TX and GenAI: Feedback

An immense ‘thank you’ to the WU Tax Law Technology Center for the May/June segment of their 2024 course, which focused on AI (artificial intelligence), GenAI (generative AI), and LLMs (large language models like ChatGPT). It was enormously educational and enlightening, with a stellar cast of contributors.

It also allowed us to investigate the relationship between tax transformation (TX) and AI tools in depth, and base our findings on facts rather than conjecture. If we could sum it up in one statement, it would be: 

“TX is about tech-driven change in tax, and over time,
AI technologies will change and enable tax more than any that went before.” 

Here are some expectations about the nature of that change:

• AI use cases are extensive and will ultimately impact every aspect of tax knowledge work and operations
• The impact of AI is already here but will grow and deepen over time at an accelerating pace
• It’s not magic! AI is powerful, but only once the human-machine relationship has been adequately learned
• The accuracy and abilities of AI will continue to develop at speed, so future outcomes are uncertain
• There is no end game. A transformed state is required to support continuous adaptability with no end in sight
• AI elevates tax’s value proposition. The demand for (augmented) tax skills will increase, not decrease.

Tax professionals need to be ahead of the AI curve, not behind it―so here is how we propose to help you.

We will send a copy of our new back story for AI, GenAI, and LLMs to the first ten people who contact us!

But wait a minute; what is a ‘back story’? Let’s explain:

Back stories are Agile stories that explain topics in straightforward, non-technical language for astute non-specialists. They are generic (the same for everyone) and concise enough to be read in 5 to 10 minutes. They enable the reader to grasp conversations on the topic and understand the implications of decisions.

Back stories provide the background context needed for more specific (company or solution dependent), in-depth user stories.

FYI … Back stories are available as part of our Xytobase TX knowledge management product.

So, TX improves technology adoption in tax and AI is no exception.

Plus, if you would like your free ‘AI for tax’ back story, leave an article comment, a website request, or send me a personal message via LinkedIn or #tacs. Please hurry!

Happy AI’ing!