A trio of innovative Maryland CPAs and former MACPA board members led a conversation during the MACPA's monthly town hall meeting on July 23 that focused on practical uses of artificial intelligence for accounting and finance professionals.

The conversation included insights and advice from GWCPA Managing Partner Samantha Bowling, GWCPA Partner Barrett Young, and Bridgeway Community Church CFO Tim Samuel.

If you missed the meeting, here are three key takeaways.

1. What do you want to build? AI can help.

Bowling gave everyone on the GWCPA team access to ChatGPT and instructed them to use the technology to create standard operating procedures for each department. She then combined all of the SOPs into a comprehensive virtual employee handbook. Next, she created a custom GPT called SOP Navigator that allowed employees to get nearly instantaneous answers to their questions.

Her point: Whatever you want or need to build, AI can help.

"I use ChatGPT every day. I can’t think of anything I don’t use it for," Bowling said. "It’s my best friend — the personal assistant I’ve always needed and never had."

2. surprise your clients with extra value

GWCPA used ChatGPT to package the firm's tax, valuation, and succession planning expertise into a custom GPT called GWCPA Generations Advisor, which the firm gave away to its clients. "They no longer have to call us for this basic information," Young said. Instead, clients can use Generations Advisor to find the answers themselves.

3. you're already smart. AI will make you smarter.

Whether it's writing basic e-mails or reviewing complex returns, AI will help you improve in the areas where you already excel.

"One of my favorite questions to ask ChatGPT is, 'What am I missing here?'" Young said. "It's all about finding ways that AI can make me better at the things I'm already good at."

The key is consistency. "Daily practice is where you'll see the most benefit," he said.

… and a bonus takeaway

"I never set out to build AI tools. I set out to solve real-world problems for people I care deeply about," Samuel said. The only limit to AI's potential, he said, is our own imagination.

"Have fun, learn something new, and give it a shot," Samuel said. "Sometimes (AI) adds extra fingers; other times it captures the vibe with unexpected wonder."

Learn more here

If you'd like to watch the July town hall meeting in its entirety, it will be replayed at 9 a.m. ET on Aug. 8. Get details and register here.

Resources

• Download the slides from the July meeting.
• View the results of our polling questions.
• Watch past town halls (without CPE) at MACPA.org/new-townhalls.
  
  
• MACPA's AI resource center: Your gateway to the artificial intelligence resources that will improve your work as a CPA. Access the resources and events here.
  
  
• AI Learning Program: This immersive education experience is designed for CPAs and accounting professionals, offering a cohort-style education with an interactive and hands-on approach to mastering AI in the context of accounting. Check out the schedule of upcoming courses here.
  
  
• AI Foundations: Self-study: AI is already reshaping accounting. But many accountants are wondering where to begin. Our AI Foundations course gives you practical, hands-on training to teach you how to use AI in meaningful ways. Get details here.
  
  
• Give your tax practice an AI boost with Blue J: The MACPA has partnered with Blue J, a GenAI tool that empowers tax professionals to research expertly, draft instantly, and achieve superior client outcomes. Watch a demo and get preferred pricing here.