While artificial intelligence is not new technology, it has entered our daily lives with ferocity since ChatGPT became available in November 2022. AI tools have the capability to generate text, images, and even video, synthesize long pieces of writing, and even help you find your stuff on a computer or in your database.
That being said, professionals in the AI field are fond of saying, "Today's AI is the dumbest AI we'll ever see." So how are CPA firms supposed to decide how to implement AI when the technology is growing and changing so rapidly? How do firm leaders move confidently while there is still more to learn about AI and its pitfalls?
Wherever your firm is on the journey of embracing AI, it's important to have an AI policy. Creating a policy will help everyone at the firm understand how and when to utilize AI tools, while giving them confidence that the firm is paying attention to this growing technology. Additionally, the process of developing a policy will build institutional knowledge around AI and hopefully demystify some of the questions you may be asking.
Still feeling resistant? Remember, your team members are out there learning about this on their own. Plus, colleges and universities are dealing with this now. As people graduate in the field starting this year, they will have experience using AI and will not only expect access to these tools, but also guidance for using it. Today's employees are hungry for ways to streamline tasks and processes so that they can focus their time, attention and development on improved client services and challenging work.
Create an AI committee
No one person knows everything about AI, and there's no right way to be using it. Instead of copying and pasting a policy from the internet and hoping it applies to your firm's work processes and covers your privacy expectations, start a committee that can dive in and come up with guidelines that will help your firm use AI tools to reach your goals.
Invite team members who are excited about AI, as well as those who are wary and would like to gain a better understanding of what it can do. Today when it comes to AI, you probably don't know what you don't know, so the committee should spend time doing their homework.
Having a committee also signals to the firm that this is not a bunch of rules that will get photocopied into the handbook and dusted off in 10 years. This group of people will be continuously looking at opportunities to improve the way you choose tools, implement them and mitigate risk, as well as keeping the firm in-the-know when it comes to the latest capabilities. They can respond to questions and concerns and look into issues as they arise.
What should the AI policy cover?
Remember, AI is here to stay. So, while we're seeing some organizations have a "no AI" policy, they're really not doing themselves any favors.
First, we're all already using AI. It's built into our search engines, word processing software, and even services like Canva and HubSpot. That means, you're already in the AI pool, even if it's the shallow end.
While each firm needs to decide how they are going to use AI in a responsible way, here are a few questions your AI committee can think about as they develop policies and recommendations.
- What tasks could we take off people's plates if we had a tool they could use instead?
- What sources will we use to educate ourselves about AI and the tools that are out there?
- How will we select, test and evaluate new tools?
- What is our budget for AI tools?
- How do we maintain our privacy policy when using AI?
- How will we know if a tool's terms and conditions meet our guidelines?
- What responsibility do we have to inform our clients about using AI?
These questions are just a jumping-off point to get you and your committee thinking about the opportunities and implications of AI. You will surely raise even more questions during the process!
Where to focus first
I may be biased, but I happen to think marketing is a great place to get started with AI. Marketers have a wide range of tools to choose from to help do their jobs better, more efficiently and, ultimately, with greater sophistication. Marketers can do their work while avoiding sensitive information, and there is likely already a process in place for reviewing work before it is shared publicly.
Plus, based on the number of marketing tools being created and improved upon every day, it's pretty clear that creatives are eager to implement this new technology. Your marketing team will likely be excited to be part of this experiment and would make excellent members of your AI committee.
In conclusion
I recently attended a webinar led by attorney John Weaver of law firm McLane Middleton. John is the chair of their artificial intelligence practice, and has worked in the field for 10 years. He started the way he starts all of his presentations on AI by saying, "Everything is going to be OK."
And he's right! AI is a technology that will help us serve clients, perform better and even lighten the load at times. It's OK to be overwhelmed now, but the sooner your firm takes an active approach to AI, the more that feeling will dissipate, and it will become just another part of doing business.
