AI Technology: A key to professional expertise, Says Rakesh Singh

Senior IAS officer Rakesh Singh underscored the growing importance of Artificial Intelligence (AI) in enhancing professional expertise, stating that AI has become an indispensable tool for efficiency and innovation. He was speaking at the 37th Annual Conference organized by the Karnataka State Chartered Accountants Association at Gayatri Vihar Hall in Bengaluru. The event commenced with the traditional lamp-lighting ceremony.

Addressing the gathering, Singh remarked that AI is revolutionizing professional careers by fostering creativity and problem-solving. He lauded the association for organizing the conference at a crucial juncture when AI-driven solutions are shaping industries. He further noted that AI technology simplifies complex processes, enabling professionals to deliver faster and stress-free services.

CA Vijaykumar M. Patel, President of the Karnataka State Chartered Accountants Association, stressed the need for professionals to adapt to technological advancements. He stated that in today’s competitive environment, embracing AI is essential for staying ahead in the accounting profession. The association, recognizing this shift, has committed to integrating AI into professional practices. Patel added that the conference would serve as a platform to educate chartered accountants on the dimensions and applications of AI. Attendees would also receive free access to over seven AI tools designed to enhance their efficiency.

Prof. Dr. Nigam S. Nuggihalli, the chief guest, emphasized the importance of staying updated with evolving tax laws and financial regulations. He pointed out that professionals must grasp the nuances of taxation and regulatory changes to excel in their careers. Highlighting AI’s role in accounting, he suggested that adopting stress-free AI-powered solutions would help streamline financial management and tax compliance.

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The conference featured discussions on AI’s impact on the financial sector, with experts providing insights into the future of AI-driven accounting. The event also included interactive sessions on AI-based taxation models, automation in auditing, and data-driven decision-making. Participants were encouraged to leverage AI-powered tools to enhance their professional expertise.