Cross-border Tax Talks Gen AI in Tax: a new frontier
Jan 4, 2024
In this engaging discussion, Dom Megna, a New York-based tax partner at PwC, dives into the transformative role of AI in tax practices. He clarifies key concepts like generative AI, machine learning, and deep learning. The conversation highlights how AI can enhance data management and streamline documentation, emphasizing the need for human oversight. Dom also reflects on the evolving roles of tax professionals and the importance of responsible AI use, exploring both opportunities and challenges in this new frontier.
AI Snips
Chapters
Transcript
Episode notes
Generative AI Builds on AI Layers
- Generative AI builds upon conversational AI, machine learning, and deep learning for advanced data generation.
- These technologies increasingly enable tax practitioners to analyze large data sets and classify complex scenarios.
Apply AI For Tax Queries
- Tax practitioners can use AI-powered chat queries to quickly retrieve data like top tax jurisdictions or generate related visuals.
- Incorporate AI tools for knowledge management, tax research, and advanced document search to boost efficiency.
Chat Query Hotel Example
- Dom Megna shared a personal story about requesting an iron via a chat interface at a hotel.
- This illustrates how chat queries work by interpreting inputs and triggering relevant actions automatically.