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| AI's CPA Exam Woes |
The Hidden Workforce Behind AI's Training.
The booming artificial intelligence (AI) industry heavily relies on a vast, often overlooked workforce that labels data. Major companies, including tech giants such as Amazon and Facebook, outsource this data labeling to crowdsourced workers in regions with low labor costs. The global data collection and labeling market, which stood at $2.22 billion in 2022, is projected to escalate to $17.1 billion by 2030. However, beneath this growth lies a stark reality: many workers face long hours, unpredictable incomes, and minimal pay for their tasks. This exploitative trend is pervasive across developing nations, prompting concerns and discussions about ethical practices in the AI training landscape.
Key Takeaways:
- Major tech companies are heavily reliant on gig workers in economically challenged regions to train their AI models.
- The global data collection and labeling industry is rapidly growing, with a projected worth of $17.1 billion by 2030.
- Workers face uncertain incomes and long hours, leading some to label it as "digital slavery."
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A growing number of teenagers and young adults are leaving their college education behind to capitalize on the surging AI industry. They are lured by the promising investment wave in AI, as evidenced by more than 25% of American startup investments going to AI firms this year. The emergence of technologies like ChatGPT and the increasing value of the generative-AI applications market have emboldened many young founders to leave their studies and focus on their AI ventures.
Key Takeaways:
Key Takeaways:
- A surge in AI investments has led to a trend of students dropping out of college to focus on AI startups.
- Generative AI technologies, such as ChatGPT, have revolutionized the startup landscape, enabling entrepreneurs to create solutions without needing large teams.
- While some young founders achieve success, there's an understanding that not every venture will thrive, but returning to college remains an option for many.
Experts evaluate if AI can pass as an accounting professional exam
A panel of accounting experts convened to evaluate the responses of the AI system BARD to questions in fields like auditing, tax, and forensic accounting. They wanted to test the claim that AI could become an expert in these areas. The panel used Bloom's Taxonomy, a framework for learning objectives, to assess if BARD could demonstrate higher-order thinking skills. Some panelists assigned the AI a letter grade.
Key Takeaways:
- BARD provided factually incorrect answers and only demonstrated basic recall of information for internal auditing questions.
- For tax topics, BARD gave thorough responses but could not replace a CPA's expertise and experience.
- BARD struggled with comprehension of forensic accounting and GAAS standards, often oversimplifying complex professional guidelines.
Does Google Spend $18 Billion to Keep Safari in Check?
A significant development in the US v. Google trial highlights the multibillion-dollar deals between tech giants Google and Apple. Based on a recent report from The New York Times, Google pays a hefty sum, approximately $18 billion, annually to Apple to remain the default search engine for Safari across Apple devices such as Macs, iPads, and iPhones.
Three Major Takeaways:
- Google's payment to Apple not only secures its primary position on Apple devices but also historically discouraged Apple from creating its own search engine. Notably, Apple has explored avenues like acquiring Bing or crafting a unique search engine, but hesitations arise from potentially antagonizing Google and losing the lucrative deal.
- Microsoft's CEO, Satya Nadella, implied that Apple maintains its alliance with Google as it could face challenges if Google decided to leverage its widely-used applications, like Gmail and Maps, to push users toward Chrome and away from Safari.
- The US v. Google trial has spotlighted the implications of Apple's agreement with Google, arguing that it promotes an anticompetitive monopoly. The idea is that any search engine partnered with Apple's vast market share would instantly gain significant influence.
White House Releases AI Executive Order
The White House has unveiled an extensive executive order on artificial intelligence (AI). This directive encompasses nearly all federal agencies, aiming to regulate and guide the growth of AI to safeguard the public, economy, and national security. Given the limited power of President Biden's executive branch and the unlikelihood of Congress producing new AI-related laws soon, this order is set to be the most assertive piece of U.S. regulation on this rapidly expanding industry for the foreseeable future.
Key Takeaways:
- The executive order mandates developers of high-end AI systems to disclose their safety test outcomes to the U.S. government. It also establishes rigorous standards for testing to ensure AI product safety before public release.
- To combat AI-driven deep fakes and misinformation, the Department of Commerce will create guidelines for content authentication and watermarking. This will help label AI-generated content clearly.
- Addressing concerns about AI potentially displacing millions of jobs, the order instructs the administration to draft a report on AI's potential labor market effects. It will also explore ways to bolster federal support for workers impacted by AI-induced labor disruptions.
Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.
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