How will technology affect pension protection? - Expert: Artificial Intelligence will play an important role in informality
To help in the declaration of contributions and social insurance, according to experts, artificial intelligence will affect the elimination of informality and will increase the number of contributors to social insurance by the subjects.
Nadia Elbasani Cyber security expert:
"The current model that Albania follows is the "pay as you go" model of pension financing. In this model it is essential to maintain a healthy balance between the number of contributors and the amount of their contribution with the number of retirees. It is actually simple to use AI to maintain this kind of balance, unlike currently it has not been so successful. Other countries like Italy and France use AI and technology in general to maintain this balance and also strengthen their social protection.”
But what contribution will artificial intelligence make in this sector?
"The use of artificial intelligence in this sector will only be the interweaving of all data of subjects, all employees and employers with all state institutions. If there is a discrepancy, then it will appear as a red signal or as an indication for even deeper controls and more specific audits. At this moment, the involvement of the tax administration will be needed, artificial intelligence serves to give this indication that in this sector or this subject is making an understatement."
According to Elbasani, the inclusion of technology seems like the only hope, after a long time of worn out trust, in tax administrative controls.
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