成人VR视频 President and CEO Steve Hasker shared a state of the industry outlook, noting generative AI is as disruptive and transformative as previous technology shifts yet is happening even faster. He emphasized what differentiates 成人VR视频, including investments the company is making in generative AI to enable professionals to accelerate and streamline entire workflows and deliver more value for clients. 听听

Hasker said 成人VR视频 has invested more than $200M in AI in the last year. He discussed the company鈥檚 vision to provide each professional it serves with an AI assistant; the launch of CoCounsel 2.0, which generates answers three times faster than the previous version; and new work with Microsoft on autonomous agents to increase revenue, reduce costs, and scale impact for customers.鈥�听

Tax, Audit & Accounting听听

鈥淎I is not just changing the landscape of accounting, it’s reshaping it.鈥� That was the message from Elizabeth Beastrom, president of Tax & Accounting at 成人VR视频. 听

While the profession sees AI as a game-changer to help them work differently, tax and accounting professionals also continue to wrestle with the perennial challenge of a talent shortage. This, combined with escalating complexity and more tax regulations, as well as changing client expectations, leaves tax professionals in need of a critical solution.听

成人VR视频 sees the potential of AI to help alleviate these challenges by augmenting human capabilities. Automating mundane, time-consuming tasks will enhance efficiency for tax professionals, helping them reclaim time to channel into higher value tasks. 成人VR视频 is working to bring the power of generative AI, machine learning and automation into its solutions in the following ways:

1. Saving time in tax preparation:

Coming in beta during the upcoming busy season, 成人VR视频 will launch an AI-assisted tax preparation experience to increase firm efficiency. The solution combines the power of CoCounsel, 成人VR视频 professional-grade generative AI assistant, with workflow automation and software integrations. It supports the delegation of data gathering to simplify mundane tasks and automate tax preparation. 成人VR视频 research shows that customers using this solution will save at least two hours per 1040 tax return on average.听

2. Supporting firms鈥� growth with advisory: 听

As client expectations continue to evolve, they鈥檙e increasingly looking to their accountants as trusted advisors. Firms of all sizes are focusing on growing their advisory practices to help bring their clients additional value, as well as supporting their growth. In 2025, the 成人VR视频 Advisory Solution will combine the power of CoCounsel and Checkpoint content to identify advisory opportunities. Advisory services are integrated directly into a firm鈥檚 practice, with technology empowering junior staff to take on higher-value advisory work and seasoned professionals to move beyond technical expertise to value-added synthesis. 听

鈥淚t helps firms build their advisory practice with confidence to deliver unprecedented value to meet clients鈥� evolving needs,鈥� said Nancy Hawkins, vice president of Product Management, Research.听

3. Transforming audit efficiency:听

Halving sample sizes, boosting efficiency and sharpening the focus on high-risk areas are all at the heart of 成人VR视频 Audit Intelligence Analyze solution, which launched in October. Further functionality will be coming in 2025 as it expands the Audit Intelligence suite capabilities. 鈥楾est鈥� will support with automating substantive testing with dynamic transaction tracing, while 鈥楶lan鈥� will harness full data populations with cutting-edge analytics for superior risk assessment. Both will launch with beta programs next year, along with the addition of CoCounsel to the Audit Intelligence suite.听

All three solutions 鈥� Review Ready, 成人VR视频 Advisory Solution and the Audit Intelligence suite 鈥� will be further enhanced with 惭补迟别谤颈补鈥檚 generative and agentic AI capabilities.听

Corporates听

Laura Clayton McDonnell, president of the Corporates segment, shared how enterprise technology, including AI and generative AI, is revolutionizing the profession with innovative and emerging solutions. She emphasized that companies are taking a streamlined and proactive approach to addressing risk and compliance across the enterprise, while driving towards their business goals, will maintain their competitive advantage. Clayton McDonnell also shared how organizations are using solutions including ONESOURCE Pagero, CoCounsel Core, Legal Tracker, Checkpoint Edge with CoCounsel and CLEAR to solve challenges and realize value for their business.听

In addition, Ray Grove, head of Corporate Tax and Trade, 成人VR视频, highlighted the company鈥檚 efforts to build a seamless, integrated compliance network, and Kevin Appold, vice president of US Public Records, 成人VR视频, shared how the company鈥檚 risk and fraud solutions play a critical role in the convergence of compliance and commerce. Also, Valerie McConnell, senior director of CoCounsel Customer Success, discussed how CoCounsel is transforming the general counsel鈥檚 office.听

Legal听

A highlight from the Legal Professionals segment included an in-depth look at the 成人VR视频 2025 AI product roadmap from David Wong, chief product officer; Mike Dahn, head of Westlaw Product; and Valerie McConnell, senior director of CoCounsel Customer Success. They outlined upcoming generative AI features and innovations to support legal professionals, including deeper integration of CoCounsel 2.0 in Westlaw and Practical Law plus generative AI research features including Claims Explorer, Mischaracterization Identification in Quick Check and AI Jurisdictional Surveys.听

Legal SYNERGY attendees also participated in interactive sessions and CLE courses on advanced prompting techniques, the science behind large language models, and optimizing generative AI for tasks like drafting and legal research. Sessions offered attendees a comprehensive view of the future of AI in law.鈥�听

SYNERGY 2024 also included several customer panels and executive briefing sessions. Watch the Innovation Blog for highlights from these sessions and for 2025 product and innovation highlights.听

Foundation of enterprise-wide innovation听

Maria Apazoglou, head of AI, BI & Data Platforms, Technology, recalled early efforts to create a GenAI platform within 成人VR视频, upon which the company鈥檚 GenAI-powered solutions 鈥� including 鈥� would be built. 听

鈥淥ur GenAI platform is designed to democratize access to AI, making it easier for non-technical users to utilize AI effectively,” Apazoglou explained. “In the creation of the platform, we focused on two critical aspects: developing a multi-cloud platform to support various AI models and LLMs, and creating an accessible interface to allow users to self-serve, enabling early experimentation and viability assessment.鈥�听

This approach facilitated rigorous testing by developers and evaluation by subject matter experts (SMEs), ensuring optimal model performance. Today, the platform has 10,000 internal users monthly 鈥� equal to 40% of the population of 成人VR视频 25,000 colleagues.听

Bridging content and customer needs听听

When it comes to responsible AI, human-in-the-loop is critical to 成人VR视频 strategy, with considerations at every stage of design, development and deployment.听听

The company has a team of hundreds of tax and accounting experts 鈥� many of whom are attorneys and CPAs themselves. These SMEs are critical to enhancing the quality of the responses produced by the GenAI models and to creating a system that meets customers鈥� needs. Evaluating results and grading answers is an ongoing and constant process. 听

Catherine Murray, director of Editorial, US Tax & Accounting Commentary, coordinated the SME grading efforts, working with 成人VR视频 developers to interpret the results. She channeled her expertise in tax law, along with her understanding of customers鈥� needs, into ensuring that the models provided valuable and accessible responses.听听

鈥淲orking closely with 成人VR视频 Labs team to conduct experiments and optimize the solution for large language models was an exciting part of the work,鈥� she said. 鈥淭hinking about how customers are going to use the solution to surface our high-quality content was fascinating to be involved in, particularly as GenAI tech is evolving all the time.鈥�听

Melissa Oaks, director of Editorial, Current Awareness, noted the excitement from customers during the alpha and beta testing phases. 鈥淐ustomers were eager to keep the beta version and asked, 鈥榃hen can I buy it?鈥� It鈥檚 thrilling to work on something that has such a significant impact on their daily lives,鈥� Oaks remarked. 听

Oaks noted that other solutions on the market rely on “just the tax code or the primary sources, and that’s really not enough to do tax research.” She said: 鈥淲hat I love about this solution is we鈥檙e providing professional insights and step-by-step guidance on how to actually go do what we鈥檙e saying is the recommended course of action, not just the primary sources. This comprehensive approach sets us apart in the market.鈥�听

Transformative time-savings听

Nancy Hawkins, vice president of Product Management, Research, underscored the product鈥檚 potential to alleviate industry pressures: 鈥淲ith current tax staffing shortages, our solution offers crucial time-savings and work augmentation, especially for non-attorney professionals conducting tax research. It鈥檚 helping customers gain more capacity, whether for work-life balance or business growth.”听

鈥淭he exacting nature of the tax profession means mistakes can have significant consequences, and our customers are hungry for solutions that can bring them time-savings and augment their work,鈥� Hawkins said. 听

Delivering accuracy, efficiency, and simplicity听

Erica Butcher, vice president of Sales & Retention – Strategic Firms, noted the industry’s cautious optimism towards GenAI.听 She said tax professionals are 鈥渂oth cautious and hopeful鈥� about GenAI, and they are looking to the tech to deliver accuracy, efficiency, and simplicity.听

鈥淥verall, we are mainly hearing excitement from customers about the potential for GenAI to support top priorities of improving efficiency and addressing the current talent shortage we鈥檙e seeing across tax and accounting,鈥� Butcher said. “We鈥檝e really listened to our customers, and we built this solution with our customers鈥� feedback and needs in mind to ensure Checkpoint Edge with CoCounsel can deliver meaningful, measurable results.鈥�听

For more on Checkpoint Edge with CoCounsel, visit鈥� or check out鈥�.

鈥淲hen I think about efficiencies in the tax industry, especially given the staffing shortages and the uptick in retirements, efficiencies are so important and a huge driver for the development of our tax tools,鈥� Hawkins said. 鈥淲e know from our research that customers are prioritizing these efficiency gains and looking to technology to really help them unlock them.鈥�

Wong cited findings from the latest 成人VR视频 Future of Professionals report that demonstrated a shift in the tax and accounting industry鈥檚 adoption of AI tools.

鈥淚n contrast to a year ago, where we had the most excitement and the most interest from the legal industry, this year in 2024, we’ve had a much clearer signal from the tax, accounting and audit industry that they are ready and eager to apply some of the AI technology to their work to seek efficiencies,鈥� Wong said.

He added that this shift can help the tax and accounting industry address a labor crunch.

鈥淭here aren鈥檛 enough CPAs or enough people who are willing to jump into the tax and accounting profession, and technology is seen as this sort of savior for this ever-growing pile of work within the industry,鈥� Wong said. 鈥淎I is one additional set of tools to help the industry get to a new frontier of automation.鈥�

Wong and Hawkins noted that AI tools must work in conjunction with the other workflow tools tax and accounting professionals already depend on.

鈥淭he exacting nature of the tax profession is extremely unforgiving when it comes to inaccuracies or mistakes,鈥� Hawkins said. 鈥淎s we put our AI-Assisted Research together, we really had that in mind 鈥� to help with making research more efficient for the new entrants into the industry.鈥�

鈥淗aving an efficient way to research is critical,鈥� Hawkins added. 鈥淭he AI-Assisted Research that we have in Checkpoint Edge really allows someone to come in and simply ask a question, like you would to a trusted colleague down the hall and get an answer back that is easily digestible.鈥�

Hawkins said she hears customers talk about how senior members of firms want to mentor junior members but don鈥檛 have the time. She said firm leaders are excited about how generative AI tools can help 鈥渦pskill more junior members of a firm quickly to have the mature and robust conversations around tax topics.鈥�

Watch the听of the TechConnect series, which brings diverse and dynamic perspectives from all corners of the technology world with thought-provoking questions and conversation.

Tax research has historically been a labor-intensive process, often requiring extensive manual effort and expertise, combined with the pressure of ensuring accuracy to enable professionals to take and defend tax positions with confidence. The introduction of Checkpoint Edge with CoCounsel gives tax professionals the ability to leverage the transformative capabilities of AI-Assisted Research. Through dialogue with a GenAI assistant, tax professionals can simply ask a question in everyday language. The solution will provide a relevant answer with links to trusted Checkpoint Edge editorial content and source materials in moments.

鈥淩esearch is essential for tax professionals and getting it right can take hours; it is hard and time-consuming,鈥� said Nancy Hawkins, vice president of Product Management, Research, 成人VR视频. 鈥淵et accountants are not lawyers trained in interpreting legislation, and the workforce is shrinking. That is why a GenAI-powered solution has the power to transform the profession. GenAI enables accountants to get it right, fast.鈥�

When it comes to how GenAI can help reduce the burden, 77% of tax professionals think GenAI can be applied to professional work, with increased efficiency and productivity being rated the top reason it should be applied to tax work according to the听2024 Generative AI in Professional Services听report by 成人VR视频.

Trusted technology the tax industry can rely on

Tax firms (83%) and corporate tax professionals (71%) rate technology companies as the primary influencers on the future of GenAI. With influence comes responsibility, and 成人VR视频 works within a rigorous set of听AI and data principles听to ensure trustworthiness in its design, development, and deployment of AI in its solutions.

To expand access to GenAI by unlocking its potential in tax research for its customers, 成人VR视频 built Checkpoint Edge with CoCounsel securely using Amazon Bedrock. Amazon Bedrock is a fully managed service that offers a choice of high-performing foundation models from leading AI companies via a single API, along with a broad set of capabilities for building GenAI applications that meet the high 成人VR视频 standards for security, privacy, and responsible AI.

The use of Amazon Bedrock enabled the 成人VR视频 engineering team to accelerate AI model deployment time from days to hours. The solution is rooted in 成人VR视频-verified databases to deliver reliable, accurate results, while keeping customer data private and secure.

Matt Wood, vice president of Artificial Intelligence Products, AWS said: 鈥淕enerative AI has the potential to revolutionize industries, significantly enhancing operational and cost efficiency. By choosing Amazon Bedrock to build and scale generative AI applications like Checkpoint Edge with CoCounsel, 成人VR视频 can access leading foundation models and customize them using their proprietary data, with the confidence that this data is secure and private by default. We look forward to continuing our work with 成人VR视频 to support generative AI-powered tools that increase productivity and boost innovation.鈥�

Key features of Checkpoint Edge with CoCounsel

Checkpoint Edge with CoCounsel empowers tax professionals with trusted answers in a simple chat interface.

• Trusted answers:听The solution enhances customers鈥� efficiency by delivering synthesized, easily digestible answers along with links to Checkpoint Edge editorial content and source materials, helping professionals spot key risks and resolve questions using powerful summaries from thousands of documents in a matter of seconds.

Since AI-Assisted Research is grounded in 成人VR视频 curated, vetted, and up-to-date Checkpoint Edge content, customers can be assured that they are getting trusted guidance and expert analysis.

• Simple chat interface:听The solution leverages large language models (LLMs) to provide a conversational interface to deliver straightforward answers to customers鈥� questions, as if they were speaking directly to a trusted subject matter expert or advisor. With an easy-to-use, intuitive interface, AI-Assisted Research can be successfully used by tax professionals at all skill levels.

In addition, by synthesizing the most accurate answers from pertinent sources, the solution empowers junior tax professionals to conduct research faster and with confidence, without an over-reliance on the expertise of senior colleagues.

Available for purchase now as part of an early adopter program, Checkpoint Edge with CoCounsel is expected to debut initially in the United States, starting from summer 2024.