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Artificial intelligence

Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession.

Contents
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Getting started
Opportunities and accounting use cases
Generative AI: A brief introduction
Guidance

Generative AI guide

The guide acts as an introduction to generative AI and provides information on topics such as how to get started, opportunities and possibilities, governance, and ethics.
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Article

How to get started with generative AI

With the increasing immersion of generative AI into the workplace, Franki Hackett, Head of Data Ethics at Engine B and Sarah Schlobohm, Data and AI Leader, discuss the skills accountants need to use it effectively.
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Article

ChatGPT will assume tasks, not take jobs

The rapid rise of generative AI models such as ChatGPT has led to discussions about what it might mean for the future of jobs. According to the EMEA AI lead at Microsoft, it’s an opportunity, not a threat.
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Webinar

Introduction to AI Standards

Understand how AI Standards, regulation and assurance combine to build and support industry and society.
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Understanding AI

Is AI really taking your job?
  • Article
  • 13 Jun 2024
Fresh analysis suggests AI skills could help to bridge the UK productivity gap with other nations.
What makes generative AI such a game changer?
  • Article
  • 23 Feb 2024
While older types of AI were in many ways process-based machines, Gen-AI displays strong signs of intuition, initiative and creativity. What does this distinction between ‘new’ and ‘old’ AI actually mean?
Glossary of generative AI terms
  • Article
  • 18 Sep 2023
Discover the key technical terms associated with generative AI and their meaning.
Introduction to AI Standards
  • Webinar
  • 14 Sep 2023
Understand how AI Standards, regulation and assurance combine to build and support industry and society.
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Generative AI

Free CPD: generative AI
  • Article
  • 09 Jul 2024
Generative AI is transforming many industries, including accountancy, but are you keeping up? These free CPD-verifiable articles will introduce you to the basics of generative AI, ways it can support you in your role and the pitfalls to watch out for.
Combating modern slavery: when Gen AI isn't enough
  • Article
  • 20 Jun 2024
Following his introduction to the iEARTHS’ artificial intelligence (AI) solution, David Wray discusses why causal AI was chosen over generative AI and how the team tackled bias and hallucinations.
Case study: ICAEW’s generative AI powered chatbot - MiaPlus
  • Article
  • 03 Jun 2024
Adam Thompson, Head of Digital Product & Experience at ICAEW, shares how ICAEW have implemented generative AI to improve member experience while using conversational chatbot MiaPlus.
Exclusive Gen AI: a Pandora's box of questions
  • Article
  • 13 May 2024
An examination of the intellectual property issues surrounding Generative AI, and how they might be addressed.
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AI skills for accountants

Government extends deadline for AI skills grants
  • Article
  • 04 Jun 2024
Accountancy firms now have until 18 August to apply for grants under the pilot of the government’s new AI Upskilling Fund, after the government extended the deadline by 11 weeks.
How generative AI is set to disrupt finance
  • Article
  • 20 Feb 2024
As its capabilities grow, Gen-AI is poised to shake up the finance function in general and accountancy in particular – but its risks and drawbacks cannot be ignored.
Finance leaders highlight AI skills shortage
  • Article
  • 15 Jan 2024
Resilience and efficiency is at risk as CFOs warn finance teams don’t have the necessary skills to embrace new technologies.
The era of the AI Copilot: are you ready?
  • Article
  • 12 Dec 2023
As we enter the ‘era of the Copilot’, described by Microsoft at the recent ICAEW Annual Conference, the way we work may change forever.
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Training

Innovating finance with AI
  • Course
A guide to digital technologies and their impact. This immersive course empowers accountants with strategies to implement key technologies like automation, AI and advanced analytics.
Generative AI for finance
  • eLearning module
Explore predictions where generative AI could disrupt finance, the value these solutions could deliver and the impact this could have on workers across finance.
Introduction to generative AI
  • eLearning module
Generative AI has the power to transform the way we work, learn and interact with technology. Discover what generative AI can do, how it works and how it differs from 'traditional' AI.
How to get started with AI
  • eLearning module
Understand the next steps to take on your journey to explore artificial intelligence and cognitive computing, and begin to think about the opportunities for your own organisation, through this video in our eLearning module.
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Use cases

How we applied AI to combat modern slavery
  • Article
  • 10 Jun 2024
The iEARTHS project is a causal AI system designed to tackle modern slavery. David Wray, ICAEW member and one of its creators, explains the considerations that went into its development.
AI in audit: the good, the bad and the ugly
  • Podcast
  • 30 May 2024
In this Insights In Focus episode, we discuss the use of artificial intelligence in audit.
Generative AI case studies
  • Article
  • 26 Jan 2024
Read our case studies on the use of generative AI in accounting.
How AI is blazing a trail in ESG reporting
  • Article
  • 08 Mar 2024
Businesses are seeking the aid of artificial intelligence to drive efficiencies in their ESG reporting work – but users should be aware of some crucial caveats.
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Managing risks

Exclusive Databases, Data Warehouses and Data Lakes for Accountants
  • Article
  • 17 Jul 2024
Accountants today rely on software like Oracle, Sage, Excel, and many other technologies to store important data and help generate financial statements and insights. This article provides a high-level overview of different data infrastructure used in accounting and how these fit into contemporary technology such as PowerBI, PowerPivot, Excel, APIs.
AI ‘will turbocharge cybercrime and fraud’
  • Article
  • 26 Jun 2024
Chief internal auditors are worried that AI is likely to fuel a surge in cyber, fraud and economic crime, according to a new poll.
How finance teams can use AI to drive growth and profitability, with Oracle
  • Webinar
  • 05 May 2024
Oracle explores how AI and Generative AI are impacting finance teams, but also the wider business. You'll come to understand the associated benefits and risks to be aware of, and how these are supported by appropriate data governance and risk management to ensure humans continue to stay in control and use AI responsibly.
Exclusive The role of Internal Audit in ethical AI
  • Article
  • 21 Mar 2024
As AI progresses and gains wider acceptance, ethical considerations become increasingly significant. AI introduces ethical challenges across various domains, including democracy, justice and diversity and inclusion. This article explores these considerations, the associated risks, and the role internal auditors can play in promoting ethical conduct.
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AI's limitations

Over-reliance on automation: a cautionary tale from Plato
  • Article
  • 27 May 2024
The dangers of too much tech are not a new concern – Konrad Bukowski-Kruszyna explains why accountants can take a sceptical cue from the ancient Greeks when it comes to AI.
AI in audit: the good, the bad and the ugly
  • Podcast
  • 30 May 2024
In this Insights In Focus episode, we discuss the use of artificial intelligence in audit.
Don't let AI tools land you in hot water
  • Article
  • 12 Feb 2024
In this article we cover some of the professional ethical implications you need to consider when using Generative AI tools such as Chat GPT.
Exclusive Don’t expect too much from AI, after all, it’s not only human…
  • Article
  • 04 Jul 2023
Whether you consider AI to be the beginning of the end for the human race, or a massive opportunity to improve all aspects of life and work, it’s been hard to ignore it recently. In this example Simon Hurst seeks the help of ChatGPT with a simple calculation and receives answers that are worrying, impressive and puzzling, all at the same time.
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Industry press

The Library & Information Service provides a hand-picked collection of industry press articles on artificial intelligence as a benefit of ICAEW membership.
Exclusive US Patent and Trademark Office issues guidance for artificial intelligence-assisted inventions
  • Article
  • 01 Jun 2024
An overview of the guidance recently issued by the US Patent and Trademark Office (USPTO), regarding artificial intelligence (AI) assisted inventions. The guidance emphasises that AI-assisted inventions are not categorically unpatentable, and that inventorship analysis 'should focus on human contributions'.
Exclusive Gen AI: a Pandora's box of questions
  • Article
  • 13 May 2024
An examination of the intellectual property issues surrounding Generative AI, and how they might be addressed.
Exclusive AI and inventorship: comparing patenting in the US and UK
  • Article
  • 13 May 2024
Courts in both the US and the UK have ruled that 'inventions' made by AI without human involvement are not protectable by patents, and that AI tools cannot be named as inventors on patent applications.
Exclusive After cloud providers, UK antitrust regulator takes aim at AI
  • Article
  • 12 Apr 2024
Sarah Cardell, CEO of the UK's Competition and Markets Authority (CMA), has expressed concern that existing tech giants are exerting undue control over the emerging market for AI-based technologies and services, making life harder for new entrants.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Useful links

Links to guidance and information from external websites on data analytics and big data
Generative AI and the future of the legal profession
  • Website
  • 13 Jul 2023
A LexisNexis July 2023 report into the views of UK legal professionals on using artificial intelligence (AI) tools within their firms. The report's findings included that clients want their law firms to adopt AI tools sooner than the latter think. Requires free registration to access.
State of AI in the Enterprise
  • Website
  • 22 Oct 2022

Deloitte's fifth edition of the survey of executives to their sentiments and practices regarding AI technologies.

See also: 4th edition; 3rd edition;  2nd edition.

Establishing a pro-innovation approach to regulating AI
  • Website
  • 18 Jul 2022
Policy paper from the Department for Digital, Culture, Media & Sport, Department for Business, Energy & Industrial Strategy, and Office for Artificial Intelligence on the UK's emerging approach to AI regulation.
A European approach to artificial intelligence
  • Website
  • 01 Apr 2021
European Commission hub page for Europe's approach to AI, focussing on 2 areas: excellence in AI and trustworthy AI. The main publications are Proposal for a regulation on artificial intelligence; Strategy on artificial intelligence; Coordinated plan on artificial intelligence 2021 review.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

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Free elearning on AI

ICAEW members can access four elearning modules examining AI, including Gen AI, its application and impact on the finance profession.
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Further resources

Support
Generative AI Guide

Explore the possibilities of generative AI in accounting through ICAEW's guide to Gen AI, covering use cases, risks, limitations, ethics and how to get started.

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Event
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AI and analytics live

Explore the vital role that data is playing at the intersection of the two most transformative topics facing organisations in a generation: AI and ESG.

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  • From £60+VAT
  • 15/10/2024 @09:30
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Data Analytics

Helping finance professionals develop the advanced data analytics and visualisation skills needed to succeed in this insight-driven era.

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  • Free and open to everyone