WTS PSP AI concludes content and technology partnership with Otto Schmidt and Taxy.io

WTS PSP AI, a leading provider of AI platforms in the financial sector, has entered into a content partnership with the Otto Schmidt publishing group and a technology partnership with the AI company Taxy.io. The AI joint venture thus combines extensive, quality-assured tax expertise with the power of generative language models to further expand its leading market position.

“A milestone we've all been waiting for!” says Michel Braun, Managing Director of WTS PSP AI and Chief AI Officer of WTS Group AG. “The merging of publishing content with generative language models is another big step towards making AI usable in the tax sector. We are delighted that the Otto Schmidt publishing group and Taxy.io have decided to partner with us."

The linchpin of WTS PSP AI is the plAIground. Otto Schmidt will make its AI solution “answers”, which was developed in cooperation with Taxy.io, available on this platform in future. “Otto Schmidt answers” can therefore be used directly via the AI plAIground. The best thing about this is that the high-quality content provided by the publishers can be enriched with internal company guidelines in the future, allowing answers to be tailored specifically to the company's needs.

With the AI plAIground, users can control various AI assistants. These include confidential chat with a generative language model as well as the analysis, transcription and editing of text documents using other AI-based tools. Dedicated chatbots have also been developed specifically for the tax sector, which provide tax managers with targeted support in their daily work and will now also be able to access Otto Schmidt content and Taxy.io technology via “answers”. The tried-and-tested content basis for this is the “Tax Law Action Module” of the Otto Schmidt online database.

“This protects state-of-the-art results from hallucinations and provides clear source references, which are also linked directly online in Otto Schmidt,” reports Sven Peper, Managing Director of Taxy.io.

“With the AI plAIground, we have already succeeded in enabling a large number of users to integrate generative AI in the tax sector into their operational work. The expansion of the cooperation will enable companies to link their own data with specific tax literature even more efficiently in the future,” explains Stefan Groß, Managing Director of WTS PSP AI and Partner at PSP Munich.

Further information about the plAIground is available at the following link: https://wts.com/de-de/aiplatform