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�.

They discussed the report鈥檚 findings around time-savings, noting that 77% of tax professionals believe generative AI is applicable to their industry, with potential productivity gains of up to five hours per week.

鈥淭here鈥檚 some pretty big implications of what this means for the tax and accounting space,鈥� Wong said, noting generative AI tools could make tax season and other busy periods 鈥渨ay less painful鈥� for accountants.

The report also found that 83% of tax professionals cited a lack of skilled labor.

鈥淭he talent shortage is real,鈥� Beastrom said. 鈥淚t’s been ongoing for the last few years and it’s definitely not going away. 300,000 people have left the industry between 2019 and 2022.鈥�

She said the number of students getting bachelor’s degrees in accounting is down and cited Financial Times data on the number of people sitting for CPA exams, which hit its lowest level in 17 years.

鈥淲ith less people going into the profession and more people retiring and leaving the profession, there’s a tremendous opportunity to leverage GenAI to support tax professionals to help solve that talent gap,鈥� Beastrom said. 鈥淎I has the power to support increased efficiency, higher quality work, and greater value for our clients and our customers.鈥�

She added: 鈥淚f you’re a junior professional, AI is that springboard that can help accelerate your training and on the job learning, which is going to allow you to transition into higher value roles more rapidly. The work is more challenging and could significantly bolster your future progression within the firm.鈥�

Wong noted AI may compress the time needed for accountants to advance in their careers, making the profession more appealing.

鈥淚 think there’s this exciting opportunity where the early stages in a career will get compressed,鈥� Wong said. 鈥淚nstead of having to wait five, six, seven years to become a senior, I foresee that with support from AI and the efficiencies you get, just the sheer amount of more work that you can do, you’ll get up to speed a lot faster. It might only take two, three or four years instead to be able to become a senior.鈥�

Wong and Beastrom also discussed how the potential time savings from AI adoption could allow tax professionals to shift from transactional tasks to higher-value advisory roles, improving work-life balance and business growth. Overall, they expect the integration of AI will attract a broader range of talent with diverse skill sets to the accounting and tax industry, transforming it into a more dynamic and exciting field.

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

Now generally available in the United States, Checkpoint Edge with CoCounsel helps tax firms leverage the transformative capabilities of GenAI by using large language models (LLMs) to provide an intuitive interface for tax professionals to pose questions to in everyday language.

Two thirds of customers that took part in the beta program expected Checkpoint Edge with CoCounsel to become their primary method for starting federal tax research upon launch.

鈥淐heckpoint Edge with CoCounsel is an innovative tool that allows the use of a question to get a specific response, plus it provides citations without having to search multiple responses to find an answer to a query,鈥� said Gary Brown, owner and principal at Gary Brown CPA, who was among the customers that took part in the beta program. 鈥淭his saves significant time by providing a focused response versus a list of multiple responses that need to be sorted through to find the desired result, providing significant time savings for research.鈥�

鈥淭rying to read an entire document for up to 30 minutes and trying to really understand those very minute differences and paragraphs and sub-paragraphs, Checkpoint Edge with CoCounsel will now give us the opportunity to receive this answer in a more simplified and relatable format where we can read it and understand it, see the citations as we need, and provide that answer to a client or internally to our own staff,鈥� said Brent Forbush, managing partner, Forbush & Associates.

Checkpoint Edge with CoCounsel is the latest milestone in the 成人VR视频 expanded vision for CoCounsel 鈥� the professional-grade GenAI assistant 鈥� to enable professionals to seamlessly complete complicated work involving multiple products through a single generative AI assistant. The launch follows last week鈥檚 rollouts of Claims Explorer, a new generative AI skill in Westlaw Precision with CoCounsel, and CoCounsel Drafting, an end-to-end drafting solution that streamlines and improves the drafting process for legal professionals within Microsoft Word.

For more on Checkpoint Edge with CoCounsel, visit , check out , or read the press release.