Harnessing AI to Smarten Up Your Tax Filling Efforts

There is a lot that human beings can do well, and yet there is nothing we do better than growing on a consistent basis. This tendency to improve under all possible situations has already got us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, based on its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience from every conceivable direction, but even after achieving such a monumental feat, technology will somehow continue to deliver the right goods. The same has turned more and more evident in recent times, and assuming a newly-launched upgrade ends up making the desired impact, it should only propel that trend to far greater heights moving forward.

Intuit, the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, has officially introduced a notable set of AI-centric enhancements for its Virtual Expert Platform so to drive highly-personalized experiences. As per certain reports, the upgrade saw the company introducing sophisticated AI models that match customers with the right expert at the right time. This is made possible by the technology’s granular level attention towards customers’ specific needs and experts’ profiles, capacity, and past performance. Next up, the move has brought various intelligent digital assistance tools into the fold, tools that accelerate the relevant procedures and bolster efficiency through the channel of automation. For instance, when a tax expert is able to leverage automation to conduct the tax filing, it instantly saves them from administrative, manual extraction, classification and transcription work to focus on more value-added services. In case the stated utility isn’t enough, these AI-powered digital assistance tools can also prove helpful in terms of providing a finely-tuned response to a user query.

“This tax season, AI will supercharge experts and experts will supercharge AI, helping to deliver advice at scale for customers and experts,” said Ashok Srivastava, Chief Data Officer at Intuit. “Intuit offers augmented intelligence that sits on the shoulders of its experts. With each interaction, our platform gets smarter, driving further automation of repetitive tasks, increasing accuracy, and allowing experts to focus on providing faster value to customers. Our goal is to cut filing times substantially by streamlining consumer and expert experiences with TurboTax Live Full Service.”

Hold on, there are some bits left to unpack. As a part of the latest development, Intuit has also brought out real-time information and suggestions. Based on consented customer data, previous and current conversations, and in-product activity, such suggestions empower the user with stuff like article recommendations, auto-complete suggestions, response snippets, and more. The idea behind making such an extensive support system available at the user’s disposal is, of course, to encourage quicker and more accurate resolutions during customer engagements. Now, what if I tell you that it’s still not all you are getting out of this upgrade. You see, Intuit’s platform is, from here onwards, well-equipped to provide in-depth summaries of every customer’s journey and touchpoints, and by doing so, it should enhance expert engagement and customer follow-up.

Founded way back in 1983, Intuit is today a massive name across the global financial technology landscape. The company’s excellence in using technologies, such as machine learning, natural language processing, and knowledge engineering, can be wholly validated through its 100 million-big customer base, a number that should only grow bigger on the back of its new effort.