The Future of Tax Professionals: Embracing AI, Regulation, and Talent Diversity

As the regulatory landscape evolves and technology disrupts, what must tax professionals do to ensure their career survival? How will Global Minimum Tax mandates and the changing dynamics of the professional workforce affect tax strategies going forward?

A recent report by Thomson Reuters — AI is the Catalyst for Transforming Every Aspect of Work — analyses these critical issues. This June 26, Join CXOciety and Thomson Reuters for a roundtable discussion on these topics and more. Key highlights:

• The unstoppable rise of AI in tax strategies: The rise of artificial intelligence (AI) and its implications for tax and trade functions. AI-powered technologies are transforming traditional processes, enhancing efficiency, and enabling more data- driven decision-making across functions, with more exchange and visibility of data than ever before.
• The shifting regulatory landscape: How Global Minimum Tax mandates, implementation of e-invoicing, and other global regulations impact business and tax professionals.
• The need for diversification in talent pools: The need for professionals with a diverse skill set, supplemented by technology, to address emerging challenges and capitalize on new opportunities.
• The changing dynamics of the workforce: How the talent pool in the tax industry evolves with technological advancements and shifting market dynamics. The increasing demand for interdisciplinary skills, such as technology proficiency, business acumen, and cross-cultural competence, as well as remote work and flexible employment arrangements.
• Adapting to the future: Best practices for professionals looking to adapt to the changing landscape of tax. Continuous learning, upskilling, and staying abreast of industry trends and emerging technologies to remain competitive and future-ready in a rapidly evolving environment.