CA Abhishek Gang Discusses AI's Impact On Business & Profession At TPA Conference In Indore

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

Gang was addressing a seminar here at TPA Hall on Friday. It was organised by the Tax Practitioners Association and CA Branch Indore on the subject ‘Artificial Intelligence (AI) and Profession’. Key note speaker Gang said that Artificial Intelligence is not a new thing in today's scenario. We are using it in day to day life. Be it Meta in WhatsApp or suggestion of our favourite content on YouTube.

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

Quoting the English proverb ‘No such thing as a free lunch’, he said that nothing is ever available for free. We have to pay hidden cost in free things which are not visible in front but ultimately cost us dearly. We have to compromise on data security in free software.

Earlier, CA JP Saraf, president of Tax Practitioners Association said, ‘Artificial Intelligence (AI)’ is the simulation of human intelligence in machines, which are programmed to think and act like humans. Earlier it was believed that machines only process data on the basis of 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.