Indore (Madhya Pradesh): The use of AI in legal practice and taxation indicates a revolutionary change for tax advisors, said CA Samkit Seth here on Saturday. “Through AI we will be able to develop our work efficiency and reasoning ability, create the best client management system, identify potential risks and losses from cyber security related threats by analyzing data, technically analyzing data patterns and irregularities,” he said.
CA Seth was the keynote speaker at a training programme jointly organized by the MP Tax Law Bar Association (MPTLBA) and Commercial Tax Practitioners’ Association (CTPA). The subject of the training programme was the use of Artificial Intelligence in the field of taxation in the current era.
Piyush Bhati, commissioner (audit), CGST & Central Excise, Indore was the chief guest.
CA Seth described the use, importance and benefits of AI in the field of taxation and legal profession. He said that AI was not only the need of the hour but also a necessity. “Its use includes both merits and demerits, but we do not need to be afraid of it at all, because we need such live events and training programmes today with the aim of developing an understanding of the difference between its merits and demerits”, he said.
He said AI was an artificial human tool, which was used to make every person successful. It was capable of doing the work that humans had been doing themselves . In fact, AI had the ability and efficiency to think, understand and analyze work much more than humans.
Piyush Bhati, Commissioner, CGST & Central Excise Department (Audit) said the event was important because in the present era of technology, most working systems and schemes pertaining not only to direct and indirect tax laws, but also education, health, business, executive and judiciary etc. were based on portals, apps and cyber technology. Use of AI would come in handy in understanding and implementing them.
