CASHING IN about how deeply AI will , or should be integrated , the emphasis should be on its potential to maximise productivity – not to replace jobs .
For any tax professional looking at the scope for applying the new breed of generative AI technologies to their processes , it remains vital to augment the use of these solutions with processes to detect and correct any errors as early as possible . As a result , the role of human specialists will remain essential to the integrity of accountancy processes for the foreseeable future .
The broader industry and government context is also driving the pace of techled change across the tax ecosystem . HMRC , for instance , is committed to accelerating the adoption of more sophisticated technologies in order to digitise tax at a fundamental level . As they deliver more changes , the industry will be forced to accommodate new ways of working , communicating and collaborating . Doing nothing simply won ’ t be an option .
A changing mindset for a digital future
Looking ahead , embracing Digital Transformation opens up a range of compelling opportunities to deliver process and business efficiencies .
Success , however , depends on adopting a mindset where tax is no longer about box-ticking and compliance but a crucial business priority with the potential to impact the bottom line .
Implemented as part of an integrated and holistic Digital Transformation strategy , organisations now have the opportunity to blend human capabilities with new technologies in ways that simply have not been possible before . Those that act sooner rather than later will be in a better position to deliver on the benefits that transformation has to offer as the speed of innovation continues to accelerate . � www . intelligentfin . tech
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