Hey everyone - happy Friday!
I’m excited to release Reconcile’s TaxAI platform for early product testers. We spent the last few months experimenting with GPT-3 and 4 and learned how to enable a secure, trustworthy, and automated next-generation tax experience.
Primarily, we discovered that OpenAI’s GPT model is not the gold standard for tax AI as the training data only goes up to September 2021. As the tax code changes frequently, even GPT4 will provide outdated answers and potentially inaccurate guidance.
Our initial release will focus on a hybrid AI-human-based solution that allows users to receive AI-generated guidance, have their strategies reviewed and validated by a trained tax professional, and then automatically executed on their behalf.
We’re aiming to solve the following pain points for users in our v1:
Getting real-time visibility into local, state, and federal tax liabilities
Knowing what tax credits and deductions to take advantage of
Seeing open-ended strategies that require a nuanced discussion with our AI or human assistant
Receiving on-demand tax assistance for pressing questions and concerns
Executing tax optimization strategies and maintaining records for year-end tax filing and audit purposes