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Artificial Intelligence in Transfer Pricing
Application Possibilities of TP Tools – Practitioner Perspective
This article summarizes the presentation and discussion of our Workshop at the Vienna University of Economics and Business Administration (WU) in Vienna on May 16th, 2018. It describes prerequisites of digitalization as the basis for artificial intelligence (AI) readiness in transfer pricing (TP), shows a TP documentation workflow tool and attempts to describe the variety of potential future TP applications from communication to operational and forensic TP.
1. Big Data and Digitalisation
How does a rocket appear to a man from the Stone Age? Probably like magic. In the last decades we became familiar with mobiles phones, electromagnetic induction, voice-over internet protocol, all kinds of imaging technologies, social media, drones, and a variety of fascinating applications dropping in all areas of daily life. Combining technologies leads to huge innovations, as we have seen in the past century.
And now: It’s the bunch of data we are facing. Is it magic that parents learn from the diaper ads their teenage daughter receives that she may be pregnant? Not at all. How come that Google Maps is the best traffic jam predictor? It’s the mass data they receive from all mobile phones on the moto...