Intuit, the maker of TurboTax, Credit Karma, QuickBooks and Mailchimp, will preview a new artificial intelligence (AI) system designed to help businesses increase revenue through smarter marketing.
The Mountain View, California, company said in a press release emailed to PYMNTS that its “revenue intelligence” technology would use what it called “always-on” predictive and generative AI models. The system is intended to proactively give marketers opportunities to win more business by recommending optimal times to target customers and by generating personalized content, the company said.
Intuit’s move is the latest example of a technology company tapping AI to try to make its products more useful and attract customers. AI has been one of the hottest areas of technology investment in recent years as startups and big companies alike race to capitalize on its potential to automate tasks and provide new insights from data.
The new tools’ preview is slated for Intuit’s annual customer event in London Thursday (June 13). Customers worldwide can sign up for early access to the technology.
“Predicting what will spur different customers to explore, to spend, and stay loyal remains one of the most complicated challenges for marketers — and simultaneously one of their biggest growth opportunities,” said Rania Succar, senior vice president and general manager of Mailchimp, in a statement.
One component of the revenue intelligence system will draw on financial data from Intuit’s QuickBooks accounting software, using AI trained on financial metrics to help marketers spot missed opportunities, benchmark their marketing against similar companies, and recommend discounts to drive sales, Intuit said.
The technology will work within Mailchimp’s marketing platform, providing automated insights without requiring marketers to use additional tools or learn new processes, the company said. The system is also designed to predict potential revenue from different customer segments, recommend when to send marketing messages for repeat purchases, generate branded content, and visualize customer data to help marketers prioritize growth efforts.
“Utilizing AI to help with analytics and finding out more about customers — really getting a clear idea of who they are and what their shopping habits are — is key for us,” Charlotte Howell, digital marketing and eCommerce manager at Grafton International, an Intuit customer that has previewed the technology, said in a statement.
Howell said that rather than having to dig through data, the new tools should make it easier and faster to make effective marketing decisions.
Intuit said it had used AI in its products for years, including in a system called Intuit Assist that it released for Mailchimp in 2023. That technology aimed to help marketers save time and send more effective campaigns.
In conjunction with the London event, Mailchimp said it was also expanding its SMS marketing features to the U.K. after launching them in the U.S. last June. Many marketers have found SMS to be an effective way to reach customers, often in combination with email, since consumers tend to have their phones with them at all times.
Intuit said Mailchimp customers in the U.S. are seeing up to 16 times the return on investment in the first three months after launching their first SMS campaign, at delivery rates of over 93%.
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