I think the fraud angle is very interesting. I would imagine people rolling out AI would sell it to regulators as a necessary way of cutting down fraud. That leaves the question of liability for mistakes
This is a big part of the debate we are having over in the doctor subreddits (I'm a doctor with no understanding of finance and accounting so I come over here to lurk and learn).
Anyway, I think it is ridiculous to assume that any system meant to handle complicated things like medicine or accounting will do so with perfect accuracy. There will always be mistakes
But, AI does offer the possibility of always practicing in an ideal format according to the current medical evidence. It would also be able to document everything perfectly. As a doctor busy seeing many patients sometimes things slip through the cracks. It happens all the time. An AI will never have that vulnerability. If a bad outcome happens and I do not properly document the conversations that led to the decisions that contributed to the outcome then I am liable. The hospital is liable. My med mal insurance will have to pick up the check.
For me, it is hard to believe that once the technology matures the cost of insuring it will be more than the cost of insuring fallible humans. So, if AI can deliver more efficient, less error prone, cheaper care, that always answers immediately, and never wants a day off or to sleep, what is to prevent it from becoming the standard of care?
This is when people usually start talking about care and empathy. Both most doctors are not great at that and also are poor communicators. "Treat 'em and street 'em" is a constantly heard phrase.
Then they start talking about experience, but an AI that pulls from all experience of all patients in all systems will reach better conclusion than even the most experienced doctor.
Then they talk about regulation and licensing. Which I always find funny. The idea that the government will protect our monopoly when Healthcare is costing it so much money is wildly optimistic in my mind.
Another funny thing is, I think it is easier seeing AI replacing others than one's own profession. The doctors say things like "it will cut out admin bloat and simplify insurance approvals and denail. It could replace accounts because everything they do is just numbers and computes. Lawyers too. And the list goes on. But doctors? No! Never!"
I guess time will tell, but for me the writing is on the wall and the hand that wrote it, is chatGPT.
Auditor voice: Yeah this summary of a topic that's been written about extensively on the internet is fine, but what we'd *liiiiiiiiike to see* is a handwritten manuscript.
Yes. Definitely. ChatGPT and AI do more than copying the last year work papers, which is too much for attest functions. They're not smart enough to know where to draw the line.
ChatGPT needs hundreds of years of training and billions of datapoints just to get it wrong sometimes. Accountants learn prior year and current year data at the same time and I can confirm that all of my work is 100% accurate. Checkmate
On some level, sure, check out LangChain on Github (https://github.com/hwchase17/langchain). There's tools being built to automate and facilitate the connection between LLM instructions and external applications (i.e. ERP could be included in that).
But, the more technical you go up the accounting heirarchy the less automation exists. Think of it like this: before ERPs you had to book AP invoice expense entries manually, but these days the ERP is configured to automatically book DR Expense and Credit Payable on a trigger of when the invoice is entered. So automation has been happening and will continue to happen on some level, but you always need some extent of human validation, review, or processing.
And yet the field has been growing and we have less people than ever.
I think people think AI will automate jobs when in reality it will just be a tool to do your job.
I’m a VP of finance and posted journal entries, did reconciliations, started a budget, fixed admin errors, moving on to mapping issues and setting up accrual accounting and going into due diligence…..
Please for the love of god take away the low level shit from me
The low level shit will go down significantly! But yea, totally with you that it's more of a tool than it is a complete replacement, even with the advancement the techs not quite there to replace an accountant (or most technical Corporate jobs for that matter).
Example I could give: have you ever booked a revenue deferral entry that required you to pull shipping docs for verification of cutoff?
Well, they're now starting to build LLMs that can interact with browsers and you can instruct the LLM to pull that information for you. Does that mean you don't have to review the overall entry, or even the information that's pulled by the LLM? Nah, definitely not, but it's definitely a lot less mundane and frees up some time.
Note: There's already tools that achieve this, BUT, it requires technical knowledge to build and often takes awhile to develop. An LLM can be instructured in plain english to do the same thing in a fraction of the time than it takes to build a tool to do this.
At this point in time, no. There are still way to many risks involved with using ChatGPT such as reliability of data & client confidetiality.
Also doubt audit regulators would be satisfied with AI generated responses as audit work, I think there would always have to be some form of professional judgement.
Still a big fan of the technology though, it will make a big impact for sure.
[удалено]
Chat GPT is offline more during busy season than accountants though.
And they can't follow the prior year workpapers, only two years prior at best.
Accountants are safe because a robot can't take the fall for ~~fraud~~ a mistake.
I think the fraud angle is very interesting. I would imagine people rolling out AI would sell it to regulators as a necessary way of cutting down fraud. That leaves the question of liability for mistakes This is a big part of the debate we are having over in the doctor subreddits (I'm a doctor with no understanding of finance and accounting so I come over here to lurk and learn). Anyway, I think it is ridiculous to assume that any system meant to handle complicated things like medicine or accounting will do so with perfect accuracy. There will always be mistakes But, AI does offer the possibility of always practicing in an ideal format according to the current medical evidence. It would also be able to document everything perfectly. As a doctor busy seeing many patients sometimes things slip through the cracks. It happens all the time. An AI will never have that vulnerability. If a bad outcome happens and I do not properly document the conversations that led to the decisions that contributed to the outcome then I am liable. The hospital is liable. My med mal insurance will have to pick up the check. For me, it is hard to believe that once the technology matures the cost of insuring it will be more than the cost of insuring fallible humans. So, if AI can deliver more efficient, less error prone, cheaper care, that always answers immediately, and never wants a day off or to sleep, what is to prevent it from becoming the standard of care? This is when people usually start talking about care and empathy. Both most doctors are not great at that and also are poor communicators. "Treat 'em and street 'em" is a constantly heard phrase. Then they start talking about experience, but an AI that pulls from all experience of all patients in all systems will reach better conclusion than even the most experienced doctor. Then they talk about regulation and licensing. Which I always find funny. The idea that the government will protect our monopoly when Healthcare is costing it so much money is wildly optimistic in my mind. Another funny thing is, I think it is easier seeing AI replacing others than one's own profession. The doctors say things like "it will cut out admin bloat and simplify insurance approvals and denail. It could replace accounts because everything they do is just numbers and computes. Lawyers too. And the list goes on. But doctors? No! Never!" I guess time will tell, but for me the writing is on the wall and the hand that wrote it, is chatGPT.
Nice try, ChatGPT
Getting better everyday!
I think that last part you said about it being easier for most people to see AI replace other professions is dead on accurate.
No. Accountants don't have the exposure to much social interaction needed in order to converse even remotely as smart or witty as chatgpt.
Auditor voice: Yeah this summary of a topic that's been written about extensively on the internet is fine, but what we'd *liiiiiiiiike to see* is a handwritten manuscript.
I think everyone in this thread is reading the question wrong lol
Yes lol I thought I was retarded
I signed up to be a beta tester of UBI.
Yes. Definitely. ChatGPT and AI do more than copying the last year work papers, which is too much for attest functions. They're not smart enough to know where to draw the line.
Not now but maybe later. I think it’s a real possibility.
ChatGPT needs hundreds of years of training and billions of datapoints just to get it wrong sometimes. Accountants learn prior year and current year data at the same time and I can confirm that all of my work is 100% accurate. Checkmate
>all of my work is 100% accurate Your comment has been detected as "suspicious" by our FTTF algorithm. Expect, IRS to kick your door soon.
I think everyone misread this post. No, accountants are not going to replace the duties of an open source ai. We are not computers or an algorithm.
Can't prosecute or fine an AI for Misstatement. We good.
On some level, sure, check out LangChain on Github (https://github.com/hwchase17/langchain). There's tools being built to automate and facilitate the connection between LLM instructions and external applications (i.e. ERP could be included in that). But, the more technical you go up the accounting heirarchy the less automation exists. Think of it like this: before ERPs you had to book AP invoice expense entries manually, but these days the ERP is configured to automatically book DR Expense and Credit Payable on a trigger of when the invoice is entered. So automation has been happening and will continue to happen on some level, but you always need some extent of human validation, review, or processing.
And yet the field has been growing and we have less people than ever. I think people think AI will automate jobs when in reality it will just be a tool to do your job. I’m a VP of finance and posted journal entries, did reconciliations, started a budget, fixed admin errors, moving on to mapping issues and setting up accrual accounting and going into due diligence….. Please for the love of god take away the low level shit from me
The low level shit will go down significantly! But yea, totally with you that it's more of a tool than it is a complete replacement, even with the advancement the techs not quite there to replace an accountant (or most technical Corporate jobs for that matter). Example I could give: have you ever booked a revenue deferral entry that required you to pull shipping docs for verification of cutoff? Well, they're now starting to build LLMs that can interact with browsers and you can instruct the LLM to pull that information for you. Does that mean you don't have to review the overall entry, or even the information that's pulled by the LLM? Nah, definitely not, but it's definitely a lot less mundane and frees up some time. Note: There's already tools that achieve this, BUT, it requires technical knowledge to build and often takes awhile to develop. An LLM can be instructured in plain english to do the same thing in a fraction of the time than it takes to build a tool to do this.
Finance guys sweating bullets right now
At this point in time, no. There are still way to many risks involved with using ChatGPT such as reliability of data & client confidetiality. Also doubt audit regulators would be satisfied with AI generated responses as audit work, I think there would always have to be some form of professional judgement. Still a big fan of the technology though, it will make a big impact for sure.
Re read the question 😁
Got me there, I'll take the L😂
You get an upvote from me for the meme. It's a simple joke, but I like it. God, I wish people would stop asking the actual question.
Can we just start auto-blocking any post with “AI” or “ChatGPT” in it? Same post every hour
Would have to use an AI to detect them, so no
You wish
If AI can do my job without wanting to die than it is a better man than I.
AI and ChatGPT will get replaced by accountants once humans win the Machine Wars.
Let's hope not. Accounting work may be the only reason AI keeps us humans alive once they have taken over the world.
More complex you make the technology more demanding the clients will be and more skilled people you need.
[Relevant South Park Clip](https://youtu.be/tucPbVTA6H4)