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Intuit to Add Agentic AI Capabilities Across Platforms and Products

DATE POSTED:September 25, 2024

Intuit will introduce agentic artificial intelligence (AI) capabilities in December and continue rolling them out throughout 2025.

The company will add these capabilities across its platforms and products, including Intuit TurboTax, Credit Karma, QuickBooks and Mailchimp, Intuit said in a Wednesday (Sept. 25) press release.

“Agentic AI represents a transformative leap in technology, with the potential to unlock unprecedented levels of efficiency for our customers, human experts and developers,” Alex Balazs, chief technology officer at Intuit, said in the release.

The new agentic AI systems will work on behalf of consumers and businesses while providing personalized insights and recommendations and offering access to human tax and bookkeeping experts whenever needed, according to the release.

The systems will complete tasks autonomously via specialized AI agents, with human direction and oversights, thereby eliminating the need for consumers and businesses to perform routine tasks, the release said.

Examples of the agentic AI use cases include automating accounts receivable (AR) and accounts payable (AP) tasks, streamlining the onboarding of small business customers who are new to Intuit’s products, and providing personalized answers and insights about Intuit’s products or the small business customer’s operations, per the release.

“Given Intuit’s decade-long investments in data and AI — and our GenOS GenRuntime agent framework — we’re well on our way to delivering on the promise of seamless, connected, done-for-you customer experiences,” Balazs said in the release.

Agentic AI is positioned to take the capabilities of an automated software program to the next level — a request-action architecture — by conducting business from start to finish without the need for human intervention, PYMNTS reported in February.

When applied to payments, for example, agentic AI software can automate routine and repetitive tasks like invoicing processing, data entry and transactional reconciliation, while reducing the likelihood of errors associated with manual processes.

Intuit has already rolled out some other AI-driven offerings, including a generative AI-powered financial assistant that delivers personalized financial insights. This AI assistant is available to millions of consumers and about 1 million small and mid-market businesses.

“This is enabling us to disrupt the categories in which we operate,” Intuit CEO Sasan Goodarzi said in August during the company’s quarterly earnings call.

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The post Intuit to Add Agentic AI Capabilities Across Platforms and Products appeared first on PYMNTS.com.