Wolters Kluwer Recognized for AI Innovation in 7th Annual Artificial Intelligence Awards Program
July 18 2024 - 10:00AM
Business Wire
Prestigious international awards program honors
standout AI and Machine Learning solutions and companies
Wolters Kluwer Tax & Accounting (TAA), a global leader in
professional information, software solutions, and services, today
announced that the Wolters Kluwer CCH® AnswerConnect platform has
been selected as winner of the “Best Natural Language Generation
Platform” award in the seventh annual AI Breakthrough Awards
program conducted by AI Breakthrough, a leading market intelligence
organization that recognizes the top companies, technologies and
products in the global Artificial Intelligence (AI) market
today.
Wolters Kluwer CCH AnswerConnect is a comprehensive tax research
platform enhanced with generative AI (GenAI) capabilities to
streamline and augment the tax research process. The company has
developed three intertwined search features that improve the search
experience. Using a Retrieval-Augmented Generation (RAG) model
trained with Wolters Kluwer’s proprietary tax and legislative
content (updated daily by a team of editors, accountants and tax
attorneys), the new features provide quick, relevant,
easy-to-understand, and actionable responses to research queries,
along with necessary citations.
“The sheer volume and nuance of tax information makes it
challenging for a researcher to quickly find information relevant
to a client’s facts and circumstances. We’ve partnered with our
clients to identify exactly where the tax research workflow breaks
down for complicated matters, and to deliver GenAI enhancements to
CCH AnswerConnect to dramatically improve that research
experience,” said Dean Sonderegger, Senior Vice President and
General Manager, Canada and Research & Learning of Wolters
Kluwer TAA North America. “We appreciate AI Breakthrough’s
recognition of our achievement in addressing these breakdowns. The
GenAI extensions to CCH AnswerConnect make our high-quality,
continuously updated, proprietary content more accessible and
actionable for our valued customers.”
CCH AnswerConnect surfaces answers to common tax questions that
have been written by the company’s editorial team. The RAG model is
trained to respond to natural language queries, such as “What is
the standard business mileage rate in 2024?” An improved user
interface displays the response in a box labeled ‘Editorially
Curated Answer’ along with links to related documentation.
Customers can easily move from on-point content to trusted
reference sources to verify the answer and/or dig deeper.
The mission of the AI Breakthrough Awards is to honor excellence
and recognize the innovation, hard work and success in a range of
AI and machine learning related categories.
“With its state-of-the-art features and seamless integration,
CCH AnswerConnect makes conquering federal, state, and
international tax challenges easier than ever. Finding answers to
specific tax scenarios is like trying to find a needle in a
haystack. Additionally, there’s uncertainty about whether answers
from third party search tools are accurate, up-to-date, and
trustworthy,” said Steve Johansson, managing director, AI
Breakthrough. “We’re awarding Wolters Kluwer with ‘Best Natural
Language Generation Platform’ for AI innovations that are focused
on building firm intelligence for tax and accounting professionals
so they can more easily make trusted and informed decisions around
complex issues.”
For more information on the latest in AI, please visit Wolters
Kluwer’s corporate AI Center or the TAA AI Hub page.
About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a
global leader in information, software solutions and services for
professionals in healthcare; tax and accounting; financial and
corporate compliance; legal and regulatory; corporate performance
and ESG. We help our customers make critical decisions every day by
providing expert solutions that combine deep domain knowledge with
technology and services.
Wolters Kluwer reported 2023 annual revenues of €5.6 billion.
The group serves customers in over 180 countries, maintains
operations in over 40 countries, and employs approximately 21,400
people worldwide. The company is headquartered in Alphen aan den
Rijn, the Netherlands.
For more information, visit www.wolterskluwer.com, follow us on
LinkedIn, Facebook, YouTube and Instagram.
About AI Breakthrough Part of Tech Breakthrough, a
leading market intelligence and recognition platform for global
technology innovation and leadership, the AI Breakthrough Awards
program is devoted to honoring excellence in Artificial
Intelligence technologies, services, companies and products. The AI
Breakthrough Awards provide public recognition for the achievements
of AI companies and products in categories including Generative AI,
Machine Learning, AI Platforms, Robotics, Business Intelligence, AI
Hardware, Computer Vision and more. For more information visit
AIBreakthroughAwards.com.
Tech Breakthrough LLC does not endorse any vendor, product or
service depicted in our recognition programs, and does not advise
technology users to select only those vendors with award
designations. Tech Breakthrough LLC recognition consists of the
opinions of the Tech Breakthrough LLC organization and should not
be construed as statements of fact. Tech Breakthrough LLC disclaims
all warranties, expressed or implied, with respect to this
recognition program, including any warranties of merchantability or
fitness for a particular purpose.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240718490513/en/
Media Contact Shannon Wherry Associate Director, External
Communications Tax & Accounting Wolters Kluwer Office +1
972-209-2767 shannon.wherry@wolterskluwer.com