Every day, artificial intelligence (AI) is helping people and computers achieve extraordinary feats. It’s common to imagine it as the helpful humanoid counterparts that we see in scientific television shows. However, AI offers a much more positive impact in nearly every aspect of our society, including tax and accounting.
AI is a combination of many different technologies applied in different functions through various applications. And it’s here to stay. From 2017 to 2018, AI was one of the fastest-growing expense categories for tax and accounting firms. It’s clear that technology is gaining importance in the industry, so learning how to use and embrace it is vital to the future success of your firm. We’ve identified seven key lessons from the industry’s current experience with AI that will help tax and accounting firms keep on top of developments.
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