Sasan K Goodarzi, Chief Executive Officer of Intuit, says the company’s AI focus centers on leveraging its AI-driven expert platform strategy to deliver innovative, customer-centric solutions that drive tangible outcomes for individuals and businesses.
Intuit’s revenue rose 10 percent to $3.3 billion for the first quarter of fiscal 2025, which ended October 31, 2024.
Intuit expects revenue of $3.812 billion to $3.845 billion, growth of approximately 13 to 14 percent, for the second quarter of fiscal year 2025, which ends January 31.
“We’ve had a strong start to the year as we demonstrate the power of Intuit’s AI-driven expert platform strategy. By delivering ‘done-for-you’ experiences, enabled by AI with access to AI-powered human experts, we continue to fuel the success of consumers and businesses,” Sasan Goodarzi, Intuit’s chief executive officer, said.
Here are the key highlights of Intuit’s AI initiatives and strategic focus:
- AI-Driven Transformation
Intuit has evolved from a tax and accounting platform into a comprehensive AI-driven expert platform.
The platform integrates AI-powered human expertise to create “done-for-you” experiences while keeping customers in control.
AI capabilities are embedded across applications to improve usability, speed, and cost efficiency for customers.
- Consumer Platform Enhancements
AI helps customers make smarter financial decisions, improve financial health, and achieve optimal tax outcomes.
Intuit Assist, a generative AI-powered assistant, enables seamless cash flow management by turning various inputs into actionable financial tasks such as invoices and bills.
AI enhances year-round engagement through solutions like Credit Karma to accelerate monetization across verticals like insurance and lending.
- Business Platform Innovations
The platform supports end-to-end business growth with features like Intuit Assist and the Intuit Enterprise Suite (IES), which cater to mid-market businesses.
AI automates complex tasks like multi-entity reporting, invoice matching, and actionable insights to streamline operations.
Intuit Assist helps businesses get paid faster, optimize cash flow, and reduce operational bottlenecks.
- Competitive Advantage in AI
Intuit capitalizes on its scale of data, robust ecosystem of applications, and a network of AI-powered virtual experts.
By automating tasks and personalizing financial solutions, Intuit aims to disrupt traditional financial services and tax preparation categories.
- Disrupting the Mid-Market
Through offerings like IES, Intuit addresses the needs of complex mid-market businesses by enabling AI-powered multi-entity management and integration of financial services.
The company sees a significant opportunity in the $89 billion total addressable market (TAM) and aims to become the preferred solution for mid-market enterprises.
- AI-Fueled Innovation and Proof Points
AI-driven automation has improved cash flow management, sped up invoice processing, and enhanced customer engagement, driving significant platform adoption.
Success stories, such as businesses cutting multi-day processes to minutes with IES, underscore the platform’s impact.
Intuit is positioned as a leader in AI-driven innovation, delivering transformative solutions to power the financial success of consumers and businesses alike. By integrating advanced AI capabilities, it is well on its way to redefining the financial services landscape.
