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Artificial Intelligence

After mastering Chess and Go, AI is tackling taxes

The new trade fair concept isn't the only debut at CEBIT 2018, with the global tax consultancy group WTS showcasing its solutions in Hannover for the first time. The company has teamed up with the German Research Center for Artificial Intelligence (DFKI) to reveal their latest advances in "Tax 4.0".

31 May. 2018
WTS_DFKI
WTS DFKI

At the start of the year, WTS and the DFKI joined forces to found the Center of Competence for Tax Technology. The development partners are now attending CEBIT 2018 to showcase their latest research findings in the field of "Tax 4.0" AI applications, focusing on cognitive-assisted robotic process automation (RPAI). RPAI is set to unlock wide-ranging potential for automating highly repetitive processes in the tax industry, such as automating data transfers between applications, thus eliminating monotonous routine administrative tasks and preventing disruptive switches between different media. Visitors to the joint stand can explore very real examples of how the RPAI system can be used, such as for extracting relevant information from paper-based commercial tax returns, which robots can then transfer via existing graphic user interfaces to a company's software systems - without any human help.

In this particular case, the system's deep neural networks have been specially trained for the tax industry. However, as RPAI doesn't contain task-specific knowledge but rather applies general concepts and methods for achieving intelligent process automation, this opens up a very wide range of potential applications in other sectors, too. All in all, by eliminating highly repetitive tasks, AI technology is set to offer very tangible benefits such as faster processing, enhanced quality and efficiency, and a more diverse scope of activities. It's safe to say that AI can do much more than win a round of chess!

Video

WTS Group AG Steuerberatungsgesellschaft (80539 Munich, Germany), Hall 27, Stand F62, co-exhibitor with the DFKI

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