Our digital future
A perspective for tax and legal professionals
The tax and legal professional will continue to be deluged with a significant pace of change and associated risk as we continue into the digital future. It is hard to be confident of what precisely that future holds but we believe you can discern today the defining digital trends, anticipate the impact that they will have and set plans accordingly.
We have identified the defining technology changes we expect, the effect we believe they will have in the tax and legal arena, the impact that will have on businesses and the way it will shape the future working environment a tax and legal professional can expect.
- Data – big data sets, massively improved performance and memory capacity at scale;
- Process automation – robotic process automation and integration of financial and other systems;
- Decision making – AI augmenting compliance and consulting capabilities;
- Democratization of knowledge – publicly available and easily accessible knowledge and information: A "Google for tax and legal rules";
- Open networks – talent sourcing, crowd problem-solving and sharing ecosystems.
In our view these trends will define the way tax authorities and regulators transform and the way businesses will have to respond. These trends are also opportunities for businesses and thus should form the foundations of any digital tax and legal strategy and associated transformation.
Consider the following milestones when mapping out your digital transformation journey:
We anticipate a professional environment almost overwhelmed by rapid change, with an increased demand on the time and energy of those practicing within it.