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Generative AI

Support and guidance from ICAEW experts on generative artificial intelligence (Gen AI), its applications and its limitations.

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Generative AI: A brief introduction

Generative AI: A brief introduction

Artificial intelligence (AI) is evolving fast and its ability to imitate human capabilities is increasingly impressive, especially with developments in generative AI.
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Guidance

ICAEW has produced a guide to generative artificial intelligence to support accountants in getting to grips with this disruptive technology.
Opportunities and possibilities of generative AI
  • Article
Generative AI-enabled tools and capabilities are increasingly being used to augment human capabilities. For accountants, generative AI can help with a range of internal activities.
Risks and limitations of generative AI
  • Article
The potential for generative AI is immense, but there are risks that accountants should be aware of when deciding to adopt generative AI. Existing approaches to tech strategy and wider governance principles, practices, and processes may not be completely suitable for generative AI and may need adapting and strengthening.
Getting started with generative AI
  • Article
Many accountants will have access to products and services that can provide access to generative AI capabilities. Some will look to proactively embed capabilities. Whatever the approach, there are certain considerations and actions that anyone looking to adopt generative AI should take.
Using generative AI
  • Article
Discover what things you should consider when implementing and using generative AI.
Prompt engineering
  • Article
One of the key topics of discussion around generative AI is prompt engineering; how to ask LLM bots the right questions to get the detailed and accurate response you are looking for.
Dos and don'ts of using AI
  • Article
Finance professionals cannot grasp the opportunities offered by AI, unless they are able to understand, identify and manage the associated risks. Here’s our handy guide to what you should and shouldn’t be doing with AI…
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Articles

Masterclass 4: Understanding differences in reporting standards
  • Article
  • 20 Nov 2024
Jenny Blewett FCA, Head of Finance at Costello Medical shows how she has used generative AI to help her transition from reporting under IFRS to UK GAAP.
Free CPD: generative AI
  • Article
  • 13 Nov 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.
Masterclass 3: Making audit sampling more efficient and effective
  • Article
  • 13 Nov 2024
Konrad Bukowski-Kruszyna ACA, Head of Audit Data Analytics, RSM UK outlines how generative AI can help members in practice ensure that audit sampling is being handled correctly.
Government tests AI chatbot for tax and other questions
  • Article
  • 12 Nov 2024
Following an initial phase of testing, up to 15,000 people will now be able to ask the government’s generative artificial intelligence (AI) chatbot for help and information on business rules and support, including tax, as part of the current testing phase.
Masterclass 6: Reviewing control processes
  • Article
  • 31 Oct 2024
Jenny Blewett FCA, Head of Finance at Costello Medical talks about how she used generative AI to help check her firm’s banking controls when she was new in post.
Masterclass 5: Moving from Excel to Power BI formulas
  • Article
  • 30 Oct 2024
Jenny Blewett FCA, Head of Finance at Costello Medical explains how she used generative AI to help her move data from Excel to Power BI to give senior management a very different view of debt risk.
More AI articles

Recordings

How finance teams can use AI and Generative AI to drive growth and profitability, with Oracle
  • Webinar
  • 08 May 2024
The opportunities and potential risks of Generative AI in finance.
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.
Mastering the art of AI prompt engineering
  • Webinar
  • 19 Mar 2024
In this webinar, Shamus Rae, Co-Founder and CEO at Engine B, will be exploring the art of prompt engineering when using and working with generative AI.
Transforming retail exploring gen AI
  • Webinar
  • 03 Nov 2023
Hear from Jacqui Baker, Head of Retail at RSM UK; Ben Bilsland, Partner and Senior Analyst for Tech and Media at RSM UK; and Jonny Oliver, CFO of The Very Group, as they dive deep into the world of Generative AI and explore its potential impact on retail businesses, the regulatory landscape surrounding its use, and how the technology might evolve in the future.
More AI recordings

Use cases

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.
Just what is an AI co-pilot? A practical guide
  • Article
  • 23 Apr 2024
A new generation of digital assistants are promising accountants enhanced speed, accuracy and efficiency, but will they live up to the hype?
PwC adopts AI co-pilot for tax support
  • Article
  • 15 Mar 2024
AI assistant will provide support to more than 2,000 PwC employees in the UK, with further potential to plug directly into clients’ tax functions.
Exclusive A practical application of AI: Building a Technical Director GPT
  • Article
  • 27 Mar 2024
Dudley Gould, VP of Business Development at Circit, explores how ChatGPT can be used to build a customised technical GPT and discusses how and when accountants and auditors might use generative AI.
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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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Further resources

Resources
Artificial intelligence
Artificial intelligence

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