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The Smart Tax Assistant leverages artificial intelligence to provide tailored and real-time accounting and tax assistance to sole traders.
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TaxLeopard partners with InnovateGPT to build smart tax assistant
17 April 2024
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9 minute read
Accounting and tax app TaxLeopard has announced a partnership with generative AI incubator, InnovateGPT, to build a Smart Tax Assistant for sole traders.
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The partnership adds to TaxLeopard’s existing AI capabilities, which includes a strategic partnership with RMIT University.
TaxLeopard has been working closely with RMIT to put the building blocks in place for the development of the Smart Tax Assistant, and InnovateGPT has now been onboarded to help accelerate its inception.
The executive team of InnovateGPT comprises experts who previously held senior roles at Microsoft and Google.
The company, which has been providing in-depth AI expertise, with a unique focus on generative AI since 2017, has helped establish over 15 joint-venture Australian generative AI companies across sectors including education, energy, sustainability, construction, health and life sciences, and financial services.
TaxLeopard’s Smart Tax Assistant, which the three organisations are collaborating to develop, aims to leverage advanced AI technology to provide tailored, on-demand, real-time accounting and tax assistance to sole traders.
This software aims to provide users with advice precisely when needed and based on their unique financial situations, eliminating the delay and generic advice associated with traditional tax consultations.
TaxLeopard chief executive and co-founder Selda Kaplan said the collaboration with InnovateGPT is a step towards “redefining the landscape of tax management through AI-driven innovation”.
“By harnessing the disruptive power of generative AI, we're setting a new standard for service excellence and technological advancement in the industry,” said Kaplan.
George Stavrakakis, chief executive at InnovateGPT Group, said the AI accounting market has huge potential.
“It’s predicted to reach USD 15.69 billion globally in 2027, and by developing a sophisticated smart accounting assistant, we’ll be helping TaxLeopard solve a major pain point for SMBs and sole traders, who spend as many as 15 hours a week on financial admin,” said Stavrakakis.
“The depth of personalisation and the real-time assistance capabilities that TaxLeopard aims to offer with its Smart Tax Assistant will solve plenty of headaches for the smallest of businesses and may set a new benchmark in the industry.”
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