CA Abhishek Gang discusses impact of AI on business and profession at TPA conference in Indore

Indore (Madhya Pradesh): CA Abhishek Gang has said that Artificial Intelligence (AI) can change the way of doing business. AI has its benefits but it makes us inactive at mental and physical level. This reduces our research capabilities. Therefore, it is advisable to use it in a controlled manner.

Gang was addressing a seminar at TPA Hall here 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 today's scenario. We are using it in daily life. Be it meta in WhatsApp or suggestions of our favorite content on YouTube.

He said that AI is now being used commonly in our CA profession. Even, CA Institute has also launched its Chat GPT through which we can check all our compliances. A CA can also check what disclosures he has to make, what audit reports he has to issue. How to analyze data and use it? All this is possible with AI. Apart from this, with the speed with which AI is making its place among us, we should also take some precautions. Like, whatever AI we are using, we should use the paid version of it.

Quoting the English proverb 'No such thing as a free lunch', he said that nothing is ever available for free. We have to pay a hidden price for free things which is not visible on the face but ultimately costs us dearly. In free software we have to compromise on data security.

Earlier, Tax Practitioners Association President CA JP Saraf said, 'Artificial Intelligence (AI)' is the emulation of human intelligence in machines, which are programmed to think and act like humans. Earlier it was believed that machines only process data based on the instructions given but with AI, machines have all the capabilities including learning, reasoning, problem-solving, language perception and understanding.

The seminar was conducted by TPA Joint Secretary CA Pranay Goyal. On this occasion, a large number of members including CA Shailendra Singh Solanki, CA Ajay Samaria, CA Umesh Goyal, CA Ajay Thakur were present.