Accounting for the future - how we are using AI to change your world

By
Deepika Naidoo
Marketing Manager
March 15, 2024
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Following the rise in popularity of artificial intelligence, Accensis is making sure our firm can thrive with the help of language learning models

We love prompting ChatGPT, but you lose out on its full potential if you don't know how to successfully guide it.

Over the years, Accensis has been on board for the new developments in artificial intelligence.

Following it's popularity and release to the public, this is the first AI programme we are trial running in our office.

Just to give you some background, here is how it describes itself (with some editing from our marketing manager, ofcourse):

"ChatGPT is an artificial intelligence language model developed by OpenAI, designed to produce human-like text based on the input it receives"

It utilizes vast amounts of pre-existing text data to generate responses. It continuously learns and adapts through machine learning techniques to improve its understanding and output over time.

Our directors have tasked us to help Accensis incorporate AI into our daily workflow. Ideally, it will become part of the Accensis way.

There are so many reasons to have faith in the power of AI: automating time-consuming tasks, gathering insight from people from various walks of life and data which we interpret to bring the best results.

Accensis will be sharing our AI journey and what we are doing to improve our processes (Photo: lerbank bbk22)

AI is the future and, most importantly, the present. You, too, can improve your company processes and employee well-being with the help of the latest technology.

AI allows you to focus on thought-demanding work. Critical thinking can become the forefront of your job. 

And transparency is critical in this journey. You deserve to know how we are implementing AI:

ChatGPT Roll out

All staff are encouraged to learn the ropes. Our managers use ChatGPT 4.0 to access the most updated legislation and discover the latest AI developments.

It is now time for human ingenuity to shine through.

But before we could do that, I asked ChatGPT if it could replace human beings, and it was very honest about its limitations.

Why doesn't artificial intelligence possess? Why do I still need an accountant?

Here's our little interview with ChatGPT.

Although it has access to all the world's information at its 'fingertips', here's why it can't replace us:

Lack of emotional understanding 

"While I can process and generate text based on patterns and data, I lack true emotional understanding and empathy, which are essential for many human interactions,"


Limited Creativity

"While I can generate creative outputs based on the information I've been trained on, my creativity is ultimately limited by the data and algorithms used to create me. Human creativity often involves intuition, inspiration, and thinking beyond predefined patterns."

We are proud South Africans, looking forward to an improved world with the help of AI. (Photo: Accensis)


Physical Presence

"I exist solely as a digital entity and lack physical Presence.

"Many tasks and interactions in the world require physical abilities and Presence that I do not possess."


Complex Decision Making

"While I can process vast amounts of information quickly, my decision-making abilities are based on algorithms and rules rather than intuition and real-world experience.

"Humans excel at making nuanced decisions in complex situations, often considering various factors beyond data."

Subjectivity and Context

"Humans have unique experiences, perspectives, and biases that shape their world-understanding.

"I can provide information and insights based on data, but I may not always understand a situation's full context or nuances as a human would."

Ethical and Moral Reasoning

"Humans possess a sense of ethics, morality, and values that guide their decisions and actions. While AI can be programmed with ethical guidelines, true moral reasoning involves understanding and grappling with complex ethical dilemmas in real time, which AI currently cannot do autonomously."

ChatGPT and Accensis are putting our heads together to bring you new ways of practising our profession. 

AI will change the game, and we are the MVP's of the AI accounting world!