The tax landscape is changing at pace, putting tax departments under immense pressure. The increasingly complex regulatory environment is driving business leaders to look for tech-enabled solutions which meet these external obligations and at the same time deliver the cost savings, time efficiencies, and innovation that their boardroom demands. It’s a topic that’s generating a lot of conversation in the industry, and so we decided to take action. Why talk about the future of tax if you can build it instead?

Our Ventures team in our Tax practice have been on a quest to apply artificial intelligence and machine learning to transform our business and the solutions we provide for our clients.

One of the ways we do this is by inviting the outside in, developing close collaborations with emerging technology businesses. These collaborations give us direct access to the best tech talent and cutting-edge disruptive technology.

An example of this is our teaming with Kortical, a ‘machine learning as a service’ provider, whose platform accelerates the creation of complex machine learning solutions from data to deployment. The models built on Kortical are powering significant operational efficiencies, automating key parts of labour intensive processes like tax returns. This frees up our people to deliver more high value work, and offers our clients a speedier, more streamlined service.

We’re committed to shaping the future of our profession, which is why we have also been working with Rainbird, a dynamic AI scale-up business to understand how we can automate complex decision making. Together, we are turning our tax knowledge into machine intelligence that replicates human reasoning, with more speed consistency and transparency.

We are always looking for new opportunities to expand our ecosystem so that we can continue to solve our clients’ biggest challenges. If you have a technology solution that could help build the future of tax, we would love to hear from you - helloventures@deloitte.co.uk.