Welcome to the ICAEW generative AI guide

Michael Izza, ICAEW Chief Executive:

“Technology is evolving fast and is impacting the role of accountants. Our profession must continue to engage with technological change and ask the relevant questions so that we can embrace the opportunities and manage the risks.

Artificial intelligence is already helping improve the efficiency and quality of our work, including through automating administrative tasks and helping identify fraud and audit risks. Now, generative AI can provide opportunities for further improvements.

Among all the hype, accountants must remain grounded and seek to build their understanding of this new technology, including its basic principles, applications, limitations and ethical considerations.

This guide has been developed by ICAEW Tech with input from other technical experts, to help you explore the use of generative AI, including identifying opportunities for where it can be used effectively. I hope you will find it a useful resource on your generative AI journey.”