Episode 11: Leveraging AI to future-proof the tax function

Welcome to this episode of AI Unscripted, where the focus turns to the impact of artificial intelligence on the tax profession. Host Patrick is joined by Laurens, a director with a background in accounting and tax compliance, for a practical discussion on how AI is reshaping tax functions, from efficiency gains to strategic transformation.

Key topics include: 

• AI in the tax function: Laurens explains how AI is already integrated into daily tax work, supporting both efficiency and enhanced analysis and handling large volumes of structured and unstructured data. 2:21

• Tools and technology: The conversation covers the use of general AI solutions like Copilot and specialised tax tools such as Harvey, including the benefits of ring-fenced environments for data security and the development of territory-specific models for improved accuracy. 7:04 

• Balancing efficiency and quality: Patrick and Laurens discuss the dual role of AI in automating routine tasks and elevating the quality of tax analysis, with examples of measurable improvements in accuracy when using advanced AI models. 7:40

• Adoption challenges and upskilling: The episode addresses the need for upskilling, the importance of critical thinking, and strategies for training both generalists and specialists within tax teams to ensure future readiness. 11:06 

• Strategic implementation: Insights are shared on how organisations - large and small - can develop a clear tax technology strategy, align it with business goals and avoid the pitfalls of adopting AI purely out of fear of missing out. 16:49

• SMEs vs. multinationals: The discussion highlights differences in AI adoption between large companies and SMEs, noting that agility and focus can offset budget constraints for smaller organisations. 18:23 

• AI as a sparring partner: Laurens shares how AI tools can help reduce uncertainty in complex tax scenarios by enabling scenario analysis and supporting nuanced decision-making. 21:21

• Gamification and engagement: The episode introduces the "Capture the AI flag" gamification initiative, designed to encourage hands-on learning and adoption of AI tools within tax teams. 22:43 

• The future of tax professionals: Patrick and Laurens reflect on the evolving role of tax experts, the enduring need for human judgement and why a career in tax remains relevant and exciting in the age of AI. 23:24

Join us for an insightful look at how AI is transforming the tax landscape, the practical realities of adoption, and what it means for the future of tax professionals.