{"id":113348,"date":"2023-07-06t11:58:48","date_gmt":"2023-07-06t15:58:48","guid":{"rendered":"\/\/www.g005e.com\/?p=113348"},"modified":"2024-08-27t17:02:01","modified_gmt":"2024-08-27t21:02:01","slug":"ai-systems-just-for-accounting-in-development","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/07\/06\/ai-systems-just-for-accounting-in-development\/","title":{"rendered":"ai systems just for accounting in development"},"content":{"rendered":"

\"artist<\/a>what will bloomberg\u2019s gpt ai built for finance mean for accountants?<\/strong><\/p>\n

by hitendra patil<\/i>
\n<\/i>rise of the aiccountants<\/i><\/a><\/p>\n

bloomberg released a research paper detailing the development of bloomberggpt<\/a>, a new large-scale generative artificial intelligence (ai) specifically trained on a wide range of financial data to support diverse natural language processing (nlp) tasks within the financial industry.<\/p>\n

more: <\/b>three ways a.i. will take shape in accounting<\/a> | four ways to prepare for the ai era<\/a> | seven ways ai could change accounting<\/a> | who is better at accounting, ai or humans?<\/a> | talent shortage: ai neither the cause nor the remedy<\/a> | accounting profession to experience highest ai impact<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

according to bloomberg, \u201cthe team pulled from this extensive archive of financial data to create a comprehensive 363 billion token dataset consisting of english financial documents. this data was augmented with a 345 billion token public dataset to create a large training corpus with over 700 billion tokens. using a portion of this training corpus, the team trained a 50-billion parameter decoder-only causal language model.\u201d
\n
\nimagine how long it will take for a human being to grasp that volume of data!<\/p>\n

what does it mean for the ai industry?<\/strong><\/p>\n

could this trigger an era of domain\/industry-specific ai systems?<\/p>\n

generative ai large language models (llms) like openai\u2019s chatgpt and google\u2019s bard are all-encompassing generic systems that professionals may find not too specific to their industries.<\/p>\n

on the other hand, to create domain-industry-specific ai systems, the creators must have access to colossal volumes of industry-specific data representing nearly all situations that can occur in that domain\/industry. and the systems would need generic ai capabilities as well to ensure the interactions can be used by professionals as well as non-professionals.<\/p>\n

any entity with such industry-specific data will likely have deep pockets to create its own ai system to leverage that data. but the challenges of data biases cannot be ruled out, as one single entity with access to all types and sizes of businesses in an industry may be rare.<\/p>\n

the demand for ai programmers, data scientists and research professionals will definitely skyrocket.<\/p>\n

what could it mean for the accounting profession?<\/strong><\/p>\n

domain\/industry-specific ai systems can transform how \u201cusers\u201d interact with industry-specific data through artificially intelligent natural language queries. it is like a client asking a professional accountant a complex question, and the accountant uses expertise, experience and education to analyze the relevant financial data to answer the question.<\/p>\n

in other words, data-driven answers may not need an interpreter as much as such interpreters are required in the non-ai software world.<\/p>\n

now, relate that to the \u201cadvisory services\u201d opportunities in the accounting profession. relate that to the day-to-day most common questions small business owners ask their accountants. relate that to the usual tax questions people ask their tax preparers.<\/p>\n

no. it is not about the replacement of human expertise by ai. if you get paid to answer client questions rather than produce an outcome, then it will be a concern in the longer term. more likely than not, it is financially not too viable for any small to midsized accounting firm to be able to create ai tools to answer such client questions to reduce the time demand on their expert people. industry-specific ai tools are, therefore, likely to create more opportunities for experts to increase revenue from their expertise.<\/p>\n

while writing my new book, \u201crise of the aiccountants,\u201d i spent significant time researching, learning and understanding how ai systems are created, how they learn and work. three core ai concepts explained in my book stand out for the purpose of this post.<\/p>\n