Intuit, a leading U.S. financial and accounting software company, has rolled out Intuit Assist, an advanced AI-driven digital assistant designed to help small businesses and individual consumers navigate financial complexities. The assistant is integrated across Intuit's flagship platforms: TurboTax, Credit Karma, QuickBooks, and Mailchimp.
Developed on Intuit’s proprietary Generative AI-based operating system GenOS, the digital assistant aims to provide personalized, data-driven insights and recommendations to the company’s global user base. For instance, Intuit Assist offers a personalized tax checklist in TurboTax and identifies cash flow hot spots in QuickBooks.
Intuit Assist leverages the AI-powered Tax Knowledge Engine in TurboTax to offer personalized answers based on user-specific tax situations. It also helps Credit Karma users with personalized financial advice and enables QuickBooks users to track spending anomalies and top-selling products. For Mailchimp users, the assistant helps in crafting personalized marketing campaigns.
Although generative AI offers groundbreaking opportunities, it also poses significant challenges, particularly concerning data privacy and accuracy. Intuit has implemented an AI governance team and outlined a set of principles to ensure ethical AI usage and data security.
Intuit Assist is already accessible to TurboTax customers and is gradually being rolled out to other platforms. The company plans to introduce more enhancements by the 2023 tax season.
Intuit's chief data officer, Ashok Srivastava, stated that they're not just investing in large language models but are building an entire operating system around it to revolutionize customer experiences.
The launch of Intuit Assist marks a significant step in Intuit's ongoing investment in AI technologies. It reflects the company's long-term vision of leveraging AI to provide intelligent, personalized solutions to its customers, thereby changing the way small businesses and consumers approach financial planning and operations.
