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      Generative AI tools, including ChatGPT, are also a much-discussed topic in the tax industry. Their role - whether as a threat or an asset to tax professionals - requires a reassessment of our working practices and tax processes. KPMG understands the importance of this development and offers support to utilise this innovative technology effectively and safely.

      Generative AI: a paradigm shift in taxation

      In contrast to traditional AI, which is used for automation such as recording and checking VAT data from incoming invoices, generative AI offers the possibility of creating new content based on pre-trained models. This technology offers unprecedented flexibility and sales speed, suitable for a far greater variety of use cases than previously possible. It has the potential to increase efficiency and productivity, improve decision-making processes and develop innovative solutions for tax challenges.

      Beyond chatbots: the transformative power of generative AI

      Generative AI goes far beyond the familiar chatbot applications popularised by platforms such as ChatGPT. While chatbots provide valuable services, for example in the management of guidelines and work instructions or the ad-hoc analysis of contracts, generative AI only reveals its true potential when integrated into business processes. Here, it not only improves automation, but also increases quality and efficiency. For example, the technology can be integrated into the process of creating and updating transfer pricing documentation - just one of many possible fields of application.

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      ChatGPT uses an advanced language model that can generate human-like text and even images using machine learning. It is based on the GPT (Generative Pre-trained Transformer) architecture, a neural network trained on large text datasets such as books, articles and websites. As a result, it understands the structure of natural language and can respond to queries or starting points by generating text and images in a coherent and natural way.

      Wide range of applications

      In addition to the general application areas of knowledge management, collaboration and business processes, there are also interesting potential applications for generative AI in the tax sector:

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      Knowledge management

      Generative AI facilitates the collection and analysis of expertise by enabling deeper insights and conclusions. This helps tax professionals to react quickly to changing regulations and business models.

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      Tax Consultancy


      Generative AI enables the automation of routine tasks and provides quick access to comprehensive knowledge resources. Tax experts thus gain time for value-adding and strategic tasks.

       

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      Tax Compliance / Risikomanagement


      In combination with traditional tools, generative AI helps to simplify and accelerate complex tax compliance processes, improving efficiency and compliance.

       
       

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      Business transactions

      Generative AI improves the accuracy and efficiency of business transactions, from depreciation and amortisation to profit distributions. It supports precise documentation, informed decisions and clear communication of tax issues to various stakeholders.

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      Co-operation

      Generative AI simplifies collaboration between tax departments and other business areas by quickly analysing data and clearly presenting complex tax issues. This allows more effective and customised solutions to be developed.

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      Criminal tax law


      Generative AI enables tax advisors to identify potential risk areas at an early stage. This enables the development of strategies and specific measures to avoid conflicts.

       

      Generative AI in your control function: recognising and successfully implementing use cases

      How can generative AI be used effectively in the tax department? Robert Regendantz, Partner and AI Lead Tax at KPMG, shows in the video how relevant use cases can be identified, prioritised and implemented - for greater efficiency and relief in day-to-day business.

       

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      Success factors for the use of generative AI:

      • Supporting employees on the path to digital transformation

        With the integration of generative AI into everyday tax work, fundamental changes in the way we work are imminent. It is essential that employees are taken along on this journey of transformation. The growing fusion of specialist knowledge with technology requires new expertise: tax advisors must increasingly be able to interact effectively with AI. KPMG is committed to comprehensive training programmes aimed at developing digital skills and equipping employees with the necessary tools to deal with AI - from identifying relevant use cases to prompt engineering.

      • Proactive handling of risks

        The following aspects must be considered when implementing generative AI:

        Ethics and regulation: Ensuring proper and ethical use.

        Data control: Careful data control is essential, for example to avoid potential risks associated with incomplete or outdated tax law data in the AI model.

        Accuracy: Ensuring the precision and reliability of AI-generated data to avoid misinterpretation and incorrect decisions.

        Checks: Information generated by generative AI must be validated to minimise errors.

        Data protection and confidentiality: Confidential information must remain in protected environments to ensure data protection and confidentiality.

      • Strategic planning for success

        A customised AI strategy, tailored to company-wide digitalisation, is essential. KPMG supports the definition of such a strategy with clear objectives such as process optimisation, increased efficiency and improved compliance. A central element of this is the integration of the company's own data into the AI application.

      • Own data: The key to realising the full potential of AI

        The combination of generative AI with company-specific data enables customised solutions and more detailed insights. This approach is crucial to realising the full benefits of AI and gaining a competitive advantage.

        KPMG can help you develop a data-driven AI strategy that addresses your specific needs and drives the digital transformation of your tax department.

      Start your journey with generative AI in taxation

      KPMG provides support in determining the individual potential of generative AI for tax departments. In workshops, we communicate the potential and methods for utilising generative AI, provide insights into current market trends and highlight pragmatic implementation strategies. We make generative AI tangible through concrete use cases and live demonstrations that show the immediate opportunities of this technology for business processes in a practical way.

      One example:

      Which KPIs are important for a tax department?

      Act as Head of Tax for an international group in the automotive industry with headquarters in Germany. Your task is to define KPIs that can be used to measure the success of the tax department. The strategic goals of the tax department are (...). Explain the significance of each KPI in relation to the strategic objectives. Use simple language. Sort the KPIs by importance. Format the result as a bulleted list.

      Together into the future of taxation

      The future of tax is being reshaped by generative AI. If you're ready to explore the possibilities of this revolutionary technology for your tax department, KPMG is ready to guide you. Contact us today for a personalised consultation, to take part in our interactive workshops or to learn more about our tailored solutions.

      Together, we can shape your organisation's digital transformation and equip you for the challenges of tomorrow.

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      * The legal services are provided by KPMG Law Rechtsanwaltsgesellschaft mbH.