ChatGPT, short for ‘Chat Generative Pre-trained Transformer’, is the latest state-of-the-art Artificial Intelligence technology that is making waves in the tech industry as we speak. It is an AI language model developed by Open AI which can be configured to generate human-like text or conversation based on the input it is given.
Put simply, it can generate responses to questions, summarise long texts, suggest stories and more. It is extremely user-friendly and within five days of its launch, it managed to gain the world record for having “1 million users”, making it the fastest-growing internet application ever. It is not far-fetched to say that ChatGPT’s potential is infinitely vast and capable of providing multiple opportunities, not just to its users, but to the finance fraternity at large.
This thought was formally realised by CFOs when the leading CFO organisation conducted a survey to see if ChatGPT would affect the financial function in any way – to which 65% of the respondents voted ‘Yes’, 25% voted ‘Let’s See’ and a mere 10% voted ‘No’. It is no exaggeration to say that ChatGPT is a powerful tool that finance teams should use to their advantage. Through input-based queries, ChatGPT can provide detailed answers to questions which can in turn be used to increase efficiency and lead to better decision-making.
ChatGPT’s capability to deliver data-driven insights have the potential to offer a competitive advantage to those in the finance sector. Furthermore, its ability to automate routine tasks such as data entry, financial modelling and report generation, gives users more time and energy to focus on activities that matter. Not to mention, its capacity to provide personalised financial advice could not only improve customer experience but also increase customer satisfaction.
The advent of AI was always going to present a future of possibilities and advancements, but at the same time, it is important to note that AI cannot replace human effort. While ChatGPT might be able to substitute mundane and repetitive tasks, human judgement and discretion will always be required in scenarios which involve complex decision-making. Furthermore, ChatGPT also comes with the disclaimer that a human needs to review the final advice for accuracy and consistency.
ChatGPT is put forth as the mirror of an expert consultant and has the potential to become a game-changer in the Finance fraternity, it is important to keep in mind that such technologies must be used responsibly and can only be beneficial, when used correctly.
At the helm of this company is, Chief Financial Officer – India, Persolkelly India, which is founded in 2017, is the leading global workforce solutions provider for all technologies in recruitment, digital platforms and HR services.
Their team is profoundly experienced, who employ technology and innovation to deliver the best experience to employers and job seekers alike. It is also an ISO-certified company, with a mission to “extend the reach and scope of manpower resources”, delivering impactful solutions and quality services to clients in India and abroad.
The success of ChatGPT is largely credited to Mr.Rohin, a tech enthusiast and expert in AI. Rohin is the Director of Emerse Data Labs, an artificial intelligence-based company that provides data-driven insights and solutions to its customers. With a passion for technology and years of experience, Rohin has been able to facilitate the development of ChatGPT. His current work and contributions to the field of artificial intelligence has made him a key player in the AI space.
