How to Use the Three Types of Artificial Intelligence

Your firm will need to redefine its processes.

By Hitendra Patil
Rise of The AiCCOUNTANTS

Artificial intelligence (AI) is a rage worldwide now, and accountants are racing ahead to test/try out publicly available AI tools. AI-powered tools can potentially automate tasks outside the purview of the software solutions created by programmers. AI also has the potential to help accountants to better understand and analyze data, which is essential for helping their clients, and accountants themselves make better informed business decisions.

MORE: AI Means Clients Need You More Than Ever | Seven Changes AI Brings to Accounting | Humans Beat AI in Some Aspects | Why Accountants Should Embrace Artificial Intelligence | AI Brings Opportunities for Accountants | Seven Things You Must Know about AI
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All of you (almost) have already tried ChatGPT. But it is just one type of AI – a generative, large language model (LLM). As it is “language”-based, it can, right now, quickly help accountants enhance marketing and client communications.

Posted on February 4, 2024

Hitendra Patil

About the Author

Hitendra Patil is the president of the Global F&A and CPA outsourcing services unit of Datamatics Business Solutions, Inc., a global provider of outsourced accounting, bookkeeping, finance, tax preparation, audit & assurance, payroll and demand generation & data services.

He is one of the profession's leading authorities on accounting technology, accounting firm innovation, and client accounting and advisory services (CAS / CAAS) and among the Top 100 Most Influential People in Accounting, the Top 10 Accounting Influencers to Follow on Social Media, and the Top 100 Accounting Social Media Leaderboard.

He is the best-selling author of
“The Definitive Success Guide to Client Accounting Services.”

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and
"Accountaneur: The Entrepreneurial Accountant."

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For over 20 years, he has worked exclusively for the accounting industry, leading several functions, including accounting, payroll, tax, and advisory services and technology solutions used by professional accountants.

He is a regularly published author in many leading publications in the United States accounting profession. Accountants have bought his best-selling books in 12 countries across five continents. He frequently provides fresh thought leadership and actionable insights to the accounting profession about CAS/CAAS, practice growth, entrepreneurship in accounting, and emerging technologies, such as artificial intelligence, machine learning, blockchain, and cybersecurity.

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Patil's newest book is, "Rise of The AiCCOUNTANTS: The What, Why, and How of Artificial Intelligence – Exclusively for Accountants.”
Available here

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