I’m thrilled to sit down with Priya Jaiswal, a distinguished expert in Banking, Business, and Finance, whose deep knowledge in market analysis and portfolio management has made her a trusted voice in the industry. Today, we’re diving into the groundbreaking Bloomberg Tax AI Assistant, recently honored with the 2025 CPA Practice Advisor Technology Innovation Award. In this conversation, Priya shares insights on how this tool is revolutionizing tax research, the inspiration behind its development, and its impact on efficiency and accuracy for tax professionals. We’ll also explore what this prestigious recognition means and what the future holds for this innovative technology.
Can you start by explaining what the Bloomberg Tax AI Assistant is and how it supports tax professionals in their daily work?
Absolutely. The Bloomberg Tax AI Assistant is a cutting-edge tool designed to streamline the way tax professionals handle research. It uses generative AI to let users ask complex tax questions in everyday language and get detailed, expert-backed answers quickly. This means less time digging through manuals or databases and more time focusing on strategic tasks like client advising. Compared to traditional methods, it’s a game-changer because it cuts down on manual effort and delivers context-rich responses tailored to the user’s needs.
What sparked the idea to create the Bloomberg Tax AI Assistant?
The main driver was recognizing how much time tax professionals spent on repetitive research tasks. Many were bogged down by the sheer volume of data and the complexity of finding precise answers. Our goal was to address these pain points by building a tool that could simplify the process. We chose generative AI because it excels at understanding natural language and can pull together comprehensive insights from vast amounts of data, making it the perfect fit for transforming tax research.
How does this tool specifically boost efficiency for its users?
One clear way it saves time is by providing instant, well-rounded answers to intricate questions that might otherwise take hours to research. For instance, a professional can ask about a specific tax regulation and get a thorough explanation with relevant references in minutes. This frees them up to focus on higher-value work like crafting strategies or building stronger client relationships. We’ve heard from users who say they’ve shaved hours off their weekly workload, which is incredibly rewarding to hear.
How does the Bloomberg Tax AI Assistant maintain accuracy and reliability in its responses?
Accuracy is paramount, and we ensure it by grounding the tool in proprietary content crafted by our team of over 250 seasoned tax practitioners. Their expertise forms the backbone of every response, so users aren’t just getting AI-generated guesses but answers informed by real-world experience. We also have rigorous validation processes in place to cross-check the information, ensuring that professionals can trust the guidance they receive every time.
Winning the 2025 CPA Practice Advisor Technology Innovation Award is a significant milestone. What does this honor mean to your team?
It’s a huge validation of our efforts and our mission to empower tax and accounting professionals with innovative solutions. This recognition shows that we’re on the right track in addressing real challenges faced by the industry. Getting here wasn’t easy—there were hurdles in integrating AI with such a specialized field like tax law—but seeing our hard work pay off with this award is incredibly motivating for the entire team.
With 41 entries in the running, what do you believe made the Bloomberg Tax AI Assistant stand out to the advisory panel?
I think it’s the combination of cutting-edge AI with our deep, practitioner-driven content that really set us apart. Unlike some tools that might offer generic responses, ours are tailored and reliable, directly addressing the nuanced needs of tax professionals. Plus, it aligns perfectly with the industry’s push toward automation and efficiency, meeting a critical demand for faster, smarter research solutions in a competitive landscape.
Looking ahead, what’s on the horizon for the Bloomberg Tax AI Assistant?
We’re excited to keep pushing the boundaries. There are plans to enhance the tool with new features, like deeper integration with other workflows and expanded capabilities for even more complex queries. We’re also looking at ways to adapt to emerging tax challenges, ensuring the tool evolves alongside regulatory changes and industry trends. Our vision is to make it an indispensable partner for tax professionals in the years to come.
What is your forecast for the future of AI in tax research and compliance?
I believe AI will become a cornerstone of tax research and compliance, fundamentally changing how professionals operate. We’re likely to see even greater personalization and predictive capabilities, where tools anticipate needs before a question is even asked. The focus will shift further toward strategic advisory roles as AI handles more of the heavy lifting on data and compliance. It’s an exciting time, and I think we’re just scratching the surface of what’s possible.
