According to research conducted by the American Accounting Association, students outperformed ChatGPT, the Microsoft-backed AI chatbot, in an accounting-specific exam. The evaluation was done by feeding the AI bot with more than 25,000 multiple-choice, true/false and short-answer questions from 187 institutions across the globe, and comparing the results with the test performance of the students. The findings of the study have been published in the journal Issues in Accounting Education.
The overall performance of students was recorded as 76.7%, while ChatGPT scored just 47.4% in the exam. The AI bot showed weaker performance in taxation, financial, and managerial assessments due to difficulties in incorporating mathematical process that are associated with the topics. ChatGPT also subtly failed in the true/false and multiple-choice questions, falling short in the short-answer questions. Moreover, the chatbot provided inaccurate answers along with accurate descriptions, thus proving to be ineffective in those tests.
In certain cases, the AI bot even provided fabricated references with its answers. And, in 11.3 percent of the questions, ChatGPT did surprisingly well in topics related to AIS and auditing.
The Microsoft-backed AI chatbot, ChatGPT, is backed by Microsoft and has been notable for its progress in various fields. It is created by OpenAI, which is a technology research laboratory backed by the Microsoft Artificial Intelligence. The OpenAI is focused on developing Artificial General Intelligence in a safe and secure way. As of now, the technology used by ChatGPT is mainly used in natural language processing, message automation, and other AI-driven applications. It’s also one of the first AI bots to be successfully implemented in a professional environment.
