INTHEBLACK November 2023 - Magazine - Page 24
P O D C AS T
WITH INTEREST PODCAST
The With Interest podcast features economic updates and developments
for the business world. Here are some highlights from a recent episode.
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BUSINESS TECHNOLOGY REPORT 2023:
AI AND CYBERSECURITY
In this podcast episode, Gavan Ord, business investment policy manager at CPA
Australia, answers questions about AI and accounting. Ord breaks down CPA
Australia’s Business Technology Report 2023, a survey of technology used by
businesses across the Asia-Pacific region.
GAVAN ORD,
CPA AUSTRALIA
CHATGPT AND BUSINESS
“We know that many members, many
accountants, are using ChatGPT or at
least experimenting with it. I think what’s
holding businesses back from using more
AI, like ChatGPT, is that it’s not really the
right product in a business environment.
“You shouldn’t be putting confidential
business information into ChatGPT. For
this reason, ChatGPT is probably not the
right AI tool for many businesses. Now,
that doesn’t mean that those businesses
are digital laggards or AI laggards – many
of them are just looking for a more secure,
business friendly AI tool.”
BENEFITS OF AI
“There will be people out there who have
seen tech fads come and go. However, AI
has been around for some time. It’s just
that ChatGPT is actually new.
“Survey data shows that those who
are using AI are finding the benefits for
their business. The world’s largest tech
companies are pouring billions into the
development of AI tools.
“AI will only get better, and its ability to
improve business will only grow, so it is
here to stay.”
24 INTHEBLACK November 2023
AI BUSINESS STRATEGY
“First, businesses should be looking at
developing and implementing a digital
transformation strategy, and that’s really
about how they’ll move from their current
technology state to where they want to
get to. “If they don’t know how to do that,
there will be external advisers who can
help set up that strategy.
Second, identify areas where AI can
enhance operational efficiency, lower costs
and improve the customer experience.
Also, be conscious of the risks that AI has.
The data can sometimes be misleading.
There can be inherent bias within AI, and
there are obviously ethical challenges
around AI.
“You really just still need to focus on
cyber security. There’s no use to make a
big investment in digital technology and
not make the commensurate investment
in cyber security.”
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to the full
podcast episode
