Intuit, the company behind TurboTax, is introducing a new AI tool called Intuit Assist to simplify the tax filing process. The tool is aimed at small entrepreneurs and business owners, but will be available to anyone. It is designed to give users the same advantages as large corporations when it comes to taxes. The limited version of Intuit Assist will be available in the TurboTax app starting today, with plans to expand its availability to other Intuit products in the future. Although the full version will be released in January 2024, the tool can still be useful for the extended tax deadline for 2023.
Intuit Assist currently helps with tasks such as generating personalized checklists for tax season based on user input. In the near future, it will be able to connect to Credit Karma and Quickbooks to provide users with a better understanding of their financial situation and make smarter decisions during tax time. The AI tool aims to reduce the time spent on filing taxes, increase accuracy, and maximize tax returns. Customers will be able to receive fast answers to complex questions, and the AI can connect them to a human expert if needed.
Intuit also announced that Intuit Assist will soon provide marketing assistance on its Mailchimp platform. This includes creating campaigns based on a company’s branding, targeting specific audiences, and measuring the effectiveness of email campaigns. However, some people may have concerns about connecting an AI assistant to their sensitive financial information. Intuit addresses this by providing a “Responsible AI” page that explains how artificial intelligence is used in their software. Whether this is enough to make customers comfortable remains to be seen.