FOR YOUR PRACTICE | TAX LAW
The Rise of AI: Revolutionizing Tax Law and Beyond BY DANIEL S. HELLER, ESQ. AND SETH E. GOLDSTEIN, ESQ.
While AI offers notable opportunities to improve efficiency, enhance analysis, and expand access to certain services, it also introduces significant risks, including inaccuracies, ethical dilemmas, and potential biases.
IN AN ERA OF RAPID TECHNOLOGICAL ADVANCEMENT, Artificial Intelligence (AI) is profoundly influencing the legal profession, including tax law and allied areas such as estate and family practice. For members of the Maryland State Bar Association’s (MSBA) Taxation Law Section, familiarity with AI’s capabilities and limitations has become increasingly important. While AI offers notable opportunities to improve efficiency, enhance analysis, and expand access to certain services, it also introduces significant risks, including inaccuracies, ethical dilemmas, and potential biases. This article serves as a primer for AI’s core principles, its applications and implications in key legal domains, and the need for a measured, oversight-driven approach to its integration. Understanding Artificial Intelligence Artificial Intelligence encompasses computer systems engineered to perform tasks requiring human intelligence, such as learning, reasoning, and problem-solving. Key subsets include machine learning, where algorithms refine performance based on data patterns, and natural language processing, which facilitates human-like text generation and interaction. While AI’s origins date back to the early 1900s, its evolution accelerated in or around the 1950s,1 and recently, exponential growth in data, computing power, and algorithms has made it ubiquitous, powering everything from predictive analytics to automated decision-making in legal contexts. 1
www.ibm.com/think/topics/history-of-artificial-intelligence
MARYLAND BAR JOURNAL | VOLUME 8 ISSUE 1
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