Artificial intelligence (AI) has the potential to automate tasks currently performed by humans in the indirect tax profession, such as providing real-time tax advice and guidance on routine issues. Large language models, like ChatGPT, can be trained on massive amounts of data and programmed with accurate tax data, laws, regulations, and policies to perform rapid analysis. While AI is not yet widely used in tax advisory work, forward-thinking organizations are increasingly employing AI to play the role of a junior team member to get better and faster results. Chatbot technology powered by AI can expedite routine transactional inquiries and help tax professionals access critical information faster. The use of chatbots in the indirect tax profession has the potential to transform the industry.
Source Taxadvisermagazine
