In a recent experiment, renowned publisher Springer Nature released a new textbook whose authors used GPT as an integral part of their working process. The German-language book – Einsatzmöglichkeiten von GPT in Finance, Compliance und Audit (Applications of GPT in Finance, Compliance and Audit) – was developed during a “Hack Day” in the spring. This event brought the authors together with editors and experts from the publishing group to make the project a reality.
The team set out to discover whether generative AI tools can help authors save time when writing their manuscripts and make their knowledge available more quickly without sacrificing quality in the process. The experiment showed that this technology can effectively assist people who, for various reasons, would have difficulties making them unable to author a book without support. However, it also became clear that authors with their expertise and professional editing skills continue to play an essential role in ensuring high-quality content.
The result is a book written by three subject matter experts that uses GPT to provide a comprehensive insight into the applications of generative AI, such as GPT, in a company finance context. It presents background information, benefits, challenges and risks associated with implementation. The book covers general application opportunities in businesses as well as offering specific applications in areas such as managerial accounting, business intelligence, accounting, investor relations, internal audit and control systems, risk management, auditing and data protection. It closes by focusing on strategy for GPT use. The entire process from idea to publication took less than five months, which is about half the usual time.