ChatGPT is revolutionizing the accounting profession, allowing businesses to create AI-powered solutions for their customers in a fraction of the time and at a fraction of the cost. It gave rise to innovative tools from companies like Client Hub and Taxaroo, all enabled by the OpenAI licensing fee. Client Hub’s Magic Workflow solution generates checklists for tasks that are provided in a step-by-step process. Taxaroo’s ZeroTax.ai solution answers tax questions using ChatGPT-based AI, with a fee charged for human verification. Canopy’s AI assistant drafts emails based on keywords and phrases. The development of such solutions usually takes months or even years, however with the help of ChatGPT, businesses are able to develop solutions quickly and cheaply.
Client Hub is a workflow and client collaboration software company that was co-founded by Judie McCarthy. It created Magic Workflow, a tool that allows users to generate checklists for tasks. In addition, it has many workflow templates that help people keep track of their work. The development process of Magic Workflow took around seven weeks only.
Taxaroo is a software provider known for its ZeroTax.ai solution, a chatbot that answers tax questions and provides possible solutions. It is also desirable for tax and CPA firms looking to market themselves, as the chatbot can refer people with specific tax questions to the firms that have deeper knowledge on the subject. The development of this solution took only a few months.
Canopy is another software provider that released its own AI assistant. Artificial intelligence is used in this solution to draft emails. The development process only took two and a half months due to the help of ChatGPT. The AI assistant also allows for customization of the emails based on the tone the user desires.
All in all, ChatGPT is shaping the future of AI-powered solutions. With the relatively low cost of an OpenAI licensing fee and the ability to code in plain English, businesses can develop AI-powered solutions quickly and cheaply. This allowed various companies to innovate and produce powerful solutions to benefit their customers.
