AI is able to draft assessment orders. AI can keep track of assessments. AI can advise on validity of assessment order. AI will help to find out the relevant judgements for reference and will provide probability of success in the case. Accordingly clients and legal practitioners can save time and money. Due to help of AI unnecessary research time will be saved.
Accounting is about record, summarize, analyse and interpret financial data AI might perform recording and summarising part but the day it can perform analysing and interpreting entire economy might collapse asa huge number professionals (including CA, lawyer, engineers doctor,etc) will loose jobs hence buying power will decrease significantly bringing economy down 😔
Definately AI can't replace CA's but it can definately affect the amont of CA's a firm or a company required to do their job because now their productivity is increased.
00:03 AI will impact the future of Chartered Accountants in India. 01:22 AI will revolutionize financial auditing and stock analysis 02:35 AI is transforming vouching, verification, and auditing processes. 03:41 AI automating report generation and document matching in tax processing 04:43 AI can automate tasks like data entry in Excel, but cannot replace fields requiring human knowledge and public communication. 05:45 Certain fields involving communication and experience won't be replaced by AI. 06:49 AI can assist in data analysis but won't replace complex problem-solving 07:51 AI will not replace human beings or CA's, but those who do not utilize AI effectively.
Tf are you talking about. Wake up to reality kid. AI is able to solve biggest math problems, recently launched Sora ai can create videos. And you say it cannot understand taxation?
@@Ananatha.Raajeshh.Temkar I am in foundation so I know almost nothing about ca that's the reason I am watching these videos to find out reasons why ai cannot replace chartered accountants but no one is telling me this. Please tell me something 🥺🙏. And also tell me if ai will increase the scope of ca or reduce it in future. Please tell it will mean a lot
@@Ananatha.Raajeshh.Temkar accept the fact that u donno much about AI and don't underestimate anything compare AI ability in 2021 to 2024 ull see how fast it has grown...
The Signature of a CA is always required on Audit report....then only it is a valid Audit thus I think that the Core domain of a CA is never gonna be replaced
yes one thing is how can we rely on that automated data that presented by AI.so we need to cross verify those data it means there will be big scope in audit in automated environment
A common sense is if AI replace all the stuff then there is no human transaction, if there is no human transaction there are no jobs and eventually economy vanished.
It's not only about CA.. if AI can become so advanced as to take over jobs of CA then it will also be adequately equipped to cause a decline in number of all kinds of jobs ,say engineers ,doctors , and with better judgemental abilities even management and decision making.. Since AI is capable of learning by itself it will take over all the digital jobs then those that require mental work and slowly with development of robots for it's body structure, even physically intensive work.. if you want to be safe for a long time ,you may start with farming/agriculture ,atleast as a part time 😅
Sir, i have a question If someone use chatgpt and share sensitive data with it and is there any chance of leakage of sensitive data to the competitors.
Were you having the knowledge of these much things at the completion of CA inter level ? (currently where i am and having dizziness by listening to these much complicated jargons )
AI will do 90% of work of CA. This is AI era, knowledge is zero value but right skill has always value. For skill you need knowledge. It's better to look other path.
Yeah ppl still assume AI as a chat bot where as we are in a phase between Artificial narrow intelligence and artificial general intelligence....still we didn't reach AGI and these dumbo don't know what ASI ( Artificial Super Intelligence)can do .
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Very good information sir can you tell me are you topper in ca sir and your skills exellent and still now which company are you doing the job plz tell me
I would suggest you do cma instead which is less riskier and is also safer. The ICAI is a stubborn institute living in the 90s thinking they are the epitome of finance when they cannot even give out a book without mistakes or conduct the exams properly. The CMA india course is also equal to the CA course although the skillset is different but you can clear it in 3 years. Along the way you can pick up additional courses and improve on much faster than giving attempt over attempt and wasting your time and money. It is highly underrated course like the CS because of low exposure. If you do become a CMA , you can give another exam and join the ICAS as an Assistant director of cost , which is a class A employee service similar to IAS,IPS, but only CMA can give it. CA is a good course it is much riskier. Your call
and in the USA 300,000 accountants and auditors have left the profession over the last two years, this is the end of the accounting profession globally.
Where's the source? USAs economy is going through recession and in recession you don't go hiring expensive auditors there is no point as people ain't putting money in stocks and when business grows accountants also grows. How hard is it to trick AI (pretty easy unless it surpasses human brain) Forensic accounting ain't going anywhere and it's just 1 example I have plenty :) And it can't surpass human brain as "AI use algorithms but world is uncertain" Why you are so jealous anyway, couldn't clear the exam or what ? wAiTiNg fOr aI tO tAKe oVeR iCaI 🤡 Lol kid
Brother they didn't left most of the account which are in us are in retirement zone 2020-2023 and there is the shortage of accountants in usa and they are in demand right now , people don't want become accountants because it is boring and hard in usa and now ai is there so the new people are afraid about getting in this field and India ca have very complex tax law and audit where ca will always needed until ai became so powerful that it take every job if ca job go away then except for lawyer and doctors , labour no job will remain
@@dibiyanshuchamola6936 yep becoming a cpa in usa is very hard and job or career shift is not possible cuz they have to do masters to persue it and its not worth , but cpa firms are now outsourcing there work from good indian firms you can read about it on THE FINANCE STORY as well
But according to scientists AGI(Artificial general intelligence AI ka baap) has 100% probability to replace humans in all aspects and it is a big threat for humanity
@@mjstudy1125 bete uske andar jab ham insano ne information dali, tab usne wo information dusre insano ko batai jo search kar rahe the, google or any other search engine for that matter cannot form opinions or even think without human intervention.
@WesternRailwaysAnimation dude are u high.... from birth humans are fed with data and information (education) thats how we are able to make opinion and think...same way AI only doesn't have biological body like us...if we feed it with all information even it can give opinions and also think even smarter than human.
@@Mrpositi and where do those data and information come from? Computers? Well, WE made them. Before Computers were a thing, humans relied solely on their intellect, which is intrinsic to analyse scenarios and extract data and information from them. Aur tu pehle jaake grammar sikh fir AI ke bhajan gaa
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