Legal content provider LexisNexis launches Lexis+ AI for GenAI-driven tax consulting.

LexisNexis introduces Lexis+ AI in the USA, a tool designed to help tax professionals by simplifying tasks like summarizing texts and drafting responses. This GenAI tool responds to tax-related questions with detailed legal knowledge and citations, improving efficiency from question to client response.

Set to launch in Austria in 2024 with Lexis 360, Lexis+ AI will provide precise, current tax law information. The tool uses LexisNexis’s legal and tax content database to ensure its answers reflect the latest tax regulations. This approach aims to give tax professionals accurate tools that rely on up-to-date legal information.

LexisNexis focuses on creating safe, reliable AI tools. The company follows strict guidelines that match the EU’s AI Act, focusing on clarity, human oversight, privacy, and reducing bias. These standards are meant to keep tax professionals informed and secure, supporting their need for timely and strategic advice.

Generative AI tools like Lexis+ AI will become a regular part of tax consulting, making initial tasks faster and giving professionals more time for strategic thinking. Lexis 360 already offers features that alert users to tax law changes, helping professionals stay current. LexisNexis aims to ensure that its GenAI tools provide existing knowledge and offer new insights, keeping tax professionals updated.