Why You Must Start Using ChatGPT Today...

Today, I want to share with you why every accounting firm should be using ChatGPT, and I'll also share five things that it's great for to help you get started.

The Power of ChatGPT

ChatGPT is incredible. Launched in November 2022 to the public, my team and I have been using it every day and it's saving us hours of time! Think of it as your virtual personal assistant, your new team member. There are some things that it can do that are extraordinarily good.

The bottom line is, you should be using it… Firstly, it's going to save you money! You can hire fewer people because ChatGPT can do stuff far quicker and more effectively than people if we use it for the right things in the right way. But ultimately, what it really does is it saves you time. Huge amounts of time! It's my go-to place for creating content and coming up with ideas.

Five Things ChatGPT is Great For

Let's dive into the five things that ChatGPT is particularly good at, especially for us in the accounting profession.

1. Content Creation

The first thing is content creation. From a marketing point of view, it's great for creating eBooks, blog posts, social media posts, etc.

You can also use it to create any other form of content, such as reports for clients. It's really good at this!

2. Ideation

The second thing that ChatGPT is awesome at is ideation, AKA coming up with ideas.

If you want some strategies to help you build a more successful firm, put it into ChatGPT and see what it comes up with. If you want ideas for content, for things like what blog post could you write, or if you want to create some training videos or live streams, you could get ideas for what the content might be.

3. Data Analysis

A third thing it's very good at is data analysis. As an accounting professional, you're using numbers all of the time, and ChatGPT is very powerful at this.

4. Text Analysis

It's also great with text analysis. Summarising an article, spotting errors, spotting spelling mistakes, grammatical errors etc. There are so many different ways that you can use it for analysing a piece of text and then giving you suggestions, improvements, summaries, and so on.

5. Coding

The fifth thing, and this might not seem relevant to you at first if you are an accounting professional, but one of the things that ChatGPT is particularly good at is coding. I know that coders are going crazy over ChatGPT. It's extraordinary how good it is at coding.

But even if you're an accountant and you don't do coding, one of the things that you possibly do use, being a numbers person, is something like Excel or Google Sheets. ChatGPT is very good at helping you with things like formulas and even writing macros in Excel.

You absolutely need to be using ChatGPT…

ChatGPT is going to save you money and, more importantly, it will save you hours of time. It's great for certain things like content creation, coming up with ideas, data analysis, text analysis, and coding.

But you must be aware of the weaknesses. In my next blog post, I’ll be going over the weaknesses that you need to look out for.

If this is a topic that interests you, my team and I recently wrote an eBook all about ChatGPT for Accountants and Bookkeepers. It’s full of tips, advice, and worked examples. You can download your FREE copy here.

If you want to keep learning more about AI and ChatGPT, you can join a community of Accountants and Bookkeepers learning together in our Facebook Group here: www.facebook.com/groups/aiforaccountantsandbookkeepers

And finally, you can watch the full video on this topic here.

If you found this valuable and would like to learn more about value pricing, I run a free live online training session every month with a topic chosen by you. Attend live and you can ask me any questions you have. Click here to register and I will send you an invitation to the next session.

Wishing you every success on your pricing journey

Mark Wickersham

Chartered Accountant, Public Speaker and Author of Amazon No.1 Best Seller “Effective Pricing for Accountants”