Tax and Law in Focus

EY

Welcome to EY’s Tax and Law In Focus podcast series, where we explore the biggest business issues of the day through a tax and law lens. Each episode is packed with exclusive insight and analysis from EY professionals and independent industry thought leaders from across the globe.

  1. 2024. 08. 07.

    How GenAI will impact the law department

    This episode of the EY Tax and Law in Focus podcast, hosted by Susannah Streeter, explores the transformative impact of generative AI (Gen AI) on the legal sector. Our panel includes Jeff Soar, EY Global Law Leader; Saskia Vermeer-de Jongh, Partner in HVG Law and AI and Digital Law Leader; and Heather Deane, former EY Americas Law Managing Director, now Director at The Clean Fight, an accelerator for climate tech start-ups. The discussion highlights the strategic implications for legal departments and broader business operations as the use of GenAI grows. Key topics include the various roles legal departments will play in GenAI governance and adoption, from advising businesses on compliance with rapidly changing laws and regulations to using GenAI tools to enhance efficiency and free up time for higher-value tasks. The panelists stress the importance of proactive risk management and the establishing of robust GenAI governance frameworks to ensure ethical and legal compliance. The episode delves into the differing regulatory approaches, with the EU focusing on human rights and product safety, the UK leveraging existing legislation with a principle-based approach and the US emphasizing corporate responsibility and self-regulation. Additionally, the conversation addresses the disillusionment some feel about GenAI and the necessity for a cultural shift within legal departments to embrace what it has to offer, along with the importance of ongoing training and support from data scientists and engineers for legal teams.  Understand how GenAI can revolutionize legal departments by automating routine tasks, enhancing efficiency and improving compliance and risk management. Learn the strategic role of legal departments in GenAI governance, emphasizing proactive risk management, ethical considerations and regulatory compliance. Appreciate the need for a cultural shift within legal teams, highlighting the importance of ongoing training and collaboration with business teams to leverage GenAI's full potential. Gain insights into the differing global regulatory approaches to GenAI and the practical steps for implementing it in legal practices, including developing clear governance frameworks and integrating data-driven strategies. EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The views of third parties set out in this publication are not necessarily the views of the global EY organization or its member firms. Moreover, they should be seen in the context of the time they were made.

    45분
  2. 2024. 06. 11.

    How artificial intelligence will transform tax (Part 2)

    This two-part episode of the Tax and Law in Focus podcast, hosted by Susannah Streeter, delves into the far-reaching effects of generative AI (GenAI) on the tax sector. To address this pressing topic, the podcast welcomes Marna Ricker, EY Global Vice Chair – Tax; Catalina Garcia Cure, EY Global Tax AI Leader; Daren Campbell, EY Americas Tax Technology and Transformation Leader; and Matthew Duncan, Head of Thought Leadership on the Future of Work, Microsoft. The conversation focuses on how GenAI is poised to revolutionize tax functions. The discussion emphasizes GenAI’s role in enhancing efficiency by automating data-heavy tasks and its potential to transform compliance by increasing accuracy and reducing error rates. Notably, GenAI’s capability to process and analyze real-time data is highlighted as a game-changer, allowing tax professionals to shift from traditional compliance to a more strategic and advisory role within their organizations. The panelists explore various applications of GenAI, from improving day-to-day operations to reshaping strategic planning and forecasting in tax functions. They also address the cultural shift needed to integrate GenAI successfully, including the necessity for ongoing training and adjustment in workplace dynamics. It discusses the practical steps tax leaders can take to harness its potential effectively, providing a roadmap for integrating artificial intelligence (AI) into tax practices for enhanced decision-making and strategic advantage.

    23분
  3. 2024. 06. 11.

    How artificial intelligence will transform tax (Part 1)

    This two-part episode of the Tax and Law in Focus podcast, hosted by Susannah Streeter, delves into the far-reaching effects of generative AI (GenAI) on the tax sector. To address this pressing topic, the podcast welcomes Marna Ricker, EY Global Vice Chair – Tax; Catalina Garcia Cure, EY Global Tax AI Leader; Daren Campbell, EY Americas Tax Technology and Transformation Leader; and Matthew Duncan, Head of Thought Leadership on the Future of Work, Microsoft. The conversation focuses on how GenAI is poised to revolutionize tax functions. The discussion emphasizes GenAI’s role in enhancing efficiency by automating data-heavy tasks and its potential to transform compliance by increasing accuracy and reducing error rates. Notably, GenAI’s capability to process and analyze real-time data is highlighted as a game-changer, allowing tax professionals to shift from traditional compliance to a more strategic and advisory role within their organizations. The panelists explore various applications of GenAI, from improving day-to-day operations to reshaping strategic planning and forecasting in tax functions. They also address the cultural shift needed to integrate GenAI successfully, including the necessity for ongoing training and adjustment in workplace dynamics. It discusses the practical steps tax leaders can take to harness its potential effectively, providing a roadmap for integrating artificial intelligence (AI) into tax practices for enhanced decision-making and strategic advantage. EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The views of third parties set out in this publication are not necessarily the views of the global EY organization or its member firms. Moreover, they should be seen in the context of the time they were made.

    31분

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Welcome to EY’s Tax and Law In Focus podcast series, where we explore the biggest business issues of the day through a tax and law lens. Each episode is packed with exclusive insight and analysis from EY professionals and independent industry thought leaders from across the globe.

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