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How artificial intelligence will transform tax

This two-part episode of Tax and Law in Focus podcast explores the opportunities and challenges that GenAI will create for tax leaders.

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Episode 17 - Part 1


Episode 17 - Part 2


This two-part episode of the Tax and Law in Focus podcast, hosted by Susannah Streeter, delves into the far-reaching effects of generative AI (GenAI) on the tax sector. To address this pressing topic, the podcast welcomes Marna Ricker, EY Global Vice Chair – Tax; Catalina Garcia Cure, EY Global Tax AI Leader; Daren Campbell, EY Americas Tax Technology and Transformation Leader; and Matthew Duncan, Head of Thought Leadership on the Future of Work, Microsoft. The conversation focuses on how GenAI is poised to revolutionize tax functions.

The discussion emphasizes GenAI’s role in enhancing efficiency by automating data-heavy tasks and its potential to transform compliance by increasing accuracy and reducing error rates. Notably, GenAI’s capability to process and analyze real-time data is highlighted as a game-changer, allowing tax professionals to shift from traditional compliance to a more strategic and advisory role within their organizations. The panelists explore various applications of GenAI, from improving day-to-day operations to reshaping strategic planning and forecasting in tax functions.

They also address the cultural shift needed to integrate GenAI successfully, including the necessity for ongoing training and adjustment in workplace dynamics. It discusses the practical steps tax leaders can take to harness its potential effectively, providing a roadmap for integrating artificial intelligence (AI) into tax practices for enhanced decision-making and strategic advantage.

Key takeaways:

  • Understand how GenAI will transform tax functions by automating routine tasks and enabling real-time strategic decision-making. Learn how AI can improve the accuracy of tax reporting and compliance, reducing the risk of errors and disputes.
  • Appreciate how GenAI facilitates a strategic approach to tax, turning data into actionable insights for business strategy.
  • Gain insight into how GenAI is reshaping tax professionals' roles and required skills, emphasizing analytical and strategic capabilities over routine data management.

Presenters


Susannah Streeter
International broadcaster and financial analyst

Podcast

Episode 17

Part 1 and 2

Duration

54m 7s

Podcast

Episode 17

Part 1 and 2

Duration

54m 7s