None of this is new. The difficulties with tech stem not from the technology itself but everything that surrounds it. Gartner, a leading tech consultancy firm, published research to this effect a decade ago (see image).
Since then, progress has been painfully slow. However, the latest report, Gartner’s Top Strategic Predictions for 2024, finds new grounds for optimism, largely due to:
- Generative AI (GenAI)―GenAI is having a more profound impact on knowledge work, intellectual skills, and expert services than any technology that went before, and at a faster pace; and,
- “Businesses will improve at overcoming their worst traits” (a direct quote from the report)―the primary reason being AI, GenAI, and LLMs (large language models) bringing previously improbable or impractical solutions into the realm of reality and practicality for tax.
As such, the hypothesis is that AI tools can plug the knowledge, skills, and capabilities gaps that have long hindered high-quality, cost-effective enterprise & tax technology. However, what is not under contention is that this will only apply to those who are prepared.
But, as the pace of change quickens and the associated chaos sharpens, how does tax prepare?
The answer is simple―and remains the same as ten years ago―remove tech risk by learning how to deal with the impact of technology in the first place. This applies to all technologies, not just one, and is the ultimate attribute of a transformed state.
In this regard, ‘transformation’ is the study of tech-driven change, not technology per se; and tax transformation (TX) offers a view tailored to the tax industry. Only one training supports this―the Smart Tax Tech & Transformation certification program, while explaining how to future-proof tech-driven tax functions.
So, join us before embracing GenAI in earnest. Remember, it’s not about the technology …
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