PODCAST | Impact of AI on Financial Services?

Published on: 11/07/2023 By: Gorfine, Schiller & Gardyn

In this Gorfine, Schiller & Gardyn podcast interview, Chuck Faunce, Director of Business Valuation & Litigation Support at GSG, discusses all things AI and financial services.

2023 has certainly been the year of Artificial Intelligence (AI) with non-stop news stories about how it will have a wide-range of impact on virtually every aspect of our lives. But the big question is can AI do your taxes and provide other financial services?

We address this question head-on in this podcast interview – with the big takeaway being that AI is not ready for a full takeover of financial services. The human element and guidance from experienced tax and audit professionals remains vital.

Following are highlights from this interview:

  • Why Generative AI won’t be doing anyone’s taxes anytime soon. (:30)
  • The current risks involved with using AI for financial services. (2:55)
  • Why guidance from experienced professionals is still important, as opposed to relying solely on the results from an AI model. (5:30)

We would like to thank Chuck for sharing his candid insights with us. Please contact GSG here to learn more about how GSG provides the human element to all client engagements.

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