H&R Block (NYSE:HRB) and OpenAI today announced a joint effort to develop a generative artificial intelligence (GenAI) solution enabling H&R Block's vast network of more than 60,000 tax professionals to deliver tailored insights, faster, to the millions of clients served each year virtually or at one of its 9,000 locations nationwide. The collaboration will combine OpenAI's advanced models with the deep expertise of H&R Block's The Tax Institute (TTI).
Comprised of tax attorneys, CPAs and enrolled agents, The Tax Institute continuously monitors and analyzes federal, state and local tax code changes to equip H&R Block tax professionals, DIY products and its AI Tax Assist solution to provide information and guidance on complicated tax situations for its more than 20 million clients. The Tax Institute provides extensive self-help resources for tax professionals to reference when serving clients, and a human-driven research service when client situations are more complicated. Leveraging GenAI improves TTI's ability to support tax professionals in real time by providing accurate, personalized answers backed by TTI's vetted content.