The use of Generative AI tools in the Tax Profession - After the initial hype - Fear, Foe or Friend?

Oct 22, 2026

Uploaded by Himbo

The article examines how generative AI tools such as ChatGPT can support tax professionals after the initial hype has faded. It contrasts fear-driven and dismissive reactions with the constructive potential for knowledge workers and businesses. Focusing on real use cases, it explores how outputs move from data to information to knowledge to practical decision-making, while encouraging learning and responsible collaboration rather than replacement of existing expertise.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages24

Reading Time1 h 0 min

AccessFree to download

Setting the scene

Use cases of ChatGPT and generative AI in the tax profession

Data to information to knowledge to wisdom

The use of Generative AI tools in the Tax Profession—After the initial hype—Fear, Foe or Friend? August 2023 [kpmg.com](kpmg.com) Contents Setting the scene Use cases of ChatGPT and generative AI in the tax profession Data to information to knowledge to wisdom | | | | | --- | --- | --- | |
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What fuels ChatGPT and other generative AI technologies? | | | | | | | | | | | 03 11 19 06 A word of caution 21 Where lies the future of the tax profession? The use of Generative AI tools in the Tax Profession—After the initial hype—Fear, Foe or Friend? 2 © 2023 Copyright owned by one or more of the KPMG International entities . KPMG International entities provide no services to clients . All rights reserved. Setting the scene The use of Generative AI tools in the Tax Profession—After the initial hype—Fear, Foe or Friend? 3 © 2023 Copyright owned by one or more of the KPMG International entities . KPMG International entities provide no services to clients . All rights reserved. By now, it is no secret that generative AI tools like ChatGPT have taken the world by storm. Seemingly every other LinkedIn post involves fellow tax professionals seeking to compare the insights generated by ChatGPT with those of us mere mortals, in an effort to demonstrate that ChatGPT is either inferior, or a foe which risks our very existence. Likewise, every other media article on ChatGPT seems designed to tap into the fears of their audience: sentient automation going off the rails, the downfall of our systems of education, fears of a further purge of white-collar knowledge workers and many others. And for some people and organizations, the reactions are somewhat predictable: diminish, deny, reject and ban. In this article, we look at the use of generative AI tools like ChatGPT for assisting tax professionals, after the initial hysteria or hype has subsided, and with a view to making predictions as to the impact it may have in the medium to long-term. Whilst the extremes in the range of initial reactions both in the professional community and in the media are understandable, they both miss the point. They are reminiscent of the anxiety and hyperbole which surrounded the early days of Google, which even led one of the authors of this article to write to his local newspaper in 2009 in such a state of fear that it prompted him to proclaim that “Ignorance used tobe bliss”. 1 Beyond the fear and hyperbole, the constructive impacts of generative AI technologies to knowledge workers and businesses are numerous.2 For the tax profession, it is essential to evaluate how these technologies can and might enhance what tax professionals and organizations are capable of doing. While much of today’s hype is focused on ChatGPT, our focus for this article is on the use of generative AI technology, of which ChatGPTis currently the leading consumerbased App. It is too early to predict whether ChatGPT will retain its title as the market leader in this field. It is also relevant to note that the public release of ChatGPT is only months old at this point, and predictions about its future usage may be prone to underestimation—the pace of progression of generative AI technology is simply breathtaking. However, just as George Orwell’s 1984 was uncannily prescient in its predictions, we hope this article follows a similar pathway (though perhaps without the element of fear which ‘1984’ can invoke) . An edited version of this article is due to be published in British Tax Review in Issue 4, November 2023, published by Thomson Reuters Sweet & Maxwell. See [https://www.sweetandmaxwell.co.uk/british-tax-review/index.aspx](https://www.sweetandmaxwell.co.uk/british-tax-review/index.aspx) 1 See Ignorance used to be bliss ([smh.com.au](smh.com.au)) published by the Sydney Morning Herald on 3 February 2009. 2 See “Generative AI models—the risks and potential rewards in business”, KPMG International, April 2023 publishe

FAQs

What is the main purpose of the article on generative AI in tax?

It encourages tax professionals to learn how to work with generative AI tools to drive greater knowledge and insights, and to complement rather than compete with existing work.

Why do some professionals react with fear or rejection to ChatGPT?

The article notes that media and professional reactions often amplify concerns about automation going out of control, changes to education, and job impacts for knowledge workers.

How does the article describe the role of ChatGPT in tax work?

ChatGPT is framed as an extension of an individual, teams, and organizations—more like a collaborative colleague or co-pilot than a simple virtual assistant.

Oct 22, 2026

Uploaded by Himbo