July 2023
In an accountancy first, Open Tuition has added an âAsk the AI Tutorâ service function to its website.
For each ACCA paper students will now be able to type in questions and receive an instant computerised answer.
The Open Tuition AI is more accurate (and faster) than freely available ChatGPT, because it is using the knowledge database that accountancy tutors have created, as opposed to simply trawling the internet for anything it might think relevant.
Open Tuition founder John Moffat told PQ magazine that it may expand the service to CIMA students, depending on the response from students. However, he felt there is no reason why CIMA students should not use the ACCA service, given much of the knowledge needed is the same.
He explained: âThe results have been astonishing. For written questions it is coming up with almost 100% accurate answers in easy to understand English. When asked to tackle objective test questions, again it is remarkable how accurate the answers are â and it explains the workings.â
Moffat admitted that for advanced calculation questions âit is understandably not quite as goodâ.
He said that when AI tackled some full 50-mark past AFM questions the answers to the written section were remarkable good. Its answers to the calculation parts, which commonly require reading a full page of information and then using various different formulae to arrive at the solution, have been impressive too. While the AI has not always arrived at the correct final answer, it was able to explain each of the workings as it performed them and the resulting answer would without doubt have achieved high marks in the exam, Moffat said.
He stressed students should not see this new resource as a quick and easy way of passing exams.
Students still need to study as they do now. âThe purpose of the AI is to give them instant 24/7 help on issues that they have problems understanding,â he said.
Inevitably, there will be students simply typing in test questions to get answers, although Moffat believes this is not a great approach to success. âThey should still be using revision kits and remember the AI canât be used in their exams, they have to do the work then!â
He emphasised that Open Tuitionâs AI cannot guarantee 100% accuracy, and pointed out that it will not replace Open Tuitionâs existing Ask the Tutor forums, where students get personal replies to their questions from tutors.
This latest move will surely put pressure on all the accountancy bodies to add AI features to their own platforms.
Check out the Ask the AI Tutor at https://tinyurl.com/38f5fa8u
