The Institute of Chartered Accountants of India (ICAI) through its Committee on AI in ICAI launched CA GPT-Industry Forum comprising of annual reports of 5,000 listed companies for the fiscal year 2023-24. This historic development was officially unveiled during a Global Live Webinar held on 24th November 2024, which was attended by over 10,000 Chartered Accountants from across the globe.
This powerful GPT integrates approximately 5,000 listed companies' annual reports into the ICAI CA GPT platform, enabling Chartered Accountants to access and analyse financial data with unprecedented ease. The reports, covering a wide spectrum of industries, are now seamlessly integrated into over 70 GPTs (Generative Pre-trained Transformers) across various industries, empowering professionals to perform complex financial analysis with a single click.
On this occasion, CA. Ranjeet Kumar Agarwal, President, ICAI highlighted the Institute's ongoing efforts to leverage cutting-edge technologies like AI, Big data, Machine Learning or other emerging technologies that are essential tools for accounting, auditing, taxation, management consultancy and other services that CAs provide.
He stated "Our CA GPT Initiative has already begun to make a transformative impact. Launch of CA GPT has received widespread acclaim, providing Chartered Accountants with AI-powered tools for accounting, auditing and taxation. This industry-specific GPT, which includes analysis of annual reports from 5,000 listed companies, will be an invaluable resource, providing members with easy access to insights tailored to their industries and professional needs. Additionally, ICAI is also empowering our members with the requisite knowledge and skills to harness the transformative potential of AI in finance and accounting through a certificate course that provides professionals in-depth insights into AI-driven tools, data analytics and automation techniques, equipping them to navigate and lead in the rapidly evolving financial landscape."
Earlier, ICAI launched CA GPT on July 1st, 2024 and made it available free of cost to all Members. At present CA GPT consists of 19 specialized GPTs that includes 16 specialized GPTs (of various ICAI Committees), CA GPT - UAE VAT and UAE Corporate Tax dedicated towards digitizing tax compliance & planning for members to navigate through UAE's evolving tax landscape, Constitution of India - providing quick access to Constitutional insights for enhanced legal compliance work and the recently launched Industry Forum - annual reports of 5,000 listed companies. As on date, more than 70,000 Members are actively using CA GPT and have generated over 2.5 Lakh Prompts.
In July 2024, ICAI launched GPT for CA Students also, providing customized tools for Foundation, Intermediate, and Final levels. It includes past papers, study materials and the ICAI syllabus to support students in their preparation. Over 50,000 students are currently using the GPT, generating more than 2.5 Lakh prompts.
Further, to support members and handhold them to learn AI, an exclusive Certificate Course on AI for Members was also launched on July 16, 2024, during the AI Innovation Summit (AIS 2024) in Hyderabad. More than 150 batches with 7500+ Members Registered and 3000+ Members have completed the certificate course. The course has seen proactive participation throughout the nation, with participants coming from more than 20 States and 80 Branches. Foreign ICAI chapters are also showing interest in the AICA Certificate Course.
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