The AI has caught the imagination of Chartered Accounts and students pursuing the course with the Institute of Chartered Accountants of India (ICAI).
That CAGPT and CAStudentGPT are registering over one lakh prompts (or queries) a day in just six weeks of the launch reflects the enthusiasm among the professionals and students on the answers generated by the ‘ringfenced’ GPT.
The ICAI has got more to offer on the AI front. The institute seeks to integrate case laws from relevant departments such as the CBDT and NCLAT and integrate with the exclusive GPT to enhance the scope of queries and answers.
Currently, the CAGPT comprises all the statutes and content developed by the institute over the last few decades, allowing the members to ask a variety of questions and get comprehensive answers.
“There is a huge interest on the first-level certification AI Certification course that we have launched recently. We have completed seven batches of 50 participants each.
The three-day programme would expose the members to the basics of AI and on how to use the CAGPT. They can become trainers to other members,” a Central Council Member of ICAI said.
Addressing the Coffee with CAGPT webinar on Sunday, he said the institute prepared a 300-page digital document with how-to-use material and case studies on how to effectively tap the Generative AI engine.
The interactive session brought together members from India and abroad, demystifying AI and showcase its potential to enhance the efficiency and effectiveness of chartered accountants.
Meanwhile, members from ICAI’s international chapters have asked the institute to develop country-specific GPTs, customising it to the local requirements to help them tap the AI potential in the profession.
Three-Phase AI courses
While the first-level certification programme is aimed at equipping the members and students with the basic AI skills, the subsequent phases would help them help their clients use their clients, and to automate the auditing processes.
“In the third phase, we will be teaching them computer programmes such as Python and ‘R’ (statistical and analytical programme). This will help the professionals to automate the auditing processes and increase the quality of auditing,” he said.
ICAI’s commitment to upskilling its members is evident in its three-phase training program focused on AI. The program has already seen seven batches of 50 chartered accountants complete the basic course.
This initiative equips members with essential AI skills and knowledge, empowering them to leverage AI tools in their professional practice. Additionally, participants who have completed the training can become trainers themselves, further extending the reach of AI knowledge within the ICAI community.
Insights from the industry
To further enhance the AI offering, the institute has opened a new tab on its AI website – IndForum, calling for the insights from the industry stakeholders.
“We, the auditors, don’t have the full view of a client’s industry. Our counterparts in an organisation (CFOs and other key executives) are experts on their respective industry domains. Their insights would help enhance our horizon and improve the quality of auditing,” he said.
As more and more industries join the initiative, the tab would segregate the information along different verticals such as cement, manufacturing, information technology and IT-enabled services.