by Angela Guess
A recent press release reports, “H&R Block, Inc. is reinventing the category it founded more than 60 years ago by introducing a new, exclusive, consumer-facing experience that incorporates IBM Watson. The technology will be used by H&R Block’s tax professionals this tax season to help deliver the best outcome for each unique tax situation, while helping clients better understand how different filing options can impact their tax outcome. The collaboration between H&R Block and IBM represents the first time Watson will be applied to tax preparation, enabling millions of filers to benefit from the industry-leading expertise of H&R Block’s tax professionals, who will now partner with Watson to improve the client experience and aid in identifying credits and deductions.”
Bill Cobb, H&R Block’s president and chief executive officer, commented, “We are introducing something this tax season that is totally new, and is in fact, a first in the tax preparation category… By combining the human expertise, knowledge and judgment of our tax professionals with the cutting-edge cognitive computing power of Watson, we are creating a future where our clients will benefit from an enhanced experience and our tax pros will have the latest technology to help them ensure every deduction and credit is found. This partnership with Watson means we can leverage the best technology available to help our clients get their taxes won.”
The release adds, “The field of tax preparation involves massive volumes of data, including a federal tax code with more than 74,000 pages and thousands of yearly tax law changes, all of which impacts a client’s tax outcome. As part of the first phase of the collaboration, H&R Block and IBM development teams trained Watson in the language of tax, first applying the technology to the thousands of questions and topics discussed during the return filing process. The result is a new cognitive experience for filers offered for the first time this tax season at H&R Block retail locations. The solution uses cloud-based Watson services to understand context, interpret intent and draw connections between clients’ statements and relevant areas of their return.”
Read more at Globe Newswire.
Photo credit: IBM