openai, the creator of the wildly popular artificial intelligence (ai) tool chatgpt, conducted a research study with the university of pennsylvania. it identified the occupations with the most significant impact potential because of large language models (llms, like chatgpt). among the occupations with the highest exposure to ai are accountants, auditors and tax preparers!
an artificial intelligence-powered tool, it is one of the first that allowed people to directly interact with ai in a familiar way how we use chat functions on mobile phones and websites. this ease of access and usage gave it a huge fan following. moreover, it triggered a tsunami of new ai tools emerging all over the internet. read more →
are green energy sources now more economical than fossil fuels?
by rick richardson
technology this week
according to a recent study, solar power, also called photovoltaics or pv, is expected to overtake all other power sources globally by the year 2050. the analysis shows that even in the absence of extra climate legislation, the change is likely to happen, yet at least four obstacles might impede solar energy’s growth and guarantee the continued use of fossil fuels.
“historical policy to stimulate solar pv has brought down costs. we’re now at the point that a virtuous cycle between cost declines and additional deployment doesn’t require more ambitious policies targeting solar anymore,” says study team member femke nijsse, a climate and energy systems researcher at the university of exeter in the uk. “more ambitious policies for other renewables [are] still needed.”
editor’s note: every year, the rosenberg map survey asks the industry’s top consultants to share their observations from cpa firms across the country. how do you think the next 12 months will unfold? also, how would you assess the last 12 months?
positive optimism: barring an even larger international political crisis in the next 12 months, the opportunities within the accounting profession for firms both providing traditional compliance services and those that have expanded into advisory practices will simply be phenomenal! from a technology perspective, the evolution of artificial intelligence capabilities within accounting applications for process automation will be the most significant trend and while there will be a lot of early hype, good solutions will be able to prove themselves out fairly quickly.
watch for what microsoft does with copilot and integrated virtual assistance within excel, outlook, their edge browser and, in particular, microsoft teams. then start watching what individual accounting profession applications start integrating virtual assistance tools for tax research and projections, audit work program assistance, and use of tools to acquire and analyze accounting data and reporting, and the breadth of practical opportunities will start to unfold. read more →
new mobile virtual and augmented reality devices are coming soon, thanks to the fcc’s ruling.
by rick richardson
technology this week
on the same day it voted to restore net neutrality laws, the fcc unanimously approved plans by several tech companies to use the 6ghz range for wireless devices.
fcc chair jessica rosenworcel suggested the new regulations, and they would allow meager power (vlp) operations – which means their signals won’t be able to travel very far – in about 850 mhz of the spectrum. under the regulations, devices may “use higher power levels” if they are geofenced to avoid interfering with genuine permitted 6ghz usage. additionally, the fcc will be accepting opinions on ways it can increase the use of the 6ghz spectrum by technological devices.
black ore emerges from stealth with $60 million in funding to launch tax autopilot, an “autonomous” tax prep app for cpas and accounting firms.
by 卡塔尔世界杯常规比赛时间 research via black ore
black ore.ai, an austin, texas-based ai platform for financial services, bolts out of the gate with $60 million in financing led by a16z and oak hc/ft. the company plans to use the funds to onboard new customers, grow its team and accelerate the development of additional ai products across financial services.
kapovskishinar
black ore was founded by veteran entrepreneurs, ceo eyal shinar and cto pavel kapovski, who have proven track records building and operating global fintech brands with ai and machine learning technologies. shinar previously founded fundbox, a $1 billion fintech unicorn powering payments and lending solutions for smbs. kapovski previously led r&d at cme group and spearheaded the development of machine-learning technology used by globally regulated banks and financial institutions. they are joined by a powerful team from leading companies such as adobe, baker tilly, cisco, ey, google, goldman sachs, grant thornton, nasa, pwc and ramp.
black ore offers an ai and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients. as part of its launch, black ore also announced its flagship product, tax autopilot, which combines its proprietary ai technology with federal and state tax codes and regulations to simplify the tax preparation and review process for cpas and accounting firms. future product offerings will target wealth management, financial advisory and planning, insurance services and more.
the philanthropist offered three ways to fix america’s math issues. by rick richardson
technology this week
when bill gates was in eighth grade, a teacher asked him why he was “so lazy” in math class. he responded, rather boldly, that the class was “not doing anything interesting.”
the co-founder of microsoft and philanthropist is quite talented at math and likes it, but he also admits that math is “america’s least favorite subject.”
in essence, gates claims that math education hasn’t advanced to match the pace of society.
tax and accounting pros share their thoughts, both negative and positive.
by 卡塔尔世界杯常规比赛时间 research
early results of the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey are finding practitioners cautiously optimistic about the potentials of artificial intelligence.
a lot more respondents see ai having a positive impact on their firms rather than a negative impact, but the vast majority – 67 percent – admit that they just aren’t sure.
twelve percent say the impact will be “very positive” as it increases efficiency, and another 17 percent are pretty sure the impact will be “somewhat positive.” only 4 percent fear a negative impact. read more →
check out these three reads to understand ai and how to leverage it for business. by rick richardson
technology this week
science fiction author arthur c. clarke once said, “any sufficiently advanced technology is indistinguishable from magic.” yet artificial intelligence isn’t magic, and you don’t need to be a computer scientist to understand how chatgpt works.
workflow. tasking. these two words are thrown around quite a bit and sometimes they are used interchangeably. so, let’s get this part defined a bit more.
workflow definition: noun, the sequence of industrial, administrative or other processes through which a piece of work passes from initiation to completion
tasking definition:noun, a piece of work to be done or undertaken
verb, assign a piece of work to
workflow is always a noun and tasking can be either a noun or a verb. no wonder people get this confused. read more →
artificial intelligence is entering accounting in numerous ways, so it should be no surprise that another company has thrown its hat in the ring to automate the bookkeeping and related processes for accounting firms.
after closing on a $3.6 million seed round, basis, which touts itself as an ai platform for accounting firms, is officially coming into the accounting market. the idea behind basis is that accountants can have ai-powered “intelligence” so they can (wait for it …) focus on being better advisors and not the “tasks” of being an accountant. read more →
imagine driving across america and not stopping for gas. by rick richardson
technology this week
a substantial advancement in battery technology has been made in the quickly developing field of electric vehicles (evs), offering an unparalleled increase in energy storage capabilities. this finding couldn’t have come at a better moment, given the exponential rise the electric vehicle sector is currently experiencing.
the energy storage capacity of batteries can now be increased tenfold according to a ground-breaking method developed by researchers at the pohang university of science & technology (postech). this invention could change the face of the entire electric vehicle market in addition to advancing battery technology. here’s how:
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tax and accounting pros share their thoughts, both negative and positive.
