TaxLeopard, InnovateGPT and RMIT partner to build groundbreaking AI-driven Smart Tax Assistant
TaxLeopard, a one-stop accounting software and tax app for self-employed and contractors in Australia, has today announced a partnership with leading Generative AI incubator, InnovateGPT, to build a groundbreaking Smart Tax Assistant for sole traders.
The partnership adds to TaxLeopard’s existing AI capabilities, which includes a strategic partnership with RMIT University. TaxLeopard has been working closely with RMIT to put the building blocks in place for the development of the Smart Tax Assistant, and InnovateGPT has now been onboarded to help accelerate its inception.
InnovateGPT brings over 100 years of combined experience to the project, with its executive team formerly holding senior roles at global tech giants including Microsoft and Google. The company, which has been providing in-depth AI expertise, with a unique focus on GenAI since 2017, has helped establish over 15 joint-venture Australian Generative AI companies across sectors including education, energy, sustainability, construction, health and life sciences, and financial services.
TaxLeopard’s Smart Tax Assistant, which the three organisations are collaborating to develop, aims to leverage advanced AI technology to provide tailored, on-demand, real-time accounting and tax assistance to sole traders. This will ensure they receive expert advice precisely when they need it, which will be based on their unique financial situations, eliminating the delay and generic advice associated with traditional tax consultations.
Selda Kaplan, Co-Founder and CEO at TaxLeopard, said, “Our collaboration with InnovateGPT is a bold step towards redefining the landscape of tax management through AI-driven innovation. By harnessing the disruptive power of Generative AI, we’re setting a new standard for service excellence and technological advancement in the industry. TaxLeopard and InnovateGPT – with the support of the incredible team at RMIT – are together crafting a future where managing taxes is not just easier, but a seamless part of doing business, empowering sole traders across Australia to focus on what they do best – running their business.”
George Stavrakakis, CEO at InnovateGPT Group, said, “We’re delighted to be joining TaxLeopard and RMIT in developing what is set to be an industry-shaking technology. The AI-in-accounting market has huge potential. It’s predicted to reach USD 15.69 billion globally in 2027, and by developing a sophisticated smart accounting assistant, we’ll be helping TaxLeopard solve a major pain point for SMBs and sole traders, who spend as many as 15 hours a week on financial admin. The depth of personalisation and the real-time assistance capabilities that TaxLeopard aims to offer with its Smart Tax Assistant will solve plenty of headaches for the smallest of businesses and may set a new benchmark in the industry.
Assoc. Professor Jeffrey Chan, Responsible AI Specialist at RMIT CIAIRI, added, “InnovateGPT will play a critical role in bringing what we’re envisioning to life. With the addition of InnovateGPT, we are developing a complementary mix of capabilities. TaxLeopard brings its rich tax and accounting expertise, InnovateGPT brings its team’s unrivalled experience in developing leading-edge technologies at some of the world’s biggest companies, and we at RMIT bring our ability to develop machine learning and predictive algorithms at scale. It’s a potent combination that we believe can build something really special.”
