Hello and welcome back to another thrilling day in accounting, as now anyone can be a data analyst with ChatGPT’s latest massive upgrade.

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

📰 News: From Ledger to Legendary (What Happened This Weekend)

🖥️ AI Tutorial of the Day: How to Analyze Financial Statements With ChatGPT

📝 Daily ChatGPT Swipe File: My “Financial-Analyst-GPT” Prompt

🗞️ News: From Ledger to Legendary (What Happened This Weekend)

I lost sleep this weekend over OpenAI’s latest GPT-4 update called “Code Interpreter”.

TL;DR: Now anyone can be a data analyst.

The Game-Changer in Data Analysis

We've all been there: days filled with meticulous data analysis, countless hours spent on laborious spreadsheet tasks, and even longer spent trying to decipher complex data patterns. But what if I told you that a new tool could turn these hours into mere seconds?

Welcome to the era of GPT-4, the new OpenAI's data scientist on autopilot, my ABSOLUTE favorite game-changer in the field of accounting and finance.

Lighting Fast Segmentation

Let's start with a simple example. Say you're trying to segment your customers. Sounds like a bit of a nightmare, right? Usually, it's a job that would take a seasoned data analyst between 1 and 3 hours. Well, GPT-4 can do the same job in a whopping 10 seconds. Yes, you read that right!

Invoice Interpretation Unleashed

The beauty of GPT-4 doesn't stop at data segmentation. Remember the dreaded task of extracting information from invoices? It could take up to 30 minutes for a dedicated bookkeeper. Now, GPT-4 is swooping in to save the day, making short work of this task in a breezy 5 to 10 seconds. Talk about a revolution in productivity.

Unraveling the Seasonal Changes in Bitcoin Prices

For those of you into cryptocurrency, the power of GPT-4 is ready to stun you too. Figuring out seasonal changes in bitcoin prices? A task that normally takes a half-hour to an hour is now cut down to a blazing 7 seconds.

Empowering Financial Analysis

Ever need to run a linear regression analysis on a dataset and dread the hours you’ll spend trying to remember how? With GPT-4, you can save your afternoon coffee break. Just ask the model to run the analysis and get results in a fraction of the time, just 6.5 seconds!

Cleaner Data and Greater Insights

We've all experienced the painful task of data cleaning. Real estate listings, for instance, could take up to 4 hours of a professional real estate investor's time. But with GPT-4, this daunting task is accomplished in an astonishing 8 seconds.

A New Era of Financial Statements Analysis

But, hold on to your calculators, because this is where it gets really interesting. GPT-4 can not only analyze your Income Statement, Cash Flow Statement, and Balance Sheet, but it can also visualize the data. It’s like having your very own Financial Analyst, but without the coffee breaks.

Now, I hope you're ready to embrace the future, because with GPT-4, everyone can be a data analyst (well, almost). All you need to do is upload any Excel, PDF, Word doc, .csv, or any other file to Code Interpreter. In seconds - not minutes, hours, or days - you'll have results that would take a human analyst an entire workday. Now isn't that something to crunch numbers about?

So it's time to breathe easy and let GPT-4 do the heavy lifting. With this tool in your arsenal, you’re sure to turn every column of numbers into a compelling narrative. Buckle up, because accounting just got a whole lot more exciting.

Here’s my full Twitter thread giving an example of the above and a dozen other use cases:

🖥️ AI Tutorial of the Day: How to Analyze Financial Statements With ChatGPT

In today’s tutorial you will learn how to leverage ChatGPT to analyze our financial statements: Income Statement, Balance Sheet and Cash Flow Statement.

All with the click of a button using my latest ChatGPT prompt. 🤓

Here’ the video on how I did it step-by-step (and how you can too):

⚡️ Daily ChatGPT Swipe File: My “Financial-Analyst-GPT” Prompt

Here is the direct ChatGPT link that you can literally upload your own financial statements to use the ChatGPT Code Interpreter to help you analyze:

👋 See You Tomorrow

That’s it for today folks!

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Until next time!

Marc

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