Artificial intelligence (AI) is the simulation of human intelligence by machines, and the applications for use are rapidly increasing each day. Chatbots such as ChatGPT and BingAI are at the forefront of this movement, but Ashley Francis, CPA, Owner — The Franchise Group, PLLC, notes that more than 1,500 similar AI were released in the past week.

Listen in as Ashley shares more insights with April Walker, CPA, CGMA, Lead Manager — Tax Practice & Ethics, AICPA & CIMA, including how AI is positioned to transform the future of tax compliance.

What you’ll learn in this episode

Why the time is ripe for AI and why it creates both excitement and anxiety (0:48)
Other players on the scene besides ChatGPT (5:03)
The more exciting implications of AI for tax practitioners (9:07)
Is this just a fad? (13:52)
Tips for getting started (16:29)
How to create a helpful prompt (19:48)
Data security concerns, legal and ethical concerns and tips for risk mitigation (26:18)
A page from Ashley’s travel journal (30:05)

Related resources

The Francis Group, PLLC — At The Francis Group, Ashley offers expert technical services and personalized service to sophisticated taxpayers and family entities with high net worth. Ashley can also be found on Twitter.
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