ChatGPT scores less than students in accounting exam; areas it did well in and once it failed – Times of India
Accounting students are reportedly much more capable of answering exam questions correctly than the AI chatbot ChatGPT. This is the finding of a global study of educational institutions conducted by the American Accounting Association (AAA). The study evaluated Microsoft-backed ChatGPT’s performance on accounting-specific content. The report assessed ChatGPT by feeding it more than 25,000 assessment questions from 187 institutions around the world and cross-referencing the results with the performance of accounting students. The study has been published in the journal Issues in Accounting Education.
Across all assessments, including topics such as audit, financial accounting, management accounting and tax, students scored an average of 76.7%, while ChatGPT scored just 47.4%.
The questions ChatGPT failed in, and the ones it did well
The areas that the AI bot did not perform well on are tax, financial, and managerial assessments. As per the study, ChatGPT struggled with the mathematical processes required for the taxation and other financial data types.
When it came to the type of questions, while ChatGPT did reasonably better on true/false questions and multiple-choice questions, the AI chatbot struggled with short-answer questions. “ChatGPT doesn’t always recognise when it is doing math and makes nonsensical errors such as adding two numbers in a subtraction problem, or dividing numbers incorrectly,” the study found. The study further said that ChatGPT often provides explanations for its answers, even if they are incorrect. It further claims that several times, the descriptions given by ChatGPT are accurate, however, the answers it gives are wrong. This includes selecting the wrong multiple-choice answer.
“ChatGPT sometimes makes up facts. For example, when providing a reference, it generates a real-looking reference that is completely fabricated. The work and sometimes the authors do not even exist,” the study further added.
In 11.3 percent of questions, ChatGPT scored higher than the student average, doing particularly well on AIS and auditing-related questions.
Across all assessments, including topics such as audit, financial accounting, management accounting and tax, students scored an average of 76.7%, while ChatGPT scored just 47.4%.
The questions ChatGPT failed in, and the ones it did well
The areas that the AI bot did not perform well on are tax, financial, and managerial assessments. As per the study, ChatGPT struggled with the mathematical processes required for the taxation and other financial data types.
When it came to the type of questions, while ChatGPT did reasonably better on true/false questions and multiple-choice questions, the AI chatbot struggled with short-answer questions. “ChatGPT doesn’t always recognise when it is doing math and makes nonsensical errors such as adding two numbers in a subtraction problem, or dividing numbers incorrectly,” the study found. The study further said that ChatGPT often provides explanations for its answers, even if they are incorrect. It further claims that several times, the descriptions given by ChatGPT are accurate, however, the answers it gives are wrong. This includes selecting the wrong multiple-choice answer.
“ChatGPT sometimes makes up facts. For example, when providing a reference, it generates a real-looking reference that is completely fabricated. The work and sometimes the authors do not even exist,” the study further added.
In 11.3 percent of questions, ChatGPT scored higher than the student average, doing particularly well on AIS and auditing-related questions.
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