The Institute of Chartered Accountants of India (ICAI) has launched CA GPT-Industry Forum comprising of annual reports of 5,000 listed companies for the fiscal year 2023-24. 

This initiative of ICAI’s Committee on AI was officially unveiled during a live webinar held on Sunday and attended by over 10,000 chartered accountants from across the globe.

This powerful GPT integrates about 5,000 listed companies’ annual reports into the ICAI CA GPT platform, enabling CAs to access and analyse financial data with unprecedented ease. 

Available to 4 lakh members

The new facility will be available only to the 4 lakh ICAI members and not open to public access for now, sources said.

The reports, covering a wide spectrum of industries, are now seamlessly integrated into over 70 GPTs (Generative Pre-trained Transformers) across various industries, empowering professionals to perform complex financial analysis with a single click.

Commenting on the development, Ranjeet Kumar Agarwal, President, ICAI, highlighted the institute’s ongoing efforts to leverage cutting-edge technologies like AI, Big data, Machine Learning or other emerging technologies that are essential tools for accounting, auditing, taxation, management consultancy and other services that CAs provide.

“Our CA GPT Initiative has already begun to make a transformative impact. Launch of CA GPT has received widespread acclaim, providing chartered accountants with AI-powered tools for accounting, auditing and taxation. 

This industry-specific GPT, which includes analysis of annual reports from 5,000 listed companies, will be an invaluable resource, providing members with easy access to insights tailored to their industries and professional needs,” Agarwal said. 

Additionally, ICAI is also empowering the members with the requisite knowledge and skills to harness the transformative potential of AI in finance and accounting through a certificate course that provides professionals in-depth insights into AI-driven tools, data analytics and automation techniques, equipping them to navigate and lead in the rapidly evolving financial landscape, he added.

ICAI launched CA GPT on July 1, 2024 and made it available free of cost to all members. 

At present, CA GPT consists of 19 specialised GPTs that include 16 specialised GPTs (of various ICAI Committees), CA GPT - UAE VAT and UAE Corporate Tax dedicated towards digitising tax compliance and planning for members to navigate through UAE’s evolving tax landscape, Constitution of India - providing quick access to constitutional insights for enhanced legal compliance work and the recently launched Industry Forum. 

As on date, more than 70,000 members are actively using CA GPT and have generated over 2.5 lakh prompts. 

In July 2024, ICAI launched GPT for CA students also, providing customised tools for Foundation, Intermediate, and Final levels. 

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