Harvey’s Post

GenAI is here to stay. “Ashurst is rolling out the generative AI tool Harvey to all staff, following a successful global trial. The firm’s announcement means that employees worldwide will be able to use Harvey on aspects of work that includes document review, due diligence, drafting and market research. This applies to all lawyers and business services employees in a deal affecting over 4,000 personnel… Ashurst chief digital officer Tara Waters said: “GenAI is here to stay, and this is another step Ashurst is proudly taking to ensure its people and clients can leverage the full potential of this new technology. As a firm, we are committed to not only demystify but harness the value of AI to best support our people, and our clients, and enhance our ability to deliver best-in-class service.”” The full article can be found here: https://lnkd.in/dtpKvstD #GenerativeAI #GenAI #LegalTech #LegalNews

Last week, we attended #ILTACON2023 and had some great conversations about how AI technology can help solve clients' tax issues faster than ever before. Did you miss our team? Book a demo to see Ask Blue J in action, the first generative AI solution built for tax research and fine-tuned for the complexities of tax law. https://www.bluej.com/demo #legaltech #legaltechnology #AITech #TaxResearch #Innovation Troy Williams Patrick Simpson

🚨 Frank Putman shared a cautionary tale in our recent GenAI webinar: A US lawyer was fined for using AI-generated 'hallucinated' sources in court documents. These AI 'hallucinations' create plausible but fake data, a real risk in professional use. 🤔 Understand more about GenAI and how it will impact the tax field in our full webinar. Stay informed, stay sharp! 🧠💡 Watch here: https://lnkd.in/dBjgV5ur The full story about the lawyer can be found here: https://lnkd.in/gQQuHybA #GenAI #TaxTech #TaxAI

According to The Lawyer, the Big Four accounting firms and their associated Continental practices are leading the charge in Europe, surpassing traditional law firms in the race towards AI. Stay ahead of the curve by keeping an eye on the latest developments in this rapidly changing field. #AI #GenerativeAI #BigFour #AccountingFirms #EuropeanLeaders #ContinentalPractices #TheLawyer

Who’s Liable When AI Gets It Wrong? In the latest publication to our whitepaper series Blue J Predicts, CEO Benjamin Alarie and legal analysts Rory McCreight and Cristina Tucciarone examine who is accountable for erroneous or flawed AI generated tax advice and caution that responsibility will ultimately rest with the human tax professionals who are best positioned to ensure that the advice has been properly vetted and verified. 👇 Download the article: https://bit.ly/46Kr3EM Originally posted in Tax Notes. #TaxTechnology #AI #GenerativeAI #LegalTechnology #AccountingTech #tax

Thomson Reuters announced today that it is broadening CoCounsel’s scope, with plans to make the world’s first professional-grade AI assistant available to professionals in fields such as tax, risk, fraud, and media. The company also added new skills for tax and legal professionals, including Checkpoint Edge with CoCounsel, Thomson Reuters' first genAI product for tax professionals, delivering better answers to complex tax questions faster. View the press release to learn more https://lnkd.in/ez4zufH9

#AI and #automation has been present in the world of #accounting for a few years, without minimal contemplation of their consequences. In this article, 🎙️ Ryan Pearcy, Associate Partner at Scrutton Bland in the #UK, talks about the regulatory and ethical considerations with AI in accounting. Discover what is shaping the future of #financialinnovation as we navigate through this transformative era. #audit #tax #advisory 

The ultimate guardian of the quality of client service is the partners’ own judgement but properly utilizing AI can set expectations that will benefit the clients and the firm and end forever the “End of the Billable Hour” stories. By J Mark Santiago in Law Journal Newsletters Accounting and Financial Planning for Law Firms #ai #billablehour #clientservice

Transfer pricing benchmarking is a critical step in helping multinationals comply with transfer pricing rules and regulations – but it’s historically a tedious and error-prone process. As a solution, KPMG US recently patented a component within an AI-backed tool to effectively automate and mine data needed for compliance. Read about how this technology is helping our clients and their tax functions save time and resources: https://ow.ly/7Ol350Rn7Uo #transferpricing #AI #tax

Tired of juggling leases, letters, and local laws? 📝 Meet Looper AI, your game-changing assistant! From eviction letters to move-out checklists and 1031 tax exchanges, Looper AI has you covered. Be detailed and specific for best results. Try Looper AI today at https://lnkd.in/gxBCxyEh. Share your prompts with us! #LooperAI #PropertyManagement #DoorLoop