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May 2023

The Competition that can Beat You!

By Raman Jokhakar, Chartered Accountant
Reading Time 9 mins
AI will not replace you. A person using AI will. - @Svpino Why an article about AI? You are reading this article because it is overdue! BCAJ has carried articles on voice commands. We also have a feature called Tech Mantra, which carries short tech quarks. In February 2023, there was a webcast on Chat GPT, which you can view on the BCAS YouTube channel. However, this article is different. It is from a non-expert stoked by what he is seeing. My sole reason to write is: AI is reaching us faster, and intermingling and integrating with what we do – in its pace and reach. AI has come out from ‘data and code rooms’ to ‘living rooms’ that even accountants are writing about AI. The entire experience for me, which involved looking at the AI landscape and trying different Apps and portals, was like sitting in a magic show. It was so fascinating, that I could not stop myself from writing an article leading to a call for action for fellow BCAJ readers. Today, our best estimates suggest that at least 2.5 quintillion bytes of data are produced every day (that’s 2.5 followed by 18 zeros!).1  A more reliable report by Statista, said that data created, captured, and replicated on the internet was approximately 64.2 zettabytes2 in 2020. (one zettabyte = one trillion gigabytes). 
1. Google Search, cloudtweaks.com
2. equal to 2 to the 70t
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