Explore the Impact of Generative AI on Finance and Taxation

Abstract

With the rapid development of generative AI in today's era, the application of financial sharing systems in the corporate finance and taxation fields has been continuously deepening, prompting the operation and management models of modern financial systems to transform towards digitalization and intelligence. This has greatly changed the appearance of enterprises and influenced their upgrading, efficiency improvement, and revenue generation. This paper takes Xiaomi's Financial Sharing Center and Deloitte as research objects, adopts the case analysis method and literature research method, and combines the technical characteristics and development status of generative AI to analyze its specific applications in different enterprises' financial accounting, fund management, tax declaration, risk control and other aspects, and explores the impact of generative AI on aspects such as the improvement of financial and tax efficiency, cost optimization, and risk management and control. The research finds that the application of generative AI has significantly improved the efficiency and accuracy of corporate finance and tax work, but it also faces various deficiencies and challenges. Accordingly, this paper puts forward a number of relevant suggestions to enrich the application research of generative AI in the corporate finance and taxation fields and provide a reference for the digital and intelligent transformation of other enterprises.