Accounting firms have high hopes for the future of ChatGPT, an AI-powered chatbot, but acknowledge that it poses risks for the present. The program, developed by OpenAI, stores all entered data on its servers, which can represent serious security and confidentiality breaches for client data. Moreover, ChatGPT may occasionally “hallucinate” and draw erroneous conclusions. However, firms remain optimistic about the technology’s potential, including its ability to process and analyze the Internal Revenue Code. Additionally, ChatGPT is useful for support tasks, such as generating computer code, summarizing white papers, and streamlining presentations. ChatGPT may never replace the entire accounting profession, but it will play a significant role as a tool for manual task automation services, according to James Bourke, managing director of the advisory practice at Top 100 Firm Withum.
Large Companies Show More Promise in ChatGPT’s Future Than Present
Date:
Frequently Asked Questions (FAQs) Related to the Above News
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
More like thisRelated
Obama’s Techno-Optimism Shifts as Democrats Navigate Changing Tech Landscape
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?
Tech Evolution: From Obama’s Optimism to Harris’s Vision
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?
Tonix Pharmaceuticals TNXP Shares Fall 14.61% After Q2 Earnings Report
Tonix Pharmaceuticals TNXP shares decline 14.61% post-Q2 earnings report. Evaluate investment strategy based on company updates and market dynamics.
The Future of Good Jobs: Why College Degrees are Essential through 2031
Discover the future of good jobs through 2031 and why college degrees are essential. Learn more about job projections and AI's influence.