ICAEW.com works better with JavaScript enabled.
Contents

Find out what you should and shouldn't do when it comes to using Generative AI:

Do

  1. Define your objectives, articulating Generative AI-related goals and objectives.
  2. Understand the capabilities and limitations of different Generative AI models and implementations.
  3. Ensure you have appropriate policies and guidelines in place as to the use of Generative AI.
  4. Ensure you, and those using generative AI in your organisation, have a base level understanding of how the technology works as a minimum and ensure staff using Generative AI systems are adequately trained.
  5. Start with small projects or proof-of-concepts that are not business critical. Learn from these, about potential impacts and feasibility, before scaling up.
  6. Prepare your data, focussing on accuracy, hygiene, quality and diversity
  7. Continuously monitor and evaluate Generative AI outputs against your objectives and standards and against expected outputs.
  8. Include humans in the loop as necessary. Review and challenge outputs with professional scepticism, avoiding automation bias.
  9. Create detailed prompts – explain exactly what you want Generative AI to do and give it a good example of how to do something.
  10. Make it clear when Generative AI has been used in producing content;
  11. Consider a scientific approach to using generative AI, where rigour and accuracy are important – apply a tight framework and repeat prompts to reduce the risk of anomalous responses.
  12. Be curious and experiment! But be responsible too.
 

Don't

  1. Ignore ethical aspects: develop guidelines for responsible use of generative AI. 
  2. Abdicate responsibility: generative AI models and outputs require human oversight.
  3. Overestimate generative AI models: they are tools to complement human expertise.
  4. Underestimate the hardware or infrastructure requirements of generative AI. It requires significant volumes of good quality data.
  5. Disregard user feedback: use it to identify and address issues, as well as improve models.
  6. Fall foul of data protection, privacy and intellectual property considerations: keep client and confidential internal data off public generative AI tools, and make sure you have permission to train a model using someone else’s IP or data.
  7. Ignore potential inconsistencies and inaccuracies in generative AI outputs.
  8. Forget that the implementation of new technology requires cultural change: supporting those with legitimate concerns about AI is crucial to its successful adoption.

As considerations vary across sectors, organisations, use cases and data, these do’s and don’ts should be evaluated and adapted to reflect specific needs.

You may also be interested in

Event
Shape the future slogan banner
Annual Conference: Technology

Technology is rapidly evolving and transforming the way we work. ICAEW's Annual Conference 2023 focuses on the need for accountants to adapt and stay up to date.

Resources
Artificial intelligence
Artificial intelligence

Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession. Access articles, reports and webinars from ICAEW and resources from tech experts.

Browse resources
ICAEW Community
Abacus
Excel

Do you use Excel in your organisation? Are you using it to its maximum potential? Develop your skills and minimise spreadsheet risk with our Excel resources. Join the Excel Community.