives, nearly half, or 45 percent, of high-level executives indicate they are aggressively upskilling and training their work force in artificial intelligence. approximately the same percentage, 44 percent, state they are hiring for it.

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therefore, it should not be shocking that generative ai ranks first among the highest-paid it skills. this is supported by a recent study from the job search firm indeed, which determined that computer abilities have the largest impact on pay. according to indeed, a job’s salary was 47 percent higher when generative ai was listed as a required talent.
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chatgpt is getting humanlike memory

 

ai is about to get really personal.

by rick richardson
technology this week

as it gets better at remembering your preferences, interests and personal information, chatgpt is starting to resemble your most reliable assistant. it will even use these memories in subsequent conversations. a minor change like this might give generative ai a more human appearance and possibly open the door to general artificial intelligence (general ai), which would allow an ai brain to function more like the gray matter in your brain.

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the restricted test was published by openai in a blog post, wherein it was explained that the purpose of the test was to evaluate chatgpt’s (both the free and chatgpt plus versions) memory of your messages across all chats.
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