Is AI expected to prepare a tax return, and even the accounting is facing a laid-off crisis?

The students who study accounting have to hurry up and hurry up when they emigrate to Australia, because accounting is no longer an immigration profession by 2025.

KPMG’s report “The future of humanity, economy, and taxation” points out that by 2025, Australia is expected to use artificial intelligence in the preparation of tax returns.

According to forecast, in the future, professionals in many service industries in the world (such as accounting, etc.) will be replaced by robots, and the size of the major tax bureaus represented by the Australian Tax Office will be reduced as a whole.

The film "I, Robot" starring Will Smith envisions a future world dominated by robots. KPMG is no exception.

The report also pointed out that "scientific and technological innovation is likely to mean that most of the medium-level technical work will no longer be needed."

By 2025, tax work will be expected to use artificial intelligence to prepare tax returns.

"This is not just comprehensive automation. It also involves selecting items from the general ledger and automatically applying this data to the tax return."

At present, more than 80% of the work in the automobile manufacturing process is done by robots. "In the future, people will witness the expansion of artificial intelligence into the service industry."

“Now ATM machines are everywhere in the banking industry, and the same artificial intelligence will appear in pharmacies and even fast food restaurants.”

Make decisions more rational

The use of artificial intelligence and cloud robots will help bring the rationality of decision-making to a new level.

The report said, "Today, we are at the beginning of this revolution."

"Cloud robots enable computers to gain a lot of learning experience in a vast database in the cloud. Deep learning is a form of artificial intelligence. It uses a variety of sophisticated algorithms to identify various models in images, sounds, and other data. To imitate the human brain."

The increased efficiency of using artificial intelligence and automation will certainly lead to greater outsourcing, but KPMG does not view it as a threat. On the contrary, KPMG believes that “this will not only liberate employees from trivial work, allowing them to invest in activities with more value-added space/more gold content, but also to have higher safety factors. a deeper level of comfort in the working environment."

The report also said that the Inland Revenue Department will also be more accurate in the target locking and implementation of the action, they will use the analysis based on mechanical intelligence and cognitive intelligence to detect system control and accurately determine the tax risk.

The report explained that "commercial taxation is relatively profound and its long-term understanding, accompanied by new technical tools, will be realized."

Data analysis and technical personnel have always been in great demand, but now it is hot.

The report stated that "many medium-sized tax bureaus want to have a dedicated IT expert."

"As the transfer pricing process becomes more and more complex, future tax bureaus will most likely need skills in economic analysis. They will also need communication skills and disputes in more complex and diverse judicial and cultural settings. Experienced experience."

Many of these disputes will be very complex and involve multiple judicial systems, so that an important future skill set will be used to "sort out a clear solution to various noises and complex problems."

In fact, the functions of taxation have already shifted from the simple audit level to the consulting level, and to perform better consulting functions, a broader business vision is essential.

Via smh

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