Humans Reign Supreme: ChatGPT Falls Short on Accounting Exams

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The massive study was crowd-sourced with 327 co-authors from 186 institutions in 14 different countries. Last month, OpenAI introduced its latest AI chatbot product, GPT-4. The company claims that the bot, which employs machine learning to produce text in a natural language style, performed excepti

In a test of ChatGPT’s ability to handle accounting assessments it still couldn’t compete with the student’s level. Credit: Nate Edwards/BYU Photo

“When this technology first came out, everyone was worried that students could now use it to cheat,” said lead study author David Wood, a BYU professor of accounting. “But opportunities to cheat have always existed. So for us, we’re trying to focus on what we can do with this technology now that we couldn’t do before to improve the teaching process for faculty and the learning process for students. Testing it out was eye-opening.

Although ChatGPT’s performance was impressive, the students performed better. Students scored an overall average of 76.7%, compared to ChatGPT’s score of 47.4%. On 11.3% of questions, ChatGPT scored higher than the student average, doing particularly well on AIS and auditing. But the AI bot did worse on tax, financial, and managerial assessments, possibly because ChatGPT struggled with the mathematical processes required for the latter type.

ChatGPT often provides explanations for its answers, even if they are incorrect. Other times, ChatGPT’s descriptions are accurate, but it will then proceed to select the wrong multiple-choice answer.

 

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