We asked.
ChatGPT Answered.
It appears there is no question ChatGPT can’t answer – but just how much does ChatGPT really know about private equity fund administration?
Our industry experts queried the platform and react to its answers.
At its core, tax questions are ones of legislation, legislative history, economics, and intent. While ChatGPT can help to provide a general understanding of a topic or to identify potential questions to ask an advisor, it does not take the place of an advisor itself. As an AI chatbox, ChatGPT is unable to consider a client’s unique circumstances and lacks data for analysis.
A client could engage in conversational dialogue with ChatGPT for somewhat more specific answers, however, the client would have to know exactly what guidance they’re looking for to continue probing ChatGPT to elicit an on-point response. It’s unfair, in that scenario, to expect that ChatGPT could give the answers a client requires based on their particular set of circumstances. While ChatGPT is a useful tool to improve general knowledge, it is not a substitute for a well-informed service provider that understands your business and business needs.