The Potential of AI in Tax Consulting: Enhancing Efficiency & Navigating Limitations
This article is a summary of a YouTube video "KI in der Steuerberatung: Welches Potenzial bietet sie & worauf sollten Steuerberater*innen achten?" by Bundessteuerberaterkammer
TLDR While AI can improve efficiency and productivity in tax consulting, human tax consultants are still necessary to ensure accuracy and to navigate the limitations and risks associated with AI applications.
AI in tax advisory: It is not a matter of if AI will replace us, but rather how the profession should adapt to its opportunities and risks.
The use of AI tools in tax consulting requires responsibility and conscientiousness, as only human tax consultants can ensure the accuracy of content and facts, while the daily work will shift towards knowledge-based tasks.
The use of AI in tax consulting can improve efficiency and productivity by automating tasks such as work description, text generation, summarizing, and research, but it is important for professionals to be aware of the limitations and risks associated with AI applications.
The program lacks reliability and source specification, and using it requires compliance with data protection obligations as the entered data is sent to the USA for AI training purposes, due to the absence of generative language models combining tax literature, jurisprudence, and laws.
Staying up to date in the tax consulting field requires solutions that incorporate specialist publishers, case law, and laws, and professionals must adapt to changing business models and acquire the ability to combine and link knowledge.