Generative AI tools like ChatGPT and other large language models (LLMs) have begun to change the legacy approach for countless industries, including accounting.
Its pattern recognition, of course, also points toward the future. Machine learning can look at past and current data to better forecast a company’s performance, cash flow and profits. This means better decision-making, a critical tool in fragile sectors like hospitality and retail.
More than three decades ago, science fiction visionary Isaac Asimov, who wrote extensively on the potential of technology and who coined the term “robotics,” foresaw the ideal marriage of human and machine. “In a properly automated and educated world,” Asimov wrote, “machines may prove to be the true humanizing influence. It may be that machines will do the work that makes life possible and that human beings will do all the other things that make life pleasant and worthwhile.
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