Generative AI & Governmental Financial Reporting

Overview

Discover how Generative AI and Large Language Models can revolutionize governmental financial reporting, from automating data extraction to enhancing decision-making processes and improving accounting efficiency.

Syllabus

- Introduction to Generative AI and LLMs in Accounting -- By the end of Module 1, learners will gain a foundational understanding of AI and machine learning and their relevance to accounting. They will be able to describe Large Language Models (LLMs) and their applications in the field while recognizing both the benefits and challenges of integrating LLMs into accounting practices. Additionally, they will understand the importance of prompt engineering in shaping LLM outputs and appreciate how technological advancements have made LLMs more accessible to non-technical users. - Methods of Implementing LLMs in Accounting -- By the end of Module 2, learners will understand various methods for implementing LLMs in accounting, including UI, API, UI-RPA, and API-RPA, and be able to evaluate their advantages and limitations. They will develop the ability to choose the most suitable implementation approach for different accounting tasks while considering key integration factors. Additionally, they will gain insights into practical considerations and make informed decisions about LLM adoption based on organizational needs and available resources. - Extracting Financial Data from Unstructured Sources -- By the end of Module 3, learners will understand the challenges of extracting financial data from unstructured sources and explore the components and workflow of an LLM-enabled data extraction framework. They will learn how to apply prompt engineering techniques to enhance extraction accuracy and recognize how the framework can be adapted for various financial documents. Additionally, they will appreciate the efficiency and accuracy benefits that LLMs bring to financial data extraction. - Evaluating Framework Performance -- By the end of Module 4, learners will be able to evaluate the accuracy and efficiency of an LLM-enabled data extraction framework and interpret its results across different financial documents. They will identify common extraction errors and apply strategies to address them while refining prompts to enhance performance. Additionally, they will explore considerations for scaling the framework to handle larger datasets and different LLMs effectively.

Taught by

Huaxia Li

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