ROCKFORD Ill. (WTVO) — ChatGPT has already proven its chops as a lawyer and businessman. Well, the artificial intelligence (AI) can add accountancy to its growing list of proficiencies.
According to a study published by Social Science Research Network, ChatGPT — an AI chatbot — successfully passed the Certified Public Accountant (CPA) exam. The chatbot averaged a score of 85.1 out of 100, and passed all four sections of the exam.
ChatGPT also passed the Uniform Bar Examination, the final test for prospective lawyers, by “a significant margin,” as well as Master of Business Administration (MBA) exam earlier in the year.
The consequences of a rapidly-advancing AI are unknown, but experts believe they are likely to be substantial.
“This high performance suggests ChatGPT has sufficient performance that it likely will prove disruptive to the accounting and auditing industries,” the study concluded.
“This is a very big deal,” wrote Wharton management professor Ethan Mollick in the Harvard Business Review. “The businesses that understand the significance of this change — and act on it first — will be at a considerable advantage.”
ChatGPT’s capabilities have grown substantially since its initial release on November 30, 2022. The AI previously failed both the CPA and Bar exams before the current version, GPT-4, passed.