Embracing the possibilities of the AI-powered firm

The AI-powered tax and accounting firm of the future is already a reality. Future-focused firms rely on solutions that leverage machine learning and predictive intelligence to improve efficiency, automate routine tasks and reduce errors, allowing for more time to focus on higher value services. Recent AI advancements, like generative AI, have the potential to completely transform the nature of work for the tax and accounting professional by automating complex data processing, providing deeper insights, and streamlining the creation of outputs. 

Research shows firms willing to embrace technological innovations, including AI, show higher growth and profitability, and companies are taking notice. The 2024 Wolters Kluwer Accounting Industry Report shows that over 50% of accounting firms are considering increasing their usage of artificial intelligence tools to keep pace with industry changes and technological advancements. 

Impact of AI on the tax and accounting profession

AI advances and the implementation of generative AI will change the way tax and accounting professionals think, work, learn and collaborate. Professionals will be able to focus on higher-level functions that produce better outcomes for their clients. Client relationships are the core of the accounting practice. AI implementation should be considered a viable way to supplement and support tax, accounting, and audit professionals to enhance the relationship and value provided to their clients.

Embracing AI also means adapting to new skills and learning more about the intricacies of machine learning and data analytics. Gaining trust and ensuring accuracy are key challenges with generative AI that also represent one of the ways the profession may adapt as AI usage expands.

Mid adult business professional sitting at table with laptop and talking on mobile phone. Businessman working in office.
Our approach to Artificial Intelligence in tax and accounting 
Our development strategy is centered on bringing firm intelligence to your firm. We actively leverage AI that is human-centric, transparent, and rooted in our trusted data sources to enable you, the tax and accounting professional, to efficiently work at the top of your capabilities and deliver the insights you need to drive value for you clients. 
Demonstration of Copilot in CCH Axcess at Microsoft Build 2024 Conference Keynote
Watch Video

Elevating the professional with CCH Axcess and Microsoft Copilot

Introducing an innovative new extension to CCH Axcess using Microsoft Copilot. The Copilot extension features a conversational way of interacting with workflows within CCH Axcess. Customers can use natural language to ask questions to query information, but also start actions. Check out the live demo from the Microsoft Build 2024 Conference Keynote.

Read More About CCH Axcess and Microsoft Copilot
How Wolters Kluwer builds firm intelligence with AI

Latest Artificial Intelligence News and Expert Insights

Awards and recognition

2023 AI Excellence Award

AI Excellence

CCH Axcess Engagement Suite

Twinfield Accounting

BIG Artificial Intelligence Excellence Award - 2023

BIG AI Excellence Award 2024 Xpitax
AI Excellence
Xpitax Outsourcing – Xpitax Scan Optimizer
BIG Artificial Intelligence Excellence Award - 2024
2019 CPA Practice Advisor Tax & Accounting Technology INnovation Award

CPA Practice Advisor

CCH Axcess iQ

Tax & Accounting Technology Innovation Award - 2019

APAC Insider Business Awards 2023

Global Business Awards

TAA: Tax & Accounting

Technology Firm of the Year - 2023

Back To Top