ChatGPT vs. CPAs with Professor Nick Hallman

March 22, 2023

What impact can AI have on the accounting and advisory professions? Is there a way to utilize AI for your practice, but still position your business to be AI proof?  In this episode, Tom Wheelwright and Professor Nick Hallman explore how to adopt AI and increase profits and productivity while reducing costs.

Order Tom’s new book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/

SHOW NOTES:
00:00 – Intro
05:58 – What is ChatGPT? What is it actually doing?
08:30 – What are the biggest concerns about AI and how it might affect the industry?
12:35 – How is AI similar to Excel in its evolution in Accounting?
15:50 – What roles can we expect to be eliminated in our firms?
22:48 – Can AI possibly help the IRS with taxes? If so, how?
26:25 – What situations can we see ChatGPT providing better service to clients?

Looking for more on Professor Nick Hallman?
Website: https://www.njhallman.com/