Put strategy first
The first key decisions are strategic ones, like setting your tax department's goals for GenAI and how the technology fits into your work.
8 leading practices for standing up a GenAI program for tax
A strategic and technical guide for tax leaders to harness the power of GenAI in the tax function
Learn key steps for getting a Tax GenAI program off the ground
The energy around generative artificial intelligence (GenAI) in the tax function—and across the broader enterprise—has surpassed any disruptive innovation in recent memory. From making workflows more efficient, to extracting insight from massive volumes of data, to enhancing tax planning and reporting, to shifting how tax professionals work, its potential seems limited only by our collective imaginations.
GenAI is already reshaping the tax department
29%
of tax functions are already deploying GenAI
Source: 2024 KPMG Chief Tax Officer outlook survey
26%
of tax functions are currently exploring uses for GenAI
Source: 2024 KPMG Chief Tax Officer outlook survey
Seize the potential of GenAI for tax with eight leading approaches
Like most tax leaders, you are probably deeply invested in harnessing that unmatched energy into real results spanning productivity and performance. Our experience has revealed 8 leading practices for standing up a GenAI program to harness the power of GenAI in your own tax department.
Be an early adopter
Suspend your hesitation and take that first experimental step: Just try it.
Get your hands on the keyboard
In this complex space, knowledge really comes from interacting with GenAI tools.
Master prompt engineering
Better questions allow for better pattern recognition and accuracy.
Make it real with Retrieval Augmented Generation
Data injection gives the model access to your company's knowledge stories, giving the value of context.
Develop and deploy responsibly
Thoughtfully apply core concepts of data trust and security.
Keep a human in the loop
Human critical thinking skills are essential for building trust and confidence in GenAI.
Track the ongoing GenAI evolution
Know where GenAI is headed to help your tax department stay at the forefront.