AI Auction debuts tax consultant chatbot

South Korean software startup AI Auction said Tuesday it has launched a tax consultant chatbot called “K-engine,” specializing in providing verified information on various tax regulations such as property and corporate tax.

Unlike OpenAI’s ChatGPT, which is trained on freely distributed data online, K-engine is trained with a specialized legal database that has been verified and compiled by legal experts and professors, the company said.

As such, the chatbot is expected to rectify a major drawback associated with generative AI models, namely hallucination – a tendency of AI to give falsified information.

“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.