Indore (Madhya Pradesh): CA Abhishek Gang said that artificial intelligence (AI) has the potential to change the way of doing business. AI has its advantages but it makes us mentally and physically inactive. This reduces our research capabilities. It should therefore be used in a controlled manner.
Gang was addressing a seminar here at TPA Hall on Friday. It was organized by Tax Practitioners Association and CA Branch Indore on the theme “Artificial Intelligence (AI) and Profession”. Keynote speaker Gang said that artificial intelligence is not a new thing in the current scenario. We use it in everyday life. Whether it’s Meta in WhatsApp or a suggestion of our favorite content on YouTube.
He said AI is now being used routinely in our CA profession. Even the CA Institute has launched its GPT chat through which we can check all our compliance. A CA can also check what information it must provide and what audit reports it must establish. How to analyze data and how to use it? All this is possible with AI. Beyond that, with the speed at which AI is taking hold among us, we also need to take some precautions. For example, we should use the paid version of any AI we use.
Citing the English proverb “No such thing as a free lunch”, he said that nothing is ever available for free. We have to pay hidden costs for free things that are not visible in front but ultimately cost us. We have to compromise on data security in free software.
Earlier, CA JP Saraf, president of the Tax Practitioners Association, said that “artificial intelligence (AI)” is the simulation of human intelligence in machines, which are programmed to think and act like humans. Previously, machines were thought to process data only based on given instructions, but with AI, machines have all the capabilities including learning, reasoning, problem solving, perception and understanding of language.
CA Pranay Goyal, Joint Secretary of TPA conducted the seminar. On this occasion, a large number of members including CA Shailendra Singh Solanki, CA Ajay Samaria, CA Umesh Goyal, CA Ajay Thakur were present.
