How Artificial Intelligence May Impact the Accounting Profession

The rising popularity of artificial intelligence (AI) has made many CPAs feel unsure about the ways in which their profession may be affected. There are already some tedious tasks that AI can help humans complete, such as summarizing longer documents for ease of reading. As AI technology improves, many professionals are looking for other scenarios where AI would be a useful tool. By running several test prompts through ChatGPT 4.0, this article highlights the ways in which AI can assist accountants in their daily workflow, while pointing out the ways in which it falls short.

Author: Ariana LoBianco, Kevin Jialin Sun, PhD, CFA and Xin Zhao, PhD