The Institute of Chartered Accountants of India (ICAI) has collaborated with OpenAI to develop the CAGPT, a fenced GPT that operates without external resources. This tool, after successful beta testing, is now officially launched and available to ICAI members. Another version of the GPT, tailored for students pursuing CA courses, has also been introduced.
The CAGPT is equipped with data accumulated by ICAI over the past 75 years, enabling it to provide answers to a wide range of questions, both simple and complex. Over 30,000 ICAI members have already utilised the GPT, and the institute is actively encouraging wider adoption to harness the potential of Generative AI. To facilitate this, ICAI has launched an 18-hour, three-day certificate course to train members in using GPT and other AI tools. Plans are also in place to introduce two advanced courses in the near future.
Access restricted during exams
While access to the GPT will be restricted during examinations, ICAI is committed to integrating technology into its core curriculum. The institute is also planning to publish various use cases to demonstrate how members can effectively incorporate Generative AI into their practices. Additionally, Season 2 of a hackathon will be initiated, inviting innovators to address content-generation challenges faced by ICAI members.
In October, ICAI will host a similar conference in San Francisco, emphasising the importance of AI skills for Chartered Accountants. The institute is also in discussions with the Ministry of Electronics and Information Technology (MeitY) to develop an AI Audit tool aimed at monitoring corporate books and detecting potential fraud.
The two-day conference will cover a broad spectrum of AI-related topics, including adoption challenges, the future of technology in accounting, upskilling CAs in the AI era, cybersecurity issues, effective prompt usage, and AI in forensic audits.
