ChatGPT on financial reporting

ChatGPT on financial reporting

Generative AI’s incredible speed of sinking into our everyday lives came in like a tsunami. At a record-breaking, tech-pandemic’ish growth rate, OpenAI’s ChatGPT registered users reached 1 million within 5 days and 100 million within 2 months to become the fastest adopted consumer internet app.

This is even more impressive considering that OpenAI’s ChatGPT, while reaching 162 countries, does not allow users from mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up. Mainland China and Hong Kong make up a fifth of the world’s population. This didn’t stop the ChatGPT frenzy from reaching Chinese shores, as its wonder has topped almost every conversation, WeChat post and search results.

When the dust settles from the novelty of the conversations the mass population now has with their AI ChatGPT, the implication for the corporate world could be even bigger. Financial reporting that measures the pulse of the market could be directly hit by the AI tsunami, impacting players from the companies, regulators and the “human talent” in the ecosystem.

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