The future of tax

André Teixeira considers the vital role that artificial intelligence and automation will play in the tax workplaces of the future

The Industry 4.0 drive and the continued maturation of artificial intelligence (AI) technology is fundamentally changing the way that every sector operates. It is not just industrial sectors, where the idea for AI hatched, that are facing this transformational wave. The financial sector, and particularly legal and taxation professionals, are impacted.

In his recent book ‘Tomorrow’s Lawyers’, Richard Susskind argues that the legal world will change more in the next 20 years than it has in the past two centuries. He believes that this change will include major law firms setting up low-cost service centres for routine legal work, a global upsurge of more than 1,000 legal technology start-ups, and an increasing interest in the potential of artificial intelligence.