PwC launches AI assistant tool for tax services
The tax AI assistant tool cross references and has been trained on case law, legislation and other underlying sources, together with PwC UK’s own IP
PwC UK, alongside alliance partners Harvey and OpenAI, announced the launch of its UK tax trained AI model on February 13.
The AI tax assistant is a UK tax-trained model that leverages generative AI to produce content. It has been trained on case law, legislation, and PwC’s intellectual property, ensuring the highest level of accuracy and relevance.
The collaboration between PwC, Harvey, and OpenAI has resulted in the creation of a sophisticated and powerful tool that combines human expertise with AI capabilities. By harnessing the power of generative AI, PwC aims to provide clients with enhanced insights, transparency, and quality in their tax services.
A game changer?
Available to all 2,300 PwC UK Tax professionals, the tool acts as an AI assistant, generating tax content as part of the delivery of services to clients. The tool is built on a foundation of PwC UK’s proprietary tax expertise, with the underlying technology developed by Harvey and OpenAI.
The AI assistant tool cross-references data and is regularly refreshed to reflect changes and updates to tax rules. As a result, the model generates significantly higher quality and accuracy in the tax domain compared to publicly available Large Language Models (LLMs). It also provides references to underlying data, allowing for transparent and accurate validation by tax professionals.
“Working with Harvey and OpenAI, we will be able to offer the most sophisticated tax AI-enabled services and model in the market and further differentiate what we do, driving growth for our business, our clients, and our people,” says Laura Hinton, PwC’s Tax, Legal, and Workforce Leader in the UK.
The integration of AI into tax services allows PwC to deliver deeper, more robust, and transparent insights to their clients. The AI tax assistant can generate relevant and up-to-date tax content, ensuring that clients have access to the most accurate and comprehensive information.
By leveraging AI technology, PwC is also able to stay ahead of changing tax rules and regulations, providing clients with a competitive edge in their tax planning and compliance strategies.
PwC’s commitment to responsible AI
While PwC embraces the power of AI, their approach remains human-led. The launch of the new tool is part of PwC’s wider strategy to lead the professional services market in the adoption of AI and technology, ensuring clients and our people benefit from the changing environment in which they operate.
In line with its responsible AI framework, PwC is also exploring with clients how their tax functions could harness the power of the tool directly to unlock the full impact of AI. By partnering with leading AI companies, PwC ensures that their AI tax assistant remains at the forefront of technological advancements, providing clients with the best possible service and insights.
