Robots Will Soon Do Your Taxes. Bye-Bye, Accounting Jobs
— February 20, 2017
By Vasant Dhar
Machines won’t be able to automatically file taxes with the IRS for a few years. But do these commercials signal that robots can come close, requiring fewer human experts, mostly for sanity checks? Is another human profession on the verge of biting the dust?
It sure seems that way. As my research shows, robots are best-suited to predictable tasks when the cost per error is low. As a task becomes less predictable and a robot makes more mistakes, the automation is worth it only if those mistakes don’t carry significant costs. For example, driverless cars make few errors, but those mistakes can be expensive and deadly. In contrast, most tax return decisions, especially the simpler ones, aren’t terribly risky, as they’re based on massive amounts of historical data on which the machine learns to anchor its decisions.
Read the full article as published in WIRED.
Vasant Dhar is a Professor of Information Systems.