Intuit, the company behind TurboTax, has revealed grand plans to help its 100 million small business and consumer customers nail their finances with a new generative AI tool it calls Intuit Assist.
From launch, the finance software company will make its AI helper available in the TurboTax application, but in the months that follow, other products in its finances portfolio are set to get an AI makeover, too.
With the launch of Intuit Assist, the company hopes to give entrepreneurs and small businesses access to the same possibilities as larger corporations – something that they might never have had access to before and a chance to increase profitability and financial efficiency.
Beginning with TurboTax, the company hopes to reduce tax prep time and improve accuracy, all while taking into account each individual’s personal tax situation and the most recent information.
Customers can get access to the assistant today where they can generate things like personalized tax checklists, but the company has already committed to rolling out further enhancements soon in the runup to the 2023 tax season.
More broadly, the company will apply its AI assistant to Credit Karma where it can help individuals understand their financial situation more easily. It also has plans to roll out the technology across QuickBooks, where it will go on to help business owners understand those dreaded finances, and Mailchimp, where it can help generate data-backed marketing for ecommerce ventures.
Like Intuit Assist for TurboTax, the AI helper is already available to try across the company’s other three products, though to a smaller degree and in testing. A wider rollout is planned for the coming months.
TechRadar Pro asked Intuit about its plans to fund Intuit Assist and whether customers can expect to pay more for the privilege. The company did not immediately respond.