To celebrate its 60th anniversary, the Institute of Chartered Accountants of India decided to embrace artificial intelligence and generative AI to capitalize on the benefits of the technology in providing human-like answers. After testing the beta version, the institute released CAGPT, a fenced GPT (not connected to external resources), developed in partnership with OpenAI, the creators of ChatGPT. It also released another GPT exclusively for students pursuing CA courses.
“We have trained GPT using all the data that the institute has developed over the last 75 years. GPT can answer all the simple and complex questions a student may have,” Dayaniwas Sharma, member of ICAI’s central council and chairman of ICAI’s AI committee, said. Business Line.
He spoke to a gathering of CA at the AI Innovation Summit here on Tuesday, where he demonstrated how to use CA GPT. “More than 30,000 members have used GPT to date, and we encourage others to harness the potential of generative AI,” he said.
To equip its members with the skills to use GPT and other AI tools, the institute has started a three-day, 18-hour certification course. “This is a preliminary course. We will also introduce two other advanced courses,” he said.
However, the school plans to disable access to the GPT during exam periods. The school said it was very committed to blending technology with practice, and the core curriculum for graduating students was heavily technology-infused.
Umesh Sharma, Vice-President, AI, ICAI said the institute will showcase various use cases to help its members apply Generative AI in their practice. Urging members to encourage their colleagues to use GenAI, he announced that the institute will launch Hackathon Season 2, inviting innovators to solve some of the content generation challenges faced by its members.
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Ranjit Kumar Agarwal, president of ICAI, said the association will hold a similar conference in San Francisco in October. “AI will not replace you (CAs), but people with AI skills will,” he warned members, urging them to learn how to use the new tools.
He said the institute is in discussion with MeitY to develop an AI audit tool that will help its members monitor the books of companies and report any irregularities.
The two-day conference will focus on various topics related to AI and GenAI, including implementation challenges, the future of technology in accounting, upskilling CAs in the age of AI, issues around cybersecurity, how to use prompts effectively, AI in forensic audits, and more.
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