4 ms·
There is a reason why corporations aren’t letting LLMs into the accounting department.
by cgh 1y ago
There is a reason why corporations aren’t letting LLMs into the accounting department.
- sriram_malhar 1y agoThat is not true. I know of many private equity companies that are using LLMs for a base level analysis, and a separate validation layer to catch hallucinations. LLM tech is not replacing accountants, just as it is not replacing radiologists or software developers yet. But it is in every department.
- suddenlybananas 1y agoThat's not what the accounting department does.
- sriram_malhar 1y agoNot sure what you think I mean by "that". The accounting department does a large number of things, only some of which involves precise bookkeeping. There is data extraction from documents, DIY searching (vibe search?), checking data integrity of submitted forms, deviations from norms etc.
- jdietrich 1y agoSuddenlybananas appears to be unaware of the field of management accounting.
- lazide 1y agoDon’t bet on it. I’ve had to provide feedback on multiple proposals to use LLMs for generating ad-hoc financial reports in a fortune 50. The feedback was basically ‘this is guaranteed to make everyone cry, because this will produce bad numbers’ - and people seem to just not understand why.
- renewiltord 1y agoThis is false. My friend works in tax accounting and they’re using LLMs at his org.