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| 1 minute read

BackOffice Zero: Beware AI...Chat GPT

Possibly something out of HG Wells "War of the Worlds"... enter Chat GPT.  Yes, that openAI platform has inspired the invasion of the ChatBots. If you give it a try yourself on the Google platform, you will be amazed by the ingenuity and speed of response.  

In reality, the impact of trained bots has taken hold a lot faster than most people think. Some of the reduction in clerical labor you hear about is in fact the use of AI trained bots to replace human activities. If you take a walk into the future, it would not be out of the realm of reality to see dramatic reductions in finance back office roles impacting many if not all of the finance operations functions. Even the highly analytical roles such as FP&A and business intelligence functions will be impacted. Stay tuned in on this topic and frankly explore the possibilities for your businesses and clients. If you can have autonomous vehicles... watch the sky for the chatbot invasion!

© Copyright 2023. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.

What’s new is the pace of this automation. Machines are now becoming faster, better, and cheaper than humans at an alarming rate. As a result, we’re seeing a fundamental shift in the economy where machines are starting to do the creative jobs of human beings.


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