A lot has been written on the business process possibilities of using ChatGPT so it’s likely that you may be experimenting with it or will be doing so soon. Just be careful.

It learns from, and is trained on, all information inputs. In short, it memorises everything you enter into the system so don’t provide confidential details like tax file and bank account numbers. The tool doesn’t differentiate between private and general information.

The application seems incredibly smart, but it can’t do everything. Ultimately, you are responsible for your own work. If there’s a mistake, no computer is going to step in and take the blame. That’s on you so check everything carefully.

The free version is only trained on information predating September 2021. This means any updates to legislation or tax codes since then will not be reflected in its outputs but even if you’re using the paid version it can hallucinate. That means it can produce bold, confident answers that are totally incorrect so don’t trust it – you will need to use your judgement.