In this video, I test whether ChatGPT, the generative AI chatbot from OpenAI, can pass the CMA Exam. I found some CMA exam practice questions on the IMA website and copied them into ChatGPT without any other context.
Remarkably, ChatGPT answered all five practice questions correctly and provided detailed explanations for its reasoning. It even showed its work on the required calculations.
This experiment indicates that ChatGPT has strong potential to pass the actual CMA exam if given the full set of questions. Of course, I can't legally provide ChatGPT with the real confidential exam. But based on this test, the AI's capabilities are impressive.
So what does this mean for the future of management accounting? AI like ChatGPT won't replace accountants entirely. But it will change how we work. In many ways, AI will make a management accountant's job easier by automating routine tasks. But it also means we'll need to supervise AI and ensure it provides sound analysis.
There are many open questions about how emerging AI like ChatGPT will impact accounting careers. But one thing is clear - we're entering a new era where AI and human intelligence will need to work together. Accountants who can leverage AI while providing sound oversight and judgment will be well-positioned for success.
What do you think? Could ChatGPT pass the CMA exam based on this experiment? How will AI change the work of management accountants in the years ahead? Share your thoughts in the comments!
