Tuesday, June 25, 2024
28 C
Brunei Town

Meet K-engine, S Korea’s own AI tax consultant

SEOUL (ANN/THE KOREA HERALD) – AI Auction, a South Korean software startup, unveiled its latest innovation on Tuesday: a tax consultant chatbot named “K-engine.”

This specialised chatbot is designed to deliver accurate information on diverse tax regulations, including property and corporate tax.

Unlike OpenAI’s ChatGPT, which relies on freely available online data, K-engine is powered by a specialised legal database meticulously curated by legal experts and professors, ensuring the authenticity of its responses.

From left: A screenshot of ChatGPT’s response to a tax-related question versus a screenshot of K-engine’s response to a tax-related question. PHOTO: ANN/THE KOREA HERALD

This approach aims to eliminate a significant drawback associated with many generative AI models – the tendency to provide false or misleading information, a phenomenon known as hallucination.

“I couldn’t recall the specifics of regulations concerning corporate-owned property transfer tax and its rates,” a tax accountant surnamed Lee said.

“While ChatGPT provided me with tax rates without delving into specifics, K-engine gave extensive answers touching on not only the rates, but also tax assets across various categories.”

K-engine is currently undergoing further testing to enhance its output with minimal data input for wider applications across various legal sectors.

“We plan to expand its service scope to cover the entire tax domain, including value-added tax, real estate tax, and inheritance tax,” said AI Auction CEO Park Jong-bae.