Hello and welcome back to another thrilling day in accounting, as 260,000 KPMG employees are told that they must learn generative AI or else.

Let’s get to it. Here’s what’s on the menu today:

📰 News: 260,000 KPMG employees are getting an AI wake-up call

🖥️ AI Tutorial of the Day: Create a Course in Seconds with AI Then Sell It

🗞️ News: 260,000 KPMG employees are getting an AI wake-up call

260,000 KPMG employees were recently told that they must learn generative AI or face the consequences.

After the announcement Paul Knopp, KPMG U.S. Chair and CEO was interviewed by NPR and was asked should employees be worried.

Furthermore he was asked whether the AI will do most of the work for the employees and would become redundant.

Darn good questions I must admit.

Knopp gave a pretty optimistic response citing a few stats from a soon-to-be-released KPMG employee survey:

• 80% of business leaders that are using generative AI believe that it is the most significant disruption they’ve seen in a long time.

• 75% believe generative AI is the top emerging technology over the next 18 months.

• More than 50% believe that they will need more workforce in the future because of generative AI.

My take:

As many of my Accountants InFront of AI readers already know, AI will not replace accountants but accountants who are the fastest to learn AI tools will.

But what does this mean for small and medium sized accounting firms?

Many of the higher-margin services such as client advisory services and advanced tax planning originate from major players like KPMG.

If these larger firms are able to leverage generative AI to bring down their price points and serve lower revenue markets (like the sub 10M revenue “mom and pop” businesses) many of us are in trouble.

Does this mean that the Big-4 will eat our lunch? Not quite.

The advantage we have as sole practitioners and smaller firms is our closer relationship with clients.

Using tools like ChatGPT, Claude, Bard and others will decrease our workload while we can focus on making those relationships tighter.

Many of our competitors will learn this too late (they probably aren’t subscribers to this newsletter anyway).

The best way to whether the storm is to learn new tools or at least have your staff take a course (50% off link for newsletter subscribers) on how to use ChatGPT and other generative AI tools to grow your firm smarter.

The time is now to seize this unprecedented opportunity, not busy season when it’s too late.

💡Take Away: Now is the time to get an edge over your competition. Learn how to level-up your firm with AI and ChatGPT with our ChatGPT Playbook for Accountants.

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• Unleash the power of AI to turbocharge your firm's growth, boosting productivity within just 15 days.

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Why it Matters:

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🖥️ AI Tutorial of the Day: Create a Course in Seconds with AI Then Sell It

We barely have enough time to serve clients let alone create courses.

Until now. Imagine being able to create a course literally in seconds simply by telling AI the name of the course.

A course that you can use for free client education or sell as a premium offering.

Passive income anyone? 🤑

In today’s AI tutorial I’m going to show you how to create a private course from scratch that you can sell to your accounting clients.

All for free.

Might be the best few minutes you spend this entire week.

Here’s how step-by-step:

The video tutorial:

👋 That’s a Wrap

That’s it for today folks!

In the meantime, if you want live updates, join over 95,000 other accountants, tax pros and entrepreneurs who follow me across YouTube, Twitter, and LinkedIn.

🧞‍♂️ Your wish is my command

Thanks for reading! When you signed up for this newsletter, my promise to you was to act as your personal assistant and help entrepreneurial accountants like you understand what's happening in the world of AI.

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Until next time!

Marc

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