Generative AI for Tax
Redefining tax in the age of GenAI
Generative AI - The future, now.
As Generative artificial intelligence (GenAI) continues to revolutionise how works gets done, the tax profession is no exception.
What does GenAI mean for tax?
Here, we provide insights, resources on developments in GenAI for tax compliance, strategy and forecasting and examples of how Deloitte is working with our clients and alliance parties to unlock its potential to develop the future of tax, now.
Explore how Deloitte is harnessing AI
From cutting-edge tax solutions like Intela to exploring the implications of Gen AI in the legal space, Deloitte is exploring all the ways these breakthrough technologies can help us all step into the future.
What opportunities and challenges will Gen AI bring?
Deloitte’s 3Q23 North American CFO Signals Survey found that a sizeable proportion of CFO’ organisations (42%) are experimenting with Generative AI, while 15% are incorporating it into their business strategy. Why? We believe that CFO and their organisations see the potential of Generative AI to reduce costs, improve customer/client experience and increase productivity and want to harness these benefits.
But what scale of investment will businesses need to make? Have they got the necessary Data, technology and talent to implement Generative AI? The Survey results suggest no―not yet anyway. But for now, CFO appear to be curious about the upsides and downsides of Generative AI and what opportunities—as well as challenges—the technology might bring.
For a more detailed look at the CFO Signals Survey, download the report
Our thinking
Chuck Kosal
Jennifer Deutsch
Robbie Robertson
