ChatGPT in Accounting

Talked with the ChatGPT about IFRS Accounting...this is what I learned:

👍 AI is honest about its limitations: “As an AI, I don't have the ability to acquire certifications or become an expert in a specific field like accounting. My purpose is to provide information and assist with general queries to the best of my abilities based on the knowledge and data I have been trained on.”

👎 Answers might lack structure: ChatGPT can deliver a solid answer (I asked about an existence of a contract according to IFRS 15), but the structure is off (when asked about the principles in line with the IFRS Framework).

👎 Low to no reliability when asked about dates.

“Do you know when the new IFRS 18 has been published by the IASB?"

"I apologize for the confusion, but as of my last training update in September 2021, there is no IFRS 18 published by the International Accounting Standards Board (IASB).”

What are your accounting experiences with the ChatGPT?