With TCJA Compliance So Complex, Firms Turn to AI

By:
Chris Gaetano
Published Date:
Apr 25, 2019
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A recent survey by Ernst & Young has found that the vast majority of tax professionals are turning to artificial intelligence software to help companies comply with the Tax Cuts and Jobs Act, according to Accounting Today. The survey of 277 corporate tax professionals found that 74 percent are dedicating extra time and technology resources, which includes artificial intelligence, to assist in complying with the new measures, and 62 percent are employing new technologies. Among those 62 percent of respondents, 39 percent are employing robotic process automation and 38 percent are using advanced data analytics. Many believe this upgrade process is not over, as 25 percent said they will continue allocating additional resources to implement the changes through this year. 

The NYSSCPA's upcoming Emerging Trends Conference will include a session discussing emerging technologies such as automation, cloud technology and analytics, which can help CPAs stay on top of all the changes occurring throughout the profession. 

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