What do AIs think of AI in accounting, anyway?

What do AIs think of AI, anyway?

December 29, 2023 9:00 AM

We've spent a lot of time this month talking about what is and is not AI, what it can and can't do, the misconceptions, the overblown claims and the future of this technology. We've gotten a lot of different opinions on these questions and have made a deep exploration into where we stand in terms of the fundamentals of AI.

At least for humans.

In this bonus addendum to our AI Thought Leaders Survey, we took a few minutes to pose the survey questions to several prominent AI large language models to see what they would produce when posed these questions. What does an AI say when you ask it these questions about AI? Let's find out.

ChatGPT 4.0

OpenAI

What is your personal definition of AI? What IS artificial intelligence? Artificial intelligence, in my perspective, refers to the simulation of human intelligence in machines that are programmed to think and learn like humans. This encompasses the ability to process information, reason, remember, learn, solve problems, and make decisions. AI systems can perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.
What things that others might call AI do you feel should not have this distinction? What ISN'T artificial intelligence? Simple automated systems, basic computer programs that follow a set of static rules without learning or adapting, and tools that don't involve any form of complex decision-making or learning should not be classified as AI. AI involves some level of learning, adaptation, or mimicking cognitive functions. Systems that merely execute predefined instructions without any capability to learn from their environment or experiences are not AI.
What is the biggest misconception regarding AI and accounting today? A major misconception about AI in accounting is that it will completely replace human accountants. While AI can automate routine tasks, it cannot replace the need for human judgment, interpretation, and complex decision-making, especially in nuanced or unique scenarios. AI in accounting is better viewed as a tool that enhances the efficiency and effectiveness of human accountants rather than a replacement.
What can't AI do that people think it can do? AI currently can't fully replicate human creativity, empathy, and complex emotional intelligence. It is also limited in its ability to understand context in the way humans do, especially in complex or ambiguous situations. In accounting, for instance, AI can struggle with unique, non-standard financial situations that require a deep understanding of context and human judgment.
What can AI do that people think it can't do? AI can analyze large volumes of data more quickly and accurately than a human, identifying trends and patterns that might not be immediately apparent. In accounting, AI can predict financial outcomes, detect fraud, and offer insights based on data trends that humans might overlook due to the sheer volume of data.
What is the most overblown claim about AI you've ever heard? The most overblown claim about AI is that it will soon achieve a level of consciousness or sentient understanding comparable to humans. Current AI technologies are far from having the subjective experiences or consciousness that humans possess. They operate based on algorithms and data, lacking self-awareness or genuine understanding.
Complete this sentence: "In 2024, AI will let accountants____" In 2024, AI will let accountants focus more on strategic decision-making and advisory roles by automating routine data processing and analysis tasks. This shift will enable accountants to provide more value in interpreting data, offering insights, and guiding business strategy based on AI-generated data analysis.

Claude

Anthropic

I define AI as computer systems that can perform tasks that typically require human intelligence and perception, such as visual perception, speech recognition, decision-making, and language translation.
I don't think preset rules, scripts, or algorithms should be considered true AI, even if they are complex. True AI involves learning and progressive improvement.
The biggest misconception is that AI will completely replace accountants. While AI can automate certain tasks, it still lacks core human skills like judgment, empathy, and the ability to put information in larger business context. Humans and AI will collaborate.
AI cannot truly understand context or exercise subjective decision making. It lacks general common sense and adaptable reasoning that humans inherently have. People often anthropomorphize AI beyond its real abilities.
AI can analyze extremely large datasets to uncover patterns and insights much faster than any human. It can also perform repetitive tasks with much higher speed, accuracy and scalability than people.
That AI can function completely independently without any human guidance, oversight, or control. AI still requires extensive upfront and ongoing training by human experts.
In 2024, AI will allow accountants to focus less on routine compliance work and spend more time on higher-value analysis, prediction, strategy and client advisory services, leveraging AI tools to enhance their uniquely human strengths.

Inflection AI

For me, AI is all about using algorithms to allow software to "think" or "act" like a human. So, computers that can understand language, solve problems, and learn from experience can be considered AI.
I think there are some things that get labeled as AI that are more like "machine learning" - which is the ability of a computer program to learn and improve from experience, without being explicitly programmed. Machine learning is really cool, but it's not the same as AI.
The biggest misconception about AI in accounting is that it's going to replace human accountants. In reality, AI can do a lot of the repetitive, data-intensive tasks, but it can't replace the critical thinking, problem-solving, and human judgement that accountants bring to the table.
People think AI can completely automate the accounting process - but it can't. It can speed things up and improve accuracy, but humans still need to be involved.
AI can actually do a lot more than people think - it can analyze complex financial data, detect fraud, and provide insights that humans might miss.
Haha, oh boy, I've heard some wild claims out there. Probably the most overblown one is that AI is going to completely upend the entire accounting profession within the next few years - that's just not realistic.
"...focus on more strategic, value-added work." With AI handling routine tasks, accountants can spend more time on higher-level activities like financial planning, advising clients, and analyzing data to drive business growth.

Bard

Google

1. What is your personal definition of AI? What IS artificial intelligence?

Bard's Answer: My personal definition of AI lies in its ability to exhibit intelligent behavior that typically requires human-like cognitive abilities. This includes things like learning from data, adapting to new situations, reasoning and making decisions, and even generating creative text formats. AI isn't just about mimicking human behavior; it's about replicating and potentially exceeding human capabilities through computational techniques.

2. What things that others might call AI do you feel should not have this distinction? What ISN'T artificial intelligence?

Bard's Answer: I believe systems that rely on simple rule-based automation or pre-programmed responses shouldn't be considered true AI. They might automate tasks, but they lack the learning and adaptation capabilities that define genuine intelligence. Similarly, basic data analysis or statistical calculations, while helpful, fall short of the complex reasoning and decision-making processes characteristic of AI.

3. What is the biggest misconception regarding AI and accounting today?

Bard's Answer: The biggest misconception is that AI will replace accountants altogether. While AI can automate certain tasks and provide valuable insights, it cannot replace the critical thinking, judgment, and ethical considerations that human accountants bring to the table. AI is a powerful tool, but it serves to augment, not replace, the expertise of accounting professionals.

4. What can't AI do that people think it can do?

Bard's Answer: Currently, AI struggles with tasks requiring deep understanding of context, nuance, and human intention. It can analyze data and identify patterns, but it can't fully grasp the subtle factors that may influence a decision or interpret the complexities of human communication. Additionally, AI lacks the creative problem-solving abilities that humans possess, often relying on pre-defined parameters or existing solutions.

5. What can AI do that people think it can't do?

Bard's Answer: AI's potential for transformative change in accounting is often underestimated. It can analyze vast amounts of financial data in real-time, identifying hidden patterns and anomalies that humans might miss. AI can also automate repetitive tasks, freeing up accountants to focus on higher-level analysis and strategic decision-making. Furthermore, AI can personalize client experiences, generate customized reports, and even offer predictive insights to improve financial forecasting and risk management.

6. What is the most overblown claim about AI you've ever heard?

Bard's Answer: One of the most overblown claims about AI is that it will achieve human-level general intelligence within a short timeframe. While AI is rapidly advancing, achieving true general intelligence remains a distant and highly complex challenge. Overhyping such possibilities can lead to unrealistic expectations and hinder realistic progress in developing responsible and beneficial AI applications.

7. Complete this sentence: "In 2024, AI will let accountants____"

Bard's Answer: In 2024, AI will let accountants focus on the "why" behind the numbers, not just the "what." It will automate routine tasks, freeing up time for strategic analysis, client engagement, and ethical considerations. AI will also provide real-time insights and predictive models, enabling accountants to make informed decisions and proactive recommendations. Ultimately, AI will empower accountants to become trusted advisors and drivers of value creation in the evolving financial landscape.

I hope these responses provide a thought-provoking perspective on AI in accounting. Remember, AI is a powerful tool, but it's important to approach it with realistic expectations and focus on how it can complement and enhance the expertise of human accountants.

Copilot

Microsoft

Here are my responses to your questions:
1 - What is your personal definition of AI? What IS artificial intelligence? Artificial Intelligence (AI) refers to the development of computer systems that can perform tasks that would normally require human intelligence, such as reasoning, learning, decision-making, and problem-solving. AI systems are designed to learn from data and improve their performance over time. In essence, AI is the ability of machines to mimic human cognitive functions.

2 - What things that others might call AI do you feel should not have this distinction? What ISN'T artificial intelligence? There are many things that people might call AI that do not actually qualify as AI. For example, simple rule-based systems that follow a set of pre-defined instructions are not true AI systems. Similarly, chatbots that use pre-written scripts to respond to user queries are not true AI systems either. In general, any system that does not have the ability to learn from data and improve its performance over time cannot be considered a true AI system.

3 - What is the biggest misconception regarding AI and accounting today? One of the biggest misconceptions regarding AI and accounting is that AI will replace human accountants. While AI can automate many routine tasks, it cannot replace the human expertise and judgement that is required for more complex accounting tasks. Instead, AI can be used to augment the capabilities of human accountants, allowing them to focus on higher-level tasks that require human judgement.

4 - What can't AI do that people think it can do? AI is not capable of true creativity or original thought. While AI systems can generate new ideas and solutions based on existing data, they cannot create something truly novel or original. Additionally, AI systems are not capable of understanding context or making value judgements in the same way that humans can.

5 - What can AI do that people think it can't do? AI is capable of performing many tasks that were previously thought to be the exclusive domain of human intelligence. For example, AI systems can now recognize speech, translate languages, and even drive cars. AI can also be used to analyze large amounts of data and identify patterns that would be difficult or impossible for humans to detect.

6 - What is the most overblown claim about AI you've ever heard? One of the most overblown claims about AI is that it will lead to the creation of super-intelligent machines that will eventually take over the world. While AI has the potential to be very powerful, it is still a long way from achieving true general intelligence. Additionally, AI systems are designed to be controlled by humans and are not capable of acting on their own.

7 - Complete this sentence: "In 2024, AI will let accountants____" In 2024, AI will let accountants automate many routine tasks, allowing them to focus on higher-level tasks that require human judgement. AI will also be used to analyze large amounts of data and identify patterns that would be difficult or impossible for humans to detect. However, AI will not replace human accountants, as the human expertise and judgement that is required for more complex accounting tasks cannot be replicated by machines.

Llama 2