Intuit Introduces Proprietary Large Language Model for Fintech with GenOS

Fintech giant Intuit, whose product offerings include TurboTax, Mint, Credit Karma, Mailchimp and QuickBooks, recently expanded its software services platform to include GenOS, an operating system for generative artificial intelligence (AI) technologies. be extended.

According to Intuit, the new operating system will come with a suite of tools, including a developer studio, UX libraries, runtime layer, and several pre-trained large language models (LLMs).

We are expanding our platform architecture to include a proprietary Generative AI Operating System (GenOS) with custom-trained financial LL.M.’s who specialize in solving financial challenges.

GenOS will unleash the power of GenAI and ignite innovation at scale for customers.

— Intuit (@Intuit) June 6, 2023

Many high-profile businesses have recently started adopting third-party LLM solutions such as OpenAI’s ChatGPT for their specific needs. However, Intuit took a different approach by creating proprietary tools and its own development and deployment platform.

Intuit isn’t necessarily known for its AI products, but its place as an industry leader positions it well to leverage internal data to train models similar to ChatGPT. The primary advantage in doing this is that the company can choose the data it includes, thus allowing it to fine-tune its model for fintech.

Where as ChatGPT and similar LLMs, such as Google’s Bard, are generally positioned as general chatbots – meaning they are designed to discuss virtually any topic – especially financial ones. A model trained on the data would be considered a “narrow” or targeted system.

and intuit Allegedly There is a lot of data to work with. According to an announcement published on June 6:

“The company has 400,000 customer and financial features per small business, as well as 55,000 tax and financial features per consumer, and connects to more than 24,000 financial institutions. With more than 730 million AI-powered customer interactions per year , Intuit is generating 58 billion machine learning predictions per day.

It remains to be seen how Intuit intends to implement GenOS, as the company has yet to reveal any specifics about LLM, which is currently being developed through the new platform. However, some of the primary use cases for similar models have been in consumer education and customer service.

Connected: AI related crypto returns soared by 41% after ChatGPT was launched

The launch of GenOS comes at a tumultuous time for United States taxpayers, but could represent some relief for users of its flagship TurboTax product.

The Internal Revenue Service (IRS) is currently under fire from US conservative Republicans, who have Proposed The agency’s budget will be cut by $21 billion over the next two years.

Such cuts undermine the IRS’s efforts toward modernizing citizen tax services, potentially negatively impacting an already complex tax filing system. This represents a problem that, combined with recent uncertainty surrounding the legal nature of digital assets in the wake of Securities and Exchange Commission action against cryptocurrency exchanges Binance and Coinbase, is significant for the 43 million US taxpayers who hold crypto assets. can pose challenges.