Bloomberg Tax & Accounting Launches Innovation Studio

Bloomberg Tax & Accounting this week announced the launch of its Innovation Studio, which the research and technology solutions provider called “an ideation environment” that offers access to new tools, including generative AI-powered capabilities, that are currently under development for the Bloomberg Tax platform.

The Innovation Studio is currently available to select Bloomberg Tax customers.

The AI Assistant, the first feature released within the Innovation Studio, provides answers to common questions, assists users with tasks, and enables them to leverage documents in helpful ways, such as summarization, according to Bloomberg Tax & Accounting.

The AI Assistant follows in the footsteps of other generative AI tools previously available via Bloomberg Tax Research, such as Bloomberg Tax Answers and the AI Expression Generator on Bloomberg Tax Workpapers.

Lisa Fitzpatrick

“We are excited to leverage the Innovation Studio as a new mechanism to collaborate with our customers to develop and evaluate new and innovative product features that help them do their work more effectively and efficiently,” Lisa Fitzpatrick, president of Bloomberg Tax & Accounting, said in a statement. “We know from experience that the best way to ensure success of the platform’s AI capabilities is in close collaboration with our users, and incorporating their feedback as we develop new products is a longstanding practice at Bloomberg Tax & Accounting.”

Bloomberg Tax & Accounting said providing customers with access to the new Innovation Studio will give users earlier access to features in development while also serving as a means to quickly get users’ critical feedback.

The Innovation Studio approach was introduced by Bloomberg Industry Group in 2023 to prioritize incorporating customer feedback and iteration into the newest product concepts and ensure that new tools meet demand and fit workflows.

For more information on Bloomberg Tax’s AI tools, click here.