Mark Wickersham warns about risks of breaching client confidentiality when using AI tools (e.g., ChatGPT). He emphasizes understanding applicable privacy and security rules, recommends firms adopt an AI policy and obtain client permission, and cautions that accounting firms may inadvertently violate regulations if they do not exercise care.
Breaching client confidentiality. So we have to be really careful about how we use it. We have to be aware of what are the privacy rules, the security rules, and in particular, you need to be aware of what you can do and what you can't do, what you can put into ChatGPT, and what you have to be careful about with personal information. And so I strongly recommend that you have an AI policy and you should definitely get clients permission. Otherwise, many accounting firms are unwittingly falling on the wrong side of the regulation. So let's just be careful about AI. It's an extremely powerful tool. We just have to make sure that we are using it in the right way.
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