ChatRenta AI powered Chat-based Assistance

Tired of struggling with complex tax jargon while filing your returns in Spain? Our Team of experts has developed an innovative solution that uses AI-powered NLP techniques to provide users with chat-based assistance, making the tax filing process simpler, faster, and more efficient. Discover how this solution is changing the way taxpayers navigate the tax code in Spain.

April 13, 2023 Unlocking the secrets of this AI-Powered Solution

Taxes. Just the word alone is enough to make some of us break out in a cold sweat. And when it comes to filing your annual income tax return in Spain, things can get a little overwhelming. For many, this is an all-too-common experience.

This year, the Agencia Tributaria published a massive FAQ page on their website with information about everything from deductions to filing deadlines. But with 1500 PDF pages to sift through, finding the information you need can still be a daunting task. Using the power of advanced NLP techniques and the latest in AI technology, Our Team has developed an innovative solution that allows taxpayers to get the answers they need, in their own language and without having to wade through hundreds of pages of tax code.

The solution is simple yet effective: ChatRenta

How it works?

  • We downloaded all the information from the Spanish Tax Agency's FAQ page and divided it into chapters. Each chapter was then converted to embeddings, a technique that involves representing words or phrases as numerical vectors that capture their semantic meaning or contextual relationships with other words in a corpus of text.

  • With this information in hand, our Team can now perform semantic searches to identify the best candidate chapters where the information the user needs can be found. To provide users with a chat-based answer, M47 Labs sends the user's question and the three best candidate chapters to GPT (Generative Pre-trained Transformer) via API and receives the answer.

But our job doesn't stop there.

  • We also show the user the three best candidate chapters in addition to the answer, providing transparency and context. This approach ensures that users not only get the information they need but also have a better understanding of how the answer was arrived at.

The benefits of this solution are clear. Us mortals no longer have to spend hours sifting through complex tax jargon to file their returns. They can now simply ask a question in their natural language and receive a prompt, accurate answer. This can save taxpayers time and reduce the stress associated with navigating the tax code.

Moreover, our solution can be applied to any internal or external documentation. It offers an effective way to search and extract relevant information from large volumes of data quickly and accurately. For businesses, this means being able to access information quickly and easily, improving productivity and efficiency.

However, M47 Labs recognizes that some documentation may contain private information. In these cases, it is better to use a LLM that can be deployed into the client's cloud, ensuring that sensitive information is kept secure.

ChatRenta takes the complex problem of navigating tax code as a testament to the power of AI and NLP. By leveraging cutting-edge technology, our Team has made the tax-filing process more accessible and user-friendly, reducing the burden on taxpayers and businesses alike. With this technology, we can look forward to a future where AI and NLP make complex tasks simpler, faster, and more efficient.

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