Transforming Tax Services: PwC UK Unveils AI Tax Assistant Tool in Collaboration with Harvey and OpenAI

PricewaterhouseCoopers (PwC) UK has made significant strides in the realm of client service delivery with the introduction of its latest innovation: an artificial intelligence tax assistant tool. Unveiled on February 13, this groundbreaking tool is the result of a collaborative effort between PwC and its tech partners, Harvey and OpenAI. Designed to serve as an AI assistant, it offers tailored tax content generation capabilities to all 2,300 tax professionals within PwC UK, marking a significant enhancement in their service offerings.

What distinguishes this tool is its comprehensive training, encompassing a wide array of data sources, including case law, legislation, and PwC UK's proprietary intellectual property. This extensive training regimen ensures that the tool delivers precise and up-to-date insights, surpassing conventional large language models available in the market. Laura Hinton, PwC UK's tax leader, emphasized the transformative potential of this initiative, highlighting its capacity to drive growth for the firm, its clients, and its workforce alike.

The development of this AI tool is a testament to PwC's strategic partnership with OpenAI and Harvey within its global tax and legal services division. This alliance, announced in October, aims to leverage AI technology to develop foundational models for various professional services, with a specific focus on tax, legal, and human resources. Winston Weinberg, co-founder and president of Harvey, echoed Hinton's sentiments, underlining the unique capabilities of the UK tax-trained AI model to integrate deep tax expertise with advanced natural language processing.

This move by PwC reflects a broader trend within the professional services industry towards the adoption of AI-driven solutions. Deloitte's recent introduction of its generative AI chatbot PairD to its workforce, including tax professionals, serves as another notable example. These initiatives underscore firms' concerted efforts to harness AI technology to streamline tasks, enhance operational efficiency, and deliver more sophisticated services to clients.

By fLEXI tEAM