Intuit Unleashes AI-Powered Digital Assistant for Small Businesses and Consumers

NNicholas September 6, 2023 3:04 PM

U.S. financial and accounting software behemoth, Intuit, introduces its first customer-centric generative AI-operated digital assistant, Intuit Assist, to aid small businesses and consumers. The digital assistant is integrated across Intuit’s platform and products, offering personalized recommendations using contextual datasets.

Introducing Intuit Assist, an AI-powered digital assistant

Intuit's new digital assistant, dubbed Intuit Assist, is designed to bring an AI-powered solution to small businesses and consumers. The assistant is seamlessly integrated across Intuit’s suite of products, including TurboTax, Credit Karma, QuickBooks, and Mailchimp. Its main function is to offer personalized recommendations using contextual datasets to the company’s broad customer base. The assistant also offers human support through Intuit’s live platform whenever necessary.

Intuit uses proprietary GenOS for AI integration

Intuit Assist capitalizes on the software giant's proprietary operating system, GenOS. This generative AI-centric operating system was launched in June, with the primary aim of enabling Intuit developers to assimilate AI across the company's product range. GenOS is the backbone behind Intuit's step into the AI-powered digital assistant realm, providing a robust framework for AI incorporation.

AI assistant to provide personalized recommendations across Intuit's products

Intuit Assist will be embedded into Intuit's various products, including TurboTax, Credit Karma, QuickBooks, and Mailchimp, to deliver tailored solutions and insights. From helping consumers navigate the tax code and providing financial options to small businesses to assisting with marketing campaigns, the AI-powered assistant is poised to revolutionize the user experience across the board. The assistant will also facilitate human experts by providing personalized answers based on aggregated insights.

At the heart of Intuit Assist lies GenOS, an operating system designed for AI integration. This system comprises four main blocks: GenStudio for interaction with large language models, GenRuntime for automatic orchestration, GenUX for consumer-facing applications, and user flows based on large language models. GenOS is also equipped with in-house models and third-party ones, offering flexibility in terms of language models.

Intuit's pivot towards AI has been a game-changer for the company. Its early shift has resulted in impressive metrics, including 810 million AI-driven customer interactions per year, over 25 million conversations processed using natural language processing annually, and around 900 AI, machine learning, and data science patents. The company's commitment to AI underscores its dedication to enhancing customer experiences and driving its business forward.

Challenges in deploying generative AI

As with any technological advance, deploying generative AI has its share of challenges. Privacy matters are a significant concern, especially since Intuit works with customers' financial and transactional data. To counter this, Intuit has established an AI governance team and adheres to strict AI principles to maintain transparency and ensure data security. Another issue is 'hallucination', where AI systems can produce inaccurate or false information. However, Intuit's strategy of using large and relevant datasets helps mitigate this risk, ensuring the delivery of accurate and appropriate information to its customers.

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