Customs should accelerate AI usage to reduce cost, physical interface with trusted taxpayers: CBIC chief

The Central Board of Indirect Taxes and Customs (CBIC) is planning to increase its use of artificial intelligence and real-time analytics to reduce the need for direct interaction with taxpayers. This move aims to create a more streamlined and trustworthy system for customs transactions. By accelerating AI usage, the Customs department hopes to cut costs and improve efficiency, ultimately benefiting small businesses through deferred duty payment schemes. This shift towards a more digital and automated environment is expected to continue in the coming decade.

Why it matters

The use of AI and real-time analytics is expected to reduce costs and improve efficiency in the Customs department. This could lead to faster and more accurate processing of imports and exports, which could benefit businesses and the economy.

Market impact

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