Skip to main content
Perspective:
Perspective

Unleashing the Potential of Generative AI in In-House Tax and Legal Functions

Unleashing the Potential of Generative AI in In-House Tax and Legal Functions01
3 MB PDF


Generative AI is poised to revolutionize in-house tax and legal functions within organizations, offering unprecedented potential for enhanced efficiency, accuracy, and insights. The recent advancements by OpenAI with ChatGPT-4o and Google's updated Gemini multimodal models have pushed the boundaries of AI capabilities, enabling the processing of text, images, and videos with higher reasoning abilities.

Our article delves into the transformative power of generative AI in tax and legal services, highlighting its ability to create human-like text, analyze complex data, and provide intelligent recommendations. At Deloitte Middle East, our development of the internal generative AI platform, Genie, exemplifies the significant advancements and value generative AI can bring to these functions.

Key topics covered include:

  • Real-world applications of generative AI in tax functions such as VAT analysis and compliance with Saudi tax regulations.
  • The role of AI in enhancing transfer pricing by providing comprehensive frameworks for analyzing and documenting intercompany transactions.
  • The challenges associated with data privacy, security, and the need for explainable and transparent AI systems.

The future of in-house tax and legal functions is increasingly digital and data-driven, with AI enabling professionals to become strategic advisors and proactive legal risk managers. Organizations must invest in the right talent, tools, and processes to realize the full potential of generative AI. This includes identifying high-value use cases, developing robust data strategies, investing in explainable AI technologies, and fostering a culture of continuous improvement.

The advancements in generative AI herald a new era for in-house tax and legal functions, presenting opportunities for innovation and disruption. While challenges remain, the strategic adoption of these technologies will enable organizations to thrive in the age of AI, setting new standards for excellence in tax and legal services.

Mohamed Serokh

Deloitte - Middle East
As the Growth Leader for our Tax Services practice, Mohamed is a key member of our leadership team, responsible for spearheading our growth strategy in the Middle East. This includes strategy to identify and pursue new market opportunities, creating and implementing business development initiatives, reflecting the latest industry trends, and collaborating with the wider tax leadership team to achieve revenue growth targets. As Growth tax Leader, Mohamed is also responsible for leading strategy on accelerating our growth platform, proposal management, driving and promoting client excellence, and promoting our capabilities and industry leadership through marketing and eminence efforts. In addition to spearheading our growth initiatives, Mohamed leads our award-winning and market-leading regional Transfer Pricing team. The team’s transfer pricing services span three key areas: consulting, controversy and compliance, and supporting clients in all industries and sectors. As a Transfer Pricing specialist and a former regulator, Mohamed has more than 25 years’ experience in transfer pricing, international tax, strategic, economic and business consulting across a number of industry segments. These include the automotive, construction and materials, energy, financial services, pharmaceutical, telecommunications and media, technology and travel and leisure sectors. His experience includes leading and managing global documentation and planning studies, as well as drafting Advanced Pricing Agreements (APAs) for submission to tax authorities in jurisdictions worldwide. Mohamed presents widely on transfer pricing and tax issues at seminars across the world and has been extensively published in the area of transfer pricing and tax on different platforms. In 2020, Mohamed was awarded the International Tax Review (ITR) Editor’s Choice Award for progressive work throughout the Middle East in Transfer Pricing and was nominated for the EMEA Transfer Pricing Practice Leader of the Year award. Mohamed was awarded an MBA (with distinction) from Warwick Business School, where he won an award for the overall best MBA degree of the year. Mohamed also holds MSc Economics (with distinction) and BSC Economics (first class) degrees from the University of London.
View Profile

Did you find this useful?

Yes
No

Thanks for your feedback

Your feedback is important to us

To tell us what you think, please update your settings to accept analytics and performance cookies.

Need help updating cookies?