PwC Chief Products & Technology Officer Says Not to Worry, They Don’t Want to Replace You With AI
A couple days ago, NYT published a piece asking an important question: Who will protect the workers losing their jobs to AI? The article references a May 16 senate subcommittee hearing chaired by Senator Richard Blumenthal at which OpenAI’s Sam Altman is told Mr. Blumenthal’s greatest nightmare is AI causing massive job loss. “There will […]
ChatGPT Can Pass the CPA Exam But Here’s What It Can’t Do (Yet)
If the headlines are to be believed, humanity is mere months away from being enslaved by artificial intelligence or, at the very least, being permanently unemployed (cue sounds of the Going Concern audience celebrating here). You may have seen clickbait articles about entire marketing departments being turfed in favor of ChatGPT (we never liked the […]
Microsoft Crunches Some Data to Find Out Teams is the Biggest Productivity Killer at Work
Have you ever been totally in the zone, grinding away at work oblivious to the world around you when you’re rudely interrupted by a *DING* that snaps you right out of your trance and back to the tedium of a seemingly infinite inbox? Or maybe you were cruising along on some project you’d been putting […]
PwC Has Set Aside $1,000,000,000 for AI
We’ve used that PwC Chad image way too many times recently so have this AI-generated fantasy forest instead. It wasn’t that long ago that Big 4 accounting firms were cagey about staff playing around with ChatGPT on company equipment, consumed by the fear of sensitive client information being fed into the AI black hole. But […]
Academics Pitted Human Accounting Students Against GPT-3, Students Won
As aspiring lawyers everywhere learned with horror that GPT-4 is capable of passing the bar exam (in the 90th percentile of test-takers, no less) a whole bunch of academics were not-so-quietly putting GPT-3 to the test on accounting. Literally. Published in Issues in Accounting Education, a total of 328 authors from 186 different institutions in […]
GPT-4 Answers Tax Questions, Gets Them Mostly Right
These days there is a lot of yapping about what AI can and can’t do; it CAN answer bar exam questions so well it’s nearly in the 90th percentile of test-takers, it CAN’T search in real time to find up-to-date answers beyond what it’s been trained on so it won’t be getting stuck in a […]
KPMG Is Putting ChatGPT to Work, It Probably Won’t Be Stealing Your Job For Now
KPMG Australia has joined PwC in deploying AI to get some work done, finally giving us the “robots taking your job” scenario we’ve been eager for since at least 2010. It’s here! Funny enough, KPMG blocked staff from using ChatGPT a little less than two months ago, though it did allow certain IT professionals to […]
TIL EY Has Commoditized Space
Is there any limit to the robust and ever-growing suite of services offered by professional services firms? Apparently not. As we’ll learn in a sec, not even the sky is the limit. It was less than a year ago that EY put $3 million Aussie bucks into a space business in partnership with Swinburne University […]
ChatGPT Isn’t Terminator for Accountants…Yet
Ed. note: the following is a guest post by Jack Castonguay, PhD, CPA, who has not yet been replaced by ChatGPT as far as we know. Or has he? Was ChatGPT sent to us from the future to rescue the industry from the pipeline crisis by filling open accounting jobs with cyborgs and sentient machines? […]
PwC Has a Fancy New AI Tool to Law Around With
Today is the day that PwC ushered in a new era for professional services: a global partnership with AI startup Harvey, offering PwC’s legal professionals “exclusive access” (that is, they are the only Big 4 firm who has it) to the platform. It’s a shame we had to scroll all the way to the bottom […]
Unable to Bill For It (Yet), PwC Australia Tells Staff They Can’t Use ChatGPT For Client Work
Hate to be the burster of bubbles for anyone out there excited to unload your work on ChatGPT but PwC Australia has told its people that for now, playing around with AI should happen strictly off the clock. Australian Financial Review reports that in this morning’s internal newsletter, PwCers were told not to feed client […]
No One Cares But Here Are PwC’s 2023 Metaverse Predictions Anyway
What’s next for the metaverse and what — if anything — should you do about it? PwC has answered the question no one is really asking in its 2023 metaverse predictions. These predictions are, as you’d expect, dumb made assuming that businesses and consumers alike will begin using the metaverse in earnest rather than making […]
Here’s What Happens When You Hire AI to Do Accounting
For a good decade we’ve heard about the robots that are going to render accountants obsolete, now we finally get a peek at the glorious technology that will transform the industry as we know it. You should prepare yourself, this advanced technology will have you on the University of Phoenix website ASAP to get a […]
Are You Future-Ready? Learn How to Get There at This PICPA Event
For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast. While business writers push endless streams of science fiction about robots taking jobs, technology […]
Here’s Where We’re at With That Whole ‘Robots Taking Over Your Job’ Thing
For pretty much the entire lifetime of this website — which, by the way, is 11 years come July 20 — the specter of robots automating our core audience out of a job has been a persistent topic. Not as persistent as, say, perverts with CPA at the end of their names or dick-measuring contests […]
The Good News Is Robots Won’t Take Your Job, the Bad News Is When They Do They’ll Be Like Interns
We’ve been talking about robots taking your jobs for years now, always coming to the same conclusion that AI won’t make skilled CPAs, auditors, and other higher-level accounting professionals redundant. Phil the bookkeeper who has been doing taxes out of a beauty salon backroom in a podunk strip mall may not be so lucky, but […]
Automation to Artificial Intelligence: New Frontiers for Auditors
News flash: Artificial intelligence (AI) and other cognitive technologies are eliminating jobs left and right. Bloomberg reports as many as 5 million jobs by 2020. Oh, calamity. Should auditors be worried? The short answer is no…don’t lose sleep over it. Why? First off, cognitive technologies (even super cool advanced ones) are best with structured tasks […]