Intuit introduces new GenAI innovations, enhancing financial management for consumers and businesses across its platforms.
Intuit showcased innovations powered by GenAI at the 2024 Investor Day. The aim is to simplify financial management for consumers and business owners. These features integrate their popular services, TurboTax and Credit Karma, into a seamless user experience. Consumers can access personalized financial summaries and insights, making informed money decisions year-round. The challenges of managing financial data across multiple platforms are addressed with this unified solution.
Credit Karma users will benefit significantly from AI insights. For instance, users will get real-time updates on their spending habits, potential tax refunds, and retirement savings strategies. The integration of a GenAI assistant, Intuit Assist, helps users upload tax forms and provides essential summaries and guidance. By pre-filling TurboTax forms based on data collected throughout the year, users will save time and increase confidence in tax outcomes.
Businesses face challenges from using multiple apps that do not connect well. Intuit’s solution empowers QuickBooks users with AI-driven insights to better manage cash flow, overdue invoices, and revenue opportunities. With AI automations, business owners can create invoices, proposals, and marketing emails with a click. This not only saves time but encourages efficient cash collection, reducing the manual workload.
The new TurboTax Live option allows users to connect with local tax experts for expedited service. Originally time-consuming and costly, this service offers virtual assistance, completing taxes in as little as 30 minutes. These AI-driven features enhance productivity and streamline processes for both consumers and businesses. By consolidating financial data and automating tasks, Intuit empowers users to make faster, more informed decisions. The Intuit Assist GenAI capabilities improve operational efficiency and help customers achieve stronger financial outcomes.