Artificial intelligence and tax: What firms need to know
You may have heard talk of artificial intelligence (AI) and how this ever-advancing technology will reshape the future. What you may not realize is the future is here. We live in an AI-enabled world, complete with technologies like talk-to-text, social media monitoring, even smart vacuum cleaners! AI has also made its mark on business, and the tax and accounting profession is no exception. While some have chosen to bury their heads in the sand, savvy accountants are learning about the intricacies of AI, where it falls short, and how AI can improve their practice. To prepare for the new age of accounting, an understanding of AI is critical and will serve as the differentiator between firms who thrive and those who fall stagnant.
To help tax professionals better understand AI, this white paper looks to help understand this technology and take a closer look at its potential impact on the tax profession.