Intuit's GenAI revolution: Simplifying finance, Transforming lives

From balancing checkbooks to AI-driven prosperity, Intuit pioneers a new era in financial empowerment

Artificial intelligence (AI) is going to change the world for the better, touching every single industry and empowering humans with new resources that open opportunities to prosper. Intuit, a global financial technology platform with 100 million customers worldwide, truly believes in AI being a game-changer and declared its strategy to be an AI-driven expert platform over five years ago.

Through their products, which include Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, they deliver solutions across the full range of their customers’ financial journey.

Intuit’s journey began 40 years ago when its founder, Scott Cook, sat at his kitchen table watching his wife struggle to balance the family chequebook – and he thought to himself there must be a better way. Scott created Quicken, a new way to use technology to manage personal finances, and Intuit was born.

Since then, the company believes it has always put customers at the centre of everything. Intuit follows a simple mantra: ‘Fall in love with the customer’s problems and never the solutions’. Over time, they have transformed from DOS to the web, to mobile, to the cloud, to AI. At the heart of all their work is a focus on delivering three fundamental benefits to customers – helping put more money in their pockets; eliminating work and saving people time so they can focus on what matters most and ensuring that they have complete confidence in every financial decision they make.

Intuit has had a very exciting and incredible growth story. As one of the largest data platforms, their platform delivers 810 million AI-driven customer interactions per year, generates 65 billion machine learning predictions per day, processes more than 25 million conversations with natural language processing per year, and runs 2 million models in production per day.

“For nearly a decade, Intuit has been innovating with AI, and its robust data and AI capabilities are foundational to the company’s success as an industry leader in the financial technology sector. When the craze for GenAI began to take hold, Intuit was as well prepared as any to take advantage of that. We are transforming from a tax and accounting platform where consumers and small businesses have to do the work, to a global financial technology platform where we do the hard work for them. This is possible because of our early investments in data and AI and our accelerated investment in generative AI (GenAI),” says Alex Balazs, CTO of Intuit.

As GenAI can play a pivotal role in customer experiences, Intuit recently announced Intuit Assist, a new GenAI-enabled assistant that will provide “personalised, intelligent” recommendations to help consumers and small business customers make smart financial decisions.

Intuit Assist was developed using their proprietary GenAI operating system (GenOS). Intuit Assist is embedded across Intuit’s platform and products aimed at putting the power of next-generation AI in the hands of customers. It will intuitively show, guide, help, and do the hard work for users and connect customers to experts on their Live Platform to provide human assistance when needed, Balazs said.

Intuit India plays a pivotal role in delivering Intuit's AI-driven expert platform strategy. With 1,600+ employees, Intuit India is the second-largest engineering hub for the company. “There is so much innovation happening for customers around the world right from here, including delivering end-to-end product development, technology and engineering innovation,” says Balazs.

Intuit India is also one of the company’s fastest-growing global sites with over 50 per cent of its current workforce being hired in the past two years alone. Home to nearly 22 per cent of Intuit’s engineering talent, it is a centre for innovation and engineering excellence for Intuit.