ICAI embraces AI expertise, launches GPT for CAs

Because it celebrates the Diamond Jubilee of its inception, the Institute of Chartered Accounts of India has determined to embrace Synthetic Intelligence and Generative AI to faucet the advantages of the expertise that offers human-like solutions. After testing the Beta model, the institute launched the CAGPT, a fenced GPT (which isn’t linked to exterior assets) developed in a tie-up with OpenAI, the makers of ChatGPT. The institute additionally launched one other GPT, solely for the scholars pursuing CA programs.

“We now have educated the GPT with all the info that the institute developed during the last 75 years. The GPT might churn out solutions for any easy or advanced questions that college students might need,” Dayaniwas Sharma, a member of ICAI’s Central Council, and Chairman of the AI in ICAI, informed businessline.

Earlier addressing a gathering of CAs on the AI Innovation Summit right here on Tuesday, he demonstrated how they may use the CA GPT. “Over 30,000 of our members have used the GPT thus far. We’re encouraging others to faucet the potential of Generative AI,” he stated.

To equip the members with abilities to make use of the GPT and different AI instruments, the institute has launched a three-day certificates course, with a course size of 18 hours. “It is a preliminary course. We are going to introduce two different superior programs,” he stated.

The institute, nonetheless, will disable entry to the GPT on the time of examinations. Stating that it was very explicit about integrating expertise with apply, the syllabus of core topics within the outgoing batch was laced with expertise.

Umesh Sharma, Vice-Chairman of AI in ICAI, stated that the institute would publish totally different use circumstances to sensitise the members to faucet the Generative AI of their apply. Asking the members to encourage their colleagues to make use of GenAI, he introduced that the institute would kick begin Season 2 of a hackathon, inviting innovators to unravel a number of the content-generation challenges confronted by the members.

US convention 

ICAI President Ranjeet Kumar Agarwal stated that the institute would organise the same convention in San Francisco in October. “AI just isn’t going substitute you (CAs). However the one with AI abilities will,” he cautioned the members, asking them to discover ways to use new instruments.

He stated the institute was in talks with the MeitY to develop an AI Audit instrument that helps the members maintain tabs on the books of corporates and flag frauds, if any.

The 2-day convention is focussing on a spread of matters round AI and GenAI together with the challenges for adoption; the way forward for expertise in accounting; upskilling CAs within the AI period; points associated to cybersecurity; the artwork of utilizing efficient prompts; and AI in forensic audit.