TY - JOUR
T1 - Large Language Models
T2 - An Emerging Technology in Accounting
AU - Vasarhelyi, Miklos A.
AU - Moffitt, Kevin C.
AU - Stewart, Trevor
AU - Sunderland, Dan
N1 - Publisher Copyright: © 2023, American Accounting Association. All rights reserved.
PY - 2023/9/1
Y1 - 2023/9/1
N2 - This commentary discusses how large language models like ChatGPT hold transformative potential in accounting, including education, research, and professional auditing. In the educational sphere, the advent of ubiquitous artificial intelligence (AI) tutors could potentially solve Bloom’s Two Sigma Problem, heralding a new era of personalized learning. Accounting research stands to benefit immensely, particularly in tasks that rely heavily on natural language processing. In the professional auditing domain, the capabilities of ChatGPT to create broad outlines of risks inherent in certain accounts and assertions can enable engagement teams to create more risk-responsive audit plans. However, although the advantages are remarkable, they are accompanied by potential pitfalls that necessitate cautious navigation. Even with these challenges, AI’s impending transformation in personal and professional lives cannot be overlooked, as accounting stands on the brink of significant change.
AB - This commentary discusses how large language models like ChatGPT hold transformative potential in accounting, including education, research, and professional auditing. In the educational sphere, the advent of ubiquitous artificial intelligence (AI) tutors could potentially solve Bloom’s Two Sigma Problem, heralding a new era of personalized learning. Accounting research stands to benefit immensely, particularly in tasks that rely heavily on natural language processing. In the professional auditing domain, the capabilities of ChatGPT to create broad outlines of risks inherent in certain accounts and assertions can enable engagement teams to create more risk-responsive audit plans. However, although the advantages are remarkable, they are accompanied by potential pitfalls that necessitate cautious navigation. Even with these challenges, AI’s impending transformation in personal and professional lives cannot be overlooked, as accounting stands on the brink of significant change.
KW - audit
KW - generative
KW - large language model
UR - http://www.scopus.com/inward/record.url?scp=85174582063&partnerID=8YFLogxK
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U2 - 10.2308/JETA-2023-047
DO - 10.2308/JETA-2023-047
M3 - Comment/debate
SN - 1554-1908
VL - 20
SP - 1
EP - 10
JO - Journal of Emerging Technologies in Accounting
JF - Journal of Emerging Technologies in Accounting
IS - 2
ER -