technology

humans beat ai in some aspects

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… but not all. what that means for the profession.

by hitendra patil
rise of the aiccountants

a research study by the american accounting association evaluated the performance of chatgpt on accounting-specific content.

more: why accountants should embrace artificial intelligence | ai brings opportunities for accountants | seven things you must know about ai
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the study was conducted by a team of 327 coauthors from 186 educational institutions worldwide, who entered 25,817 assessment questions and evaluated the accuracy of chatgpt’s responses.
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seven steps to keeping your clients forever

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two businessmen shaking hands at a restaurant table

bonus: you’ll probably see more revenue from them, too.

by sandi leyva
the complete guide to marketing for tax & accounting firms

it’s far less expensive to keep your existing clients happy than it is to find new clients, especially since the trust factor between people is at an all-time low.

more: ten ways to make your business irresistible | eleven ways to serve clients even better | eight ways to build busy-season stamina | make your prospect kit stand out | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals?
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so you might want to think about redirecting a portion of your marketing attention on your existing client base instead of networking for new clients.

i’ve met a lot of business owners who have trouble getting their employees to sell while they’re on-site, and i’ve also heard from some customers who’ve remarked that their vendors don’t stay in touch with them. so here are some tips to mine the pot of gold that lies right before you: your current clients who already trust you and are eager to hear about new solutions that will ease their pain and problems.
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how to leverage chatgpt in advisory work

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learn the language of commands and prompts. and check the math.

by sandi leyva

the generative ai model chatgpt, developed by openai, has been out for over a year. yet, roughly half of the accounting professionals taking my chatgpt webinars haven’t found the time to try it out yet. in this article, i want to give you a sneak peek into just one of the many tasks chatgpt can perform for you to shorten your day potentially.

check out our courses on chatgpt,
offered as a deep discount bundle or separately.
webinar schedule:
more chaptgpt here

let’s say you have a client with some advisory questions. they want to know the answers to the following four questions based on sales data for a particular period:

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telehealth advances with ai-powered clinics

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patients can perform their own tests, draw their own blood, and more.

by rick richardson
technology this week

soon, you will find at a nearby mall, fitness center or office building an artificial intelligence-powered standalone doctor’s office where you, the patient, take your vital signs and draw your blood.

more: windows is now an app for iphones, ipads, macs, and pcs | study: solar will lead global energy by 2050 | fcc approves superfast wi-fi tethering | bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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several tech-driven initiatives, such as telehealth and concierge medicine, are upending the typical yearly physical. around the nation, a business called forward is setting up carepods, hoping people will routinely visit them for specific issues and preventative care.

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your chatgpt checklist: get started with generative ai

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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:

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windows is now an app for pcs, apple products

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the most widely used office software is now more convenient.

by rick richardson
technology this week

microsoft has created a windows app for ios, ipados, macos, windows and web browsers. the application effectively transforms the old windows 365 app into a central location for accessing microsoft desktop services, azure virtual desktop, windows 365, microsoft dev box and streaming a copy of windows from a distant pc.

more: study: solar will lead global energy by 2050 | fcc approves superfast wi-fi tethering | major websites blocking content from ai crawlers | printer ink: not just expensive, but a blatant scam? | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try
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microsoft supports device redirection for peripherals such as webcams, storage devices and printers, as well as configurable display resolutions and scaling. these features are accessible through its windows app. the preview version of the windows app isn’t currently available for android, though.

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ai brings opportunities for accountants

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the profession will reap some of the greatest impact.

by hitendra patil
client accounting services: the definitive success guide

openai, the creator of the wildly popular artificial intelligence (ai) tool chatgpt, conducted a research study with the university of pennsylvania. it identified the occupations with the most significant impact potential because of large language models (llms, like chatgpt). among the occupations with the highest exposure to ai are accountants, auditors and tax preparers!

more: seven things you must know about ai
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what does it mean?

1. to quote some (edited somewhat for more straightforward reading) of the essential notes from the research:
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give to receive, and eight more ways to boost sales

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confident businesswoman handing man a business card in networking session

these tips work for referrals, too.

by sandi leyva
the complete guide to marketing for tax & accounting firms

networking is an essential part of building your business.

whether you network locally, nationally or internationally, there are some tips that are common to all businesses:

more: five ways to target the low-hanging fruit | eight ways to build busy-season stamina | make your prospect kit stand out | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news
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1. be crystal clear about what you do and how people can use you. also know exactly who your ideal client is in case you’re asked. if you don’t do this, you’ll leave people scratching their heads about you and they won’t know how to connect with you even if they want to.
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seven things you must know about ai

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be serious, not amused.

by hitendra patil
rise of the aiccountants

unless you live under a stone, you would have heard about all the craze chatgpt has created recently. and most likely, you, too, are amused by it.

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an artificial intelligence-powered tool, it is one of the first that allowed people to directly interact with ai in a familiar way how we use chat functions on mobile phones and websites. this ease of access and usage gave it a huge fan following. moreover, it triggered a tsunami of new ai tools emerging all over the internet.
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study: solar will lead global energy by 2050

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are green energy sources now more economical than fossil fuels?

by rick richardson
technology this week

according to a recent study, solar power, also called photovoltaics or pv, is expected to overtake all other power sources globally by the year 2050. the analysis shows that even in the absence of extra climate legislation, the change is likely to happen, yet at least four obstacles might impede solar energy’s growth and guarantee the continued use of fossil fuels.

more: fcc approves superfast wi-fi tethering | bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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“historical policy to stimulate solar pv has brought down costs. we’re now at the point that a virtuous cycle between cost declines and additional deployment doesn’t require more ambitious policies targeting solar anymore,” says study team member femke nijsse, a climate and energy systems researcher at the university of exeter in the uk. “more ambitious policies for other renewables [are] still needed.”

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new energy comes from new ways of doing business

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two women having business discussion in front of laptop; wall of windows in background

one idea: a client service coordinator.

by tamera loerzel
the rosenberg map survey

editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?

while everyone is cautiously watching the economy, client needs and demand for accounting and advisory services continues to increase. firms have to figure out how to run their practices differently to be available to do more with clients, help them solve problems, and make the shifts they need to make, too.

more: outsourcing, remote work will help firms grow capacity, revenue | ‘great shakeup’ in cpa firms on the way | pe, consolidations to keep impacting accounting profession | soft skills are front and center | it’s time for a new business model
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while 2023 busy seasons may have been “better,” a lingering fatigue continues. firm leaders who are focused on new ways of doing business, staffing and serving clients will find relief and the ability to focus on important initiatives in their firms. and empower young partners and managers to try new things and lead change initiatives. they can see what’s possible and will make it happen.
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five things that clients don’t know about accountants

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number 5 drawn in sand

we have to remember to offer this information.

by sandi leyva
the complete guide to marketing for tax & accounting firms

i’m pretty sure that i am not the only accountant who has made the following mistakes with clients. here are a couple of ideas to help us remember what we know that the client doesn’t and why it costs us when we forget.

more: are your revenue projections realistic? | make your prospect kit stand out | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals? | generative ai: should you avoid it or adopt it? | want better clients? here’s how | get your name in the news | four ways small firms can beat large ones
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1. clients do not know how to evaluate our technical skills.

if you need to hire an accountant, chances are you don’t know a lot about accounting. it just follows that you’re not going to be perfect at hiring an accountant. as accountants, we need to remember that it’s not our technical prowess that gets us the job because the client has no way of evaluating that piece.
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ai for accounting automation will be significant

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cybersecurity remains a concern.

by roman kepczyk
the rosenberg map survey

editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?

positive optimism: barring an even larger international political crisis in the next 12 months, the opportunities within the accounting profession for firms both providing traditional compliance services and those that have expanded into advisory practices will simply be phenomenal! from a technology perspective, the evolution of artificial intelligence capabilities within accounting applications for process automation will be the most significant trend and while there will be a lot of early hype, good solutions will be able to prove themselves out fairly quickly.

more: private equity leading to corporate-style cpa firms | pe, consolidations to keep impacting accounting profession | a 40-hour workweek is feasible | five ways staff shortages are changing firms forever | soft skills are front and center | it’s time for a new business model | rosenberg map: partner incomes surge 11.4%
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watch for what microsoft does with copilot and integrated virtual assistance within excel, outlook, their edge browser and, in particular, microsoft teams. then start watching what individual accounting profession applications start integrating virtual assistance tools for tax research and projections, audit work program assistance, and use of tools to acquire and analyze accounting data and reporting, and the breadth of practical opportunities will start to unfold.
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