Accounting has just received its first crowd-sourced study focusing on the ChatGPT AI chatbot and its effects on education. Conducted by David A. Wood, a professor at Brigham Young University, the research brings together 327 authors from 186 universities in 14 nations and is believed to be the first of its kind in the accounting field.
During the study, professors submitted their own questions and data on their students’ performance and asked ChatGPT to answer the same questions. The total data pool included more than 28,000 assessment questions. On average, human students outperformed the chatbot, but notably, ChatGPT performed better on questions related to accounting information systems, analytics, technology, and audits. The AI also benefitted when partial credit was awarded and when textbook test question banks were used.
Despite these findings, in no case did the chatbot beat human student averages more than 28 percent of the time. This is still significant, as the results of the study help to highlight the potential impacts of AI on accounting education. It is important for faculty to ensure their students are both prepared to operate within an AI-based workplace and kept aware of the potential for AI to be used for cheating on work or exams.
The research, titled “The ChatGPT Artificial Intelligence Chatbot: How Well Does It Answer Accounting Assessment Questions?,” has been accepted for publication by the American Accounting Association’s Issues in Accounting Education.
The American Accounting Association has been at the forefront of accounting research and publications since its founding in 1916. With a diverse array of members and supportive network, their purpose is to continue to design and shape the future of the accounting profession.
Thomas Kriebernegg, Managing Director & Co-Founder at App Radar, was one of the many participants in the study. In an interview with AiThority, he speaks of the importance of this research and the need for educators to be prepared as AI technologies become more widespread.
Brian Sathianathan, Co-founder and CTO at Iterate.ai, was also featured in an AiThrity interview. He says that AI technologies are evolving so rapidly that students and professionals need to be aware of the changes and how to adapt in order for them to be successful.
It is evident that research such as this study is an important step in the process of educating for the future. As AI continues to become more influential in the accounting field, educators and professionals will need to be prepared to work effectively with this technology.
