The Use of AI in Tax: Challenges Today, Innovations Tomorrow

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There’s a lot of potential use cases for AI in the tax function, but it’s not without concerns and challenges. From identifying anomalies to analyzing key ETR drivers and variances, this transformative power extends beyond compliance, enabling organizations to provide greater value. So, what can organizations take now to lay the groundwork and reap the rewards? Tax teams that invest in the right skills, training, and technology now will position themselves for continued success. Automating and standardizing routine, manual tasks and calculations enables tax teams to ensure data consistency and accuracy while enhancing compliance. This in turn will boost the reliability of generative AI models and allow tax teams to spend more time focusing on strategic, high-value activities. This session will explore the intersection of AI and tax technology, sharing strategies for future-proofing your tax team. Key learning objectives include: • Current tax landscape and the rise of AI • Barriers to AI adoption within tax functions • Short term methods and insights available without full AI adoption • Future applications of AI for the tax department • How and where to begin in your AI journey