Since the AI-based language model (Large Language Model, LLM for short) ‘ChatGPT’ became available to users free of charge in November 2022, the topic of artificial intelligence (AI) has become much more visible and well-known in the public. This chatbot has not only caused a stir in the media, but also in science, including accounting research. Companies in the financial sector are already working intensively on the integration of LLMs into existing business processes. It is essential, to recognize the new possibilities of LLMs at an early stage and to make sensible use of their potential in accounting applications. The use of ChatGPT & Co in the automation of routine tasks, in the processing of large amounts of data or in reporting, can significantly increase the efficiency and speed of processes and thus also save costs and time. The increasing pressure for efficiency in the financial sector means that it is becoming more and more relevant for companies to utilize their automation potential accordingly. Behind this background, the aim of this master's thesis is to identify the possible fields of application, as well as the opportunities and challenges, of LLMs such as ChatGPT in accounting. Based on existing literature, the topic of artificial intelligence (AI) and large language models (LLM) was first introduced and a market overview of LLM models was provided. In the next step, practical fields of use and specific application examples were identified and their opportunities and challenges were discussed. In order to gain initial insights how ChatGPT is suitable for practical issues and questions, a preliminary study was conducted in the form of an online survey. In addition to the assessment of selected problems and possible solutions in accounting, financial reporting and tax law issues, the acceptance of settings was also surveyed on the basis of the Technology Acceptance Model (TAM). The results of the quantitative survey show a positive overall picture. Nevertheless, the statements generated by ChatGPT show that the expertise of employees is essential in order to pass on correct information to clients or customers. The usefulness, user-friendliness and ease of use of ChatGPT were rated very positively. Under the premise that the use of ChatGPT in a professional context is constantly being optimized and further developed, it can be concluded that employees in accounting will be confronted with LLMs such as ChatGPT in the near future or have already been in contact with them.
ChatGPT & Co im Accounting
Kepplinger, S. (Author). 2024
Student thesis: Master's Thesis