The Woodard Report Podcast: Featuring Heather Satterley and Joe Woodard Episode 119 - Counting on Change: How AI is Rewriting the Ledger - The Woodard Report Podcast
Apr 23, 2025
Dive into the transformative impact of AI on accounting as the hosts share insights from their leadership course at Brown University. Learn about the different types of AI and their necessity for firms in today's market. They explore real-world applications like automating blog writing and client communication, urging accountants to embrace AI now. The discussion includes navigating complex regulations and the importance of integrating AI for competitive advantage, all while considering data privacy and cybersecurity risks.
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Types and Power of AI
- AI has various types: narrow (specific), agentic, and general AI, each with different capabilities.
- The most powerful AI is dependent on vast amounts of data, making data the new gold rush.
Start Experimenting with AI Now
- Experiment with AI tools like ChatGPT immediately to catch up if you haven't yet.
- The learning curve is light; talk to AI as you would a human to get effective results.
Use AI Confirmation Checks
- Confirm AI's understanding by asking it to repeat or analyze data you provide.
- This interaction helps identify missing information and improves results.
