10/2/2023 - economy-and-finance

As Blockchain and AI can change the imposing industry.

By ramiro guerrero d

As Blockchain and AI can change the imposing industry.

Do you imagine paying taxes was as easy as talking to a bot?

For it is not a fantasy, it is a reality that is boasting thanks to the technologies that brought us these innovations: artificial intelligence and blockchain. These technologies are revolutionizing how tax professionals work, enabling them to simplify their processes, improve accuracy and deliver value-added services to their customers.The first place where most taxpayers will see this is in the basic preparation of the statement. Artificial intelligence is great for automating repetitive tasks such as data entry and analysis. Tax professionals can already use artificial intelligence to quickly process large volumes of data, releasing time for more complex jobs such as strategic planning and customer advice.On the side of strategy and fiscal advice, artificial intelligence has additional applications. Public counters can simplify their workflows using artificial intelligence to automate repetitive tasks, take notes at meetings and create documentation for customers.

Blockchain adds power and precision to artificial intelligence

Although artificial intelligence has the potential to transform the fiscal industry, it cannot do so alone. You need the power of blockchain technology. Artificial intelligence can automate information collection and care, but blockchain ensures the information is accurate. Blockchain technology provides a safe and transparent way to store and share information. Its decentralized nature ensures that no entity controls the data, making them resistant to fraud and manipulation. In the fiscal industry, blockchain has the potential to reduce errors and fraud by providing a proof of manipulation of all transactions.

What gives us the future? Will the robots take over the tax industry? Not exactly.

Like many industries, taxation is living a revolution of artificial intelligence and blockchain. But intelligent tax professionals who adopt these technologies can work more efficiently, reduce the risk of errors and focus on more complex work.

Do you want to validate this article?

By validating, you are certifying that the published information is correct, helping us fight against misinformation.

Validated by 0 users
ramiro guerrero d

ramiro guerrero d

My name is Ramiro I am fond of new technologies
like IA and blockchain, my degree thesis focused on the application of
blockchain to the financing of SMEs. I have experience with
cryptocurrencies since 2017, I currently do a master's degree in
finance.

Linkedin

Total Views: 7

Comments

Can we help you?