Most accountants have experienced several technological revolutions: first, microcomputers and spreadsheets, and then the Internet and mobile devices. We are now entering a third major technological revolution spawned by the availability of Generative AI tools like ChatGPT and Microsoft Copilot. In this session, we will cover an overview of these technologies, including their opportunities and risks, along with ways they can and may be useful for accounting professionals. We will also look ahead at the frontier examples of the new developments for these tools on the horizon and some of the implications they present to organizations.
By the end of the session, you should be able to answer the following questions:
• What do the terms generative AI and large language models refer to?
• What is prompt engineering, and how do you write effective prompts?
• What are the key risks present when you use generative AI?
• What are some common use cases for generative AI for an accounting professional?
• What is Microsoft Copilot, and how is it related to ChatGPT?
• What is going to happen next with generative AI?