It’s Not (General) Intelligence … its functionality

Since the emergence of ChatGPT, the press has been full of discussions and fear that General Artificial Intelligence (GEN AI) is emerging and is of great danger to humanity. This discussion focuses on the narrow areas of accounting and auditing and discusses where what is called these days “Artificial Intelligence” (AI), and shows its capabilities, limitations, and prospective progress. Based on this scenario, it discusses a more generic view for the near future that may be extrapolated to other areas.

Miklos A. Vasarhelyi [Ph.D in MIS (UCLA) MBA (MIT) and BS in Economics and Electrical Engineering (the State University of Guanabara and Catholic University of Rio de Janeiro)]. Professor Vasarhelyi is currently the KPMG Distinguished Professor of Accounting Information Systems and Director of the Rutgers Accounting Research Center (RARC) & Continuous Auditing and Reporting Laboratory (CARLAB) at Rutgers University. He has published more than 300 journal articles, 25 books, and directed over 60 PhD theses. He is the editor of the Artificial Intelligence in Accounting and Auditing series and the co-editor of the the International Journal or Digital Accounting.. Professor Vasarhelyi is credited with the original continuous audit application and as the leading researcher in this field. The CAR Lab’s projects include among others AICPA’s Radar, Siemens, KPMG, P&G, AICPA, CA Technologies, and Itau-Unibanco. Prof. Vasarhelyi has been awarded the Outstanding Educator of the year by the AAA in 2014, AICPA distinguished scholar in 2018, notable contributions to the accounting literature in 2021, and the Wasserman award by ISACA in 2013. His current work includes continuous prediction and intervention expansions on the CA schema, blockchain, smart contracts, process mining, and several machine learning projects.