Accounting Today Podcast
Demystifying AI
Aug 14, 2023
The podcast explores the impact of AI in accounting, its potential future uses, and the importance of human intervention. It discusses the evolution of AI in the tax marketplace and the significance of having an AI initiative for businesses of all sizes.
32:28
AI Summary
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Episode notes
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Quick takeaways
- Accountants should focus on learning how to use existing AI tools and platforms instead of building their own.
- AI in accounting is expected to improve in precision, privacy, and accuracy, enabling the use of predictive analytics for efficient forecasting and aiding in business analysis, optimization, and strategy implementation.
Deep dives
Defining AI: Simulating human intelligence
Artificial intelligence is a collection of algorithms that simulate human intelligence. It is a field that has evolved over time, with various definitions and interpretations. AI is the attempt to reproduce human intelligence and is often used for tasks such as generative AI and chatbots.
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