WSJ Tech Live 2024

In this video, Christine Kashkari and Stephen Estes discuss the impact of AI on the tech industry's tax and accounting processes. They delve into how AI is transforming professional services and the challenges posed by recent tax law changes, including the 2017 Tax Cuts and Jobs Act. The conversation also touches on the future of accounting with AI advancements and the potential shifts in tax policies depending on upcoming election outcomes.

• AI is significantly impacting the tech industry, particularly in professional services like tax and accounting, where it is automating processes and analyzing large data sets for risk assessment.
• Recent changes in tax law, notably the 2017 Tax Cuts and Jobs Act, have had a profound impact on the tech industry, particularly through the reduction of the corporate tax rate and the capitalization of research and development expenses.
• The future of the accounting industry involves leveraging AI technology to address the talent shortage and enhance service efficiency, allowing professionals to focus more on advisory roles rather than traditional accounting tasks.