LAB-P-2407. Using Generative AI: Here’s How the Competition is using Generative AI to Unlock Above Market Profitability, presented by Truewind.ai (TCH, NAA)

The next decade of accounting will be dramatically different from the last decade. Generative AI is leveling the playing field in the competitive world of accounting. By leveraging this new technology, accounting firms can get more done with the same headcount, while internal accounting teams can close the books faster and help guide the company. During this session, attendees will fully understand the nuances of this new technology, what it can and cannot do, and how to build an AI strategy. We will go through case studies of how CAS practices use generative AI to unlock productivity, faster monthly close, and enthusiasm for new technologies. Generative AI is a generational paradigm shift in technology; come hear from the team who has been there right from the start.

Learning Objectives:

• Recognize the capabilities and limitations of generative AI, specific areas where it excels, such as language processing and image generation, and where it falls short, such as displaying empathy
• Apply a robust AI strategy, which involves identifying key opportunities for AI integration, assessing technological readiness, and implementing governance to manage risks
• Analyze the ways generative technology can make a significant impact on an accounting firms and an internal accounting teams' productivity, unit economics, and overall performance