- LexisNexis launches Tolley+ AI for tax professionals, building on its successful Lexis+ AI platform.
- Features include conversational search, insightful summarization, and intelligent document drafting.
- Emphasizes data security with state-of-the-art encryption and verifiable sourcing of information.
- Developed with input from over 2,000 global technologists, data scientists, and experts.
- Initial rollout through the Tolley+ AI Insider Program offers early access and educational support.
Main AI News:
LexisNexis, renowned for its innovative AI solutions, is extending its expertise into the realm of tax professionals with the introduction of Tolley+ AI. Following the successful launch of their Lexis+ AI platform, which integrates advanced generative AI capabilities, LexisNexis aims to empower lawyers and accountants with a tailored AI system designed specifically for tax-related tasks.
The forthcoming Tolley+ AI system will harness LexisNexis’ extensive repository of tax information, offering features such as conversational search, insightful summarization, and intelligent drafting functionalities. Emphasizing data security, the platform will utilize state-of-the-art encryption technologies to ensure user privacy and integrity of information. Each result generated by Tolley+ AI will be verifiable and citable, providing users with instant validation of their findings.
Building upon the technological backbone of Lexis+ AI, the development of Tolley+ AI involves collaboration across a global network of over 2,000 technologists, data scientists, and subject matter experts. This concerted effort aims to address accuracy concerns and ensure the AI solution meets the rigorous demands of the UK tax industry.
Initially, Tolley+ AI will be accessible through the ‘Tolley+ AI Insider Program’, offering early access to selected members along with educational support. This initiative underscores LexisNexis’ commitment to enhancing productivity and competitive advantage for tax professionals.
Gerry Duffy, Managing Director at LexisNexis UK, highlighted the transformative potential of Tolley+ AI: “By integrating our advanced technological capabilities with Tolley’s comprehensive tax research and guidance, we aim to streamline workflows and empower our customers.“
Jon Scriven, Director of Tax Markets at Tolley, expressed optimism about the impact of AI on tax practice: “AI is poised to revolutionize how tax professionals operate, offering substantial value through generative AI tools.”
The introduction of Tolley+ AI marks a strategic move by LexisNexis to extend the benefits of AI beyond legal domains, anticipating broader adoption across corporate functions. As businesses increasingly integrate AI into their operations, the expectation for enhanced efficiency and uniformity across departments is set to reshape industry standards.
Conclusion:
LexisNexis’ introduction of Tolley+ AI marks a significant advancement in the integration of AI within the tax industry. By leveraging extensive tax knowledge and cutting-edge AI capabilities, LexisNexis is poised to enhance productivity and competitive advantage for tax professionals. The move also signals a broader trend towards AI adoption across professional services, setting new standards for efficiency and accuracy.
