What’s in a name? Bots. Natural Language Processing. Machine learning. Yes, these will all impact tax departments, but when and how much are still very much unclear.
Tax professionals across every industry continue to run into a common problem: the constant confrontation with rapidly changing technology that is camouflaged by overly complicated terminology, with few people explaining things in language that laypeople can understand.
And the result of such over-complication? Tax professionals aren’t taking action and embracing the advantages of this future-forward, time-saving technology.
KPMG’s Co-Chief Tax Innovation Officer, Brad Brown, simplifies the monikers and explains the value that these advanced technologies can afford the tax department (after all, who wouldn’t want a tax bot?).
The benefits to embracing IA are overwhelming. As tax professionals, you have to decide if you will embrace this technology, understand it, get ahead of it, and be an earlier adopter, Brown says.
Otherwise, it seems, we should prepare to be left in the dust.