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How AI can transform the way accountants work — for the better

ThomsonReuters

The transformative impact of AI in accounting How can accounting firms leverage AI? Let’s take a look at what we can expect from AI in the near future, and the precautions accounting firms should take to ensure accuracy, trust, and data security. How can accounting firms leverage AI? Client support.

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How AI transformed the tax and accounting profession in 2023

ThomsonReuters

By automating these mundane tasks, tax professionals can allocate more time to strategic planning, analysis, and providing valuable insights to their clients. This enables tax professionals to make more informed decisions and offer valuable insights to their clients. It’s all about the data.

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Overcoming generative AI risks within tax

ThomsonReuters

As open-source generative AI platforms (like ChatGPT) gain momentum, there are concerns around accuracy, security, and privacy — especially when it comes to handling clients’ sensitive tax information. The basics of generative AI in tax So, what exactly is generative AI and how does it work within the tax and accounting profession?

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Staying up to speed with artificial intelligence in accounting

ThomsonReuters

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. Is your firm ready?

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Embracing the GenAI wave: Key insights for tax and accounting professionals

ThomsonReuters

As such, many forward-looking firms are already adopting solutions to help them take advantage of this enormous opportunity. For accounting firms, GenAI offers the ability to streamline processes, boost efficiency, and derive meaningful insight from client data. This helps in reducing the risk of non-compliance.

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How AI will impact the tax profession

ThomsonReuters

In the new Future of Professionals report, key findings demonstrate how AI can enhance and empower human talent in the tax profession, empowering a new breed of advisors to provide strategic guidance, create new opportunities, and deliver more value than ever before. Yet, these opportunities are not enough to achieve real transformation.

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Managing busy season with a shortage of accountants

ThomsonReuters

Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge.