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AI is cool, but isn’t quite great, yet.

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Amanda Stupka

March 06, 2024

AI continues to be that buzz word revolving around almost everything. And we’ve written a few blogs about it. Now don’t get us wrong, AI is cool and all, but it isn’t good enough yet to be fully reliable and be 100% accurate. Especially when the consequences involve the law, or a subset of law, taxes.

The Washington Post recently shared a review on how Turbo Tax and H&R Block are using AI chatbots for tax advice. Like we’ve said, AI is cool and all, but only a 50% success rate on advice is something we would not trust. Now some may think, it is only advice or answering simple questions and they aren’t doing your taxes. However, we look at it much differently, especially something that deals with the law. When it comes to law, you want (and need) to be 100% right all the time. If you take the advice from the bot and it’s wrong, it is you that’s dealing with the IRS, not the chat bot.

Humans are now being guinea pigs for all these new technology advances, which can be great, but in some cases not so great. Would you trust something that is roughly correct only 50% of the time? Read the full article here.

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