Tax advisors want AI to perform manual tasks despite ‘trust gap’ on privacy
More than half of UK tax professionals want to use artificial intelligence tools to help with their daily tasks, new survey data has revealed.
The study, conducted by Thomson Reuters, found that 12 per cent of UK tax professionals surveyed were either using or planning to integrate ChatGPT or other forms of generative AI into their work.
Of those that are planning to apply ChatGPT to their work, four out of 10 (39 per cent) said they could see a widespread rollout of the technology at their firms within the next six months.
The tax experts backing the technology said generative AI could be used to help with a number of tasks including, tax research, compliance as well as tax return preparation.
However, there were still reservations among some tax experts, citing concerns around privacy and reliability of information given.
A total of 13 per cent of UK tax professionals reported that their workplace had banned ChatGPT altogether.
“It’s clear from our findings that there’s a trust gap with professionals,” Piritta van Rijn, Global Head of Product (Accounting, Tax & Practice) at Thomson Reuters, said, adding that many are simply adopting a “wait and see approach”.
“Even if they are optimistic about the potentially transformative impact of generative AI, they plan on focusing on how the technology develops before they roll it out across their organisation,” she added.