PwC UK has partnered with OpenAI and Harvey to develop a new tax software AI assistant. The AI tool, trained specifically for UK tax purposes, will be available to 2,300 PwC UK tax professionals and aims to enhance the delivery of services to clients. By utilizing generative AI, the tax AI assistant will generate content by drawing on case law, legislation, and PwC UK’s intellectual property. This combination of tax expertise and advanced technology is expected to provide clients with improved insights, transparency, and quality.
The decision to adopt AI in tax services aligns with PwC’s broader strategy to spearhead AI adoption in the professional services market. The company believes that AI plays a crucial role in benefiting its clients and driving growth. The tax AI assistant will undergo regular updates to ensure its accuracy and compliance with changes to tax rules, setting it apart from publicly available large language models used in other chatbots.
Laura Hinton, PwC’s Tax, Legal and Workforce Leader in the UK, highlighted the transformative potential of generative AI. She emphasized that while AI will complement human expertise, PwC’s approach will always be human-led and tech-powered. The company aims to deliver deeper, more robust, and transparent insights to clients through the integration of AI technology.
Winston Winberg, co-founder of Harvey, expressed excitement about the partnership with PwC. He believes that this collaboration showcases the ability of AI to augment human expertise and drive transformation in the delivery of professional services.
The partnership between PwC, OpenAI, and Harvey comes after both Harvey and OpenAI secured significant funding. Harvey raised $80 million in Series B funding in December 2023, with part of the funding coming from the OpenAI Startup Fund. OpenAI had previously provided $21 million in Series A funding to Harvey in August 2023.
Brad Lightcap, COO of OpenAI, expressed enthusiasm about continuing the partnership and helping organizations thrive in an AI-first world. The collaboration between PwC, OpenAI, and Harvey demonstrates the commitment to leveraging AI technology to enhance services across all industries.
In conclusion, PwC UK’s collaboration with OpenAI and Harvey to develop a tax software AI assistant illustrates the company’s commitment to AI adoption in professional services. The generative AI tool will generate content using case law, legislation, and PwC UK’s intellectual property to provide clients with enhanced insights, transparency, and quality. The integration of AI technology is expected to drive growth for PwC, its clients, and its professionals, while maintaining a human-led approach to service delivery.
