Want to save 30 minutes a day, and your team too, right now using GenAI? The next 26 minutes is so action-packed with straightforward, real-world practical tips, you’ll be questioning why you haven’t been using artificial intelligence this way already to improve efficiency and productivity at work. Chartered Accountant, and GenAI expert, Kayur Patel CA returns for Part 2 of this two-part special on artificial intelligence and everyday accounting. He and host Gillian Bowen dive into GenAI use-cases (text, data and bespoke) available to accountants today, particularly those in small and medium-sized practices. Get ready to take notes!

“If you can help every single person in your business save half an hour a day, or 45 minutes, or an hour a day, it might seem like a small number but when you scale that across your entire business or team, that dramatically increases the efficiency of the organisation.”

“Treat your AI model or your tool like you would treat an intern or a grad. When I’m saying you can do a particular use case, when you’re explaining it to the model, explain how you would explain it to an intern or grad, you’re going to get a really good result.”

Resources referred to in the episode:

• GenAI for SMPs (Part 1) - focused on the big picture of GenAI: What is it, the current state of play, the impact on workplaces and what’s around the corner?
• CA Library Artificial Intelligence general reading list
• CA Library articles/resources involving AI and accountancy:
  • AI and the transformation of the CFO role (Isaac Heller, Strategic Finance, January 2024)
  • Generative AI in accounting applications (Kelly Richmond Pope et al, Strategic Finance, November 2023)
  • Writing advanced Excel macros with GPT-4 (Fidel Dhana, Journal of Accountancy, November 2023)
  • Six principles for the effective use of artificial intelligence large language models (Daniel Street et al, CPA Journal, Nov/Dec 2023)
  • Accounting in the age of generative AI (Tala Khalifeh, Strategic Finance, October 2023)
  • Innovative processes in finance and accounting (AI and automation) (Vineet Jain, Strategic Finance, October 2023)
  • Generative AI and risks to CPA firms (Sarah Beckett Ference, Journal of Accountancy, October 2023)
  • The future of accounting: how artificial intelligence is revolutionizing the field (ACCA & Learn Signal, 31 October 2023)
  • Ethical principles apply to AI (Accounting) (Daniel Butcher, Strategic Finance, August 2023)
  • Using ChatGPT with Excel (Kelly L. Williams, Journal of Accountancy, April 2023)
  • The future of finance with ChatGPT and Power BI: transform your trading, investing, and financial reporting with ChatGPT and Power BI (James Bryant & Aloke Mukherjee, Packt Publishing, 2023. eBook)