In response to the rise of generative AI following the launch of ChatGPT, Intuit’s CEO set a goal to introduce a significant AI-driven product by September 2023. The resulting product, Intuit Assist, was intended to serve as a chat-based assistant integrated with its applications like QuickBooks and TurboTax. However, the implementation failed to meet expectations, leading to criticisms regarding its usability.
Alex Balazs, Intuit’s CTO, noted that simply adding a chat interface to an established user interface did not enhance the overall experience. As a result of the disappointing launch, Dave Talach, Senior Vice President of the QuickBooks team, described the situation as a “trough of disillusionment.” The chatbot created confusion among users, suggesting that trust and functionality were not effectively communicated.
In response, Intuit underwent a comprehensive transformation over nine months, focusing on user workflows rather than solely on the chat function. Observations of customer behavior, such as manually transcribing invoices, prompted a shift in strategy to eliminate manual tasks through automation. This pivot led to commitments towards an AI-native future involving a revamp of product development processes.
Management restructured teams to emphasize small, agile groups and reduced layers of bureaucracy, which included laying off around 1,800 employees. The new model promoted rapid prototyping and customer-centric designs, replacing conventional document-based processes with functional prototypes shown directly to users.
Intuit’s internal AI platform, GenOS, was developed to facilitate this new way of working. It allowed for quick iteration and flexibility in utilizing AI, leveraging the company’s extensive domain-specific data to enhance accuracy in its financial tools.
The outcomes of these changes have been notable. Small businesses utilizing the new AI agents reported receiving payments five days faster and saving up to 12 hours a month on tasks. With a focus on expanding these capabilities for larger, mid-market companies, Intuit’s experience shows the importance of understanding customer needs as central to successful AI implementation.
Source: https://venturebeat.com/ai/how-intuit-killed-the-chatbot-crutch-and-built-an-agentic-ai-playbook-you-can-copy/