Use AI or flip through 6 million documents manually

Financial advisors and tax professionals seeking answers about clients' strategies can search the internet or untold numbers of books. Or they could simply ask an artificial intelligence-powered tool.

"There's a general distrust of AI and probably a healthy distrust of AI," Dean Sonderegger, senior vice president and general manager of tax and accounting at global accounting, information and software firm Wolters Kluwer, told me. "The way you address that is you ground the tool in a set of content that is not the internet but is a very highly curated set of content."

Sonderegger was talking about the firm's "CCH AnswerConnect" service, which uses a bot that culls through 6 million sources of information at once to track down solutions to clients' problems. It's part of a growing number of AI tools focusing on boosting the tax efficiency of investment portfolios.

See more in the story below. And have a great week.