Intuit at Citi’s 2025 Conference: AI-Driven Transformation

On Wednesday, 03 September 2025, Intuit (NASDAQ:INTU) unveiled its strategic direction at Citi’s 2025 Global Technology, Media and Telecommunications Conference. The company emphasized its commitment to leveraging artificial intelligence (AI) to disrupt the software-as-a-service (SaaS) market and enhance customer experience. While the focus on AI offers promising growth, challenges remain in fully integrating these technologies across its platform.

Key Takeaways

• Intuit is focusing on AI integration to enhance customer experience and productivity.
• The GenOS platform is central to Intuit’s strategy for rapid innovation and experimentation.
• By 2030, Intuit aims to be the all-in-one financial platform for businesses and consumers.
• The company plans to expand its market reach by targeting larger businesses.
• Intuit’s AI strategy has led to significant productivity improvements in engineering.

Financial Results

• Engineering productivity has improved eightfold over the past six years.
• AI has been a key driver of recent productivity gains, boosting efficiency by up to 40% in some areas.

Operational Updates

• Intuit is integrating AI with human intelligence in services like TurboTax Live and QuickBooks Live.
• The GenOS platform enables developers to quickly iterate and experiment with AI-driven solutions.
• AI is being used to revolutionize various roles, including engineering and customer success.

Future Outlook

• Intuit plans to evolve its platform to automate tasks and reduce the need for user interaction.
• The company aims to adopt natural interaction modes such as voice and text.
• Intuit intends to expand by serving larger businesses and offering industry-specific solutions.
• The long-term vision is for Intuit to be the primary platform for financial management by 2030.

Q&A Highlights

• Intuit is committed to being a disruptor in the AI space, recognizing the need to either disrupt or be disrupted.

In conclusion, Intuit’s strategy at the Citi conference highlights its ambitious plans to leverage AI for growth and market disruption. For a detailed account, refer to the full transcript below.

Full transcript - Citi’s 2025 Global Technology, Media and Telecommunications Conference:

Steve Enders, Citi Software Team, Citi: Awesome. Well, thanks everybody for, for joining us this morning. I’m Steve Enders, part of the, Citi Software team, and wanna welcome everybody to, to day one of our global TMT conference. With us today for this session, we got Intuit. Alex, wanna thank you so much for for being here, and thank you for joining us.

Alex Balaj, Chief Technology Officer, Intuit: To be here.

Steve Enders, Citi Software Team, Citi: Maybe just to start, I’m sure people know you from from from here, but just maybe give a little bit of your your background and talk a little bit about what you do at, at Intuit.

Alex Balaj, Chief Technology Officer, Intuit: Yeah. Absolutely. So, hello, everyone. Alex Balaj, Intuit’s chief technology officer. I joined Intuit unbelievably in 1999, October 1999, so I’m coming up on twenty six years.

I joined a desktop software company, and I was part of the team that was tasked with put small businesses online. So I was one of the engineers on the first version of QuickBooks Online that we released in late nineteen ninety nine, and it’s been an unbelievable journey at Intuit since then from a frontline engineer who wrote a lot of code, drove a lot of the early innovations that we had online, product strategy, platform strategy. I spent four years in the small business division, so really understanding small businesses and how to actually solve their solve their problems, especially as they moved online. I spent ten years in a platform organization working on some of the early capabilities around, shared data, identity, developer tools, customer support tools, things like that. Spent six years in the TurboTax Group as the chief architect for TurboTax and ran some of the engineering teams there.

Really great experience on the cyclical nature of tax and the urgency of tax prep and really working with the customers there. Five plus years as Intuit’s chief architect and the head of platform engineering, where I drove technology strategy and a lot of the shared services, that are used across all of Intuit’s products. And I’ve been the CTO for two years, and it’s been, it’s been a whirlwind two years and an amazing two years.

Steve Enders, Citi Software Team, Citi: No. It’s great to, it’s great to hear. I mean, you know, with twenty six years of the company, I’m sure you’ve seen a lot of the, a lot of the tech transitions, a lot of, a lot of background there. Maybe you can just kind of talk about, you know, how the Intuit product, how the platform’s developed over over the your twenty six years there, and then maybe we can use that to kinda jump start in some of the AI agentic conversation that’s very top of mind right now.

Alex Balaj, Chief Technology Officer, Intuit: Yeah. Absolutely. So one of the more remarkable things about the time that I spent at Intuit is how comfortable the company has been at disrupting itself and reinventing itself. And that certainly is something that connects back to Scott Cook, the founder, and I have the great privilege of of still having regular one on ones with Scott. And we’re so customer focused.

We’re so focused on solving customer problems that we tend to not get over concentrated on a specific technology choice, a specific platform choice, decisions that were made a year ago, five years ago, ten years ago. And so seeing this company that I joined where I was working on, like I said, some of the early online products and online services, and then there were small moments of, oh, what are we doing? Like, why would small businesses wanna go online? They’re really happy with the desktop products. And so there was, like, this little bit of inertia that prevented us, at the moment from from moving to the next step.

But then as a company, boom, we just kinda blast through that inertia. That’s And what I’ve seen. We we’re constantly reinventing ourselves, and that’s one of the reasons why it’s been so amazing to be there for such a long time. Because as we’ve hit each of these kind of platform shifts from being desktop to online, online to SaaS, SaaS to platform, platform to data and AI, and now truly becoming this AI driven expert platform, what I’ve seen is we reinvent ourselves. And so that reinvention certainly manifests itself in terms of the choices that we make about our technology stack and how we build products and how we market our products, but, also, it’s it’s it connects to how we actually interact with our with our customers and monetize and and commercialize what it is that we do.

So it’s going from, hey. This is a really good way to do accounting to this is the all in one platform where a business can interact with us and never have to leave. They can run their entire business. And it’s not just about the back office. It’s about every part of their business.

From a consumer perspective, it’s not just about doing your taxes. It’s about credit to taxes to wealth. And you can basically use this as your all in one platform, and you never have to leave. And so when I think back twenty five years ago to some of the original things that we did to where we have evolved as a company to be this all in one platform, I think it’s it’s been a testament to, as I said, this reinvention and this idea that, you know, it’s a classic book, the innovator’s dilemma, and that we we constantly kind of power through the innovator’s dilemma.

Steve Enders, Citi Software Team, Citi: That’s that that’s that’s great to hear. Maybe let’s talk about AI. Very very top of mind. Yeah. I mean, you’ve, I think, been working on building out your own AI capabilities within Intuit for almost a a decade now.

What have maybe been kind of the the key learnings, and and how does that maybe set up, you know, Intuit in the platform platform for the, for the future as we think about the agentic age?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. Absolutely. So it’s what I remember. I can’t remember the exact date, but it’s, like, 02/2015, 02/2016, and I was in the TurboTax Group. And, it was the first time that, at least that I’m aware, that we actually leveraged AI inside of our products.

So, one of the biggest drop off points in TurboTax was someone doesn’t know, should I take the standard deduction, or should I itemize? So they go through the entire trouble of going through itemized. They do all the work, you know, an hour’s worth of work, and then they realize the standard deduction would have been better, and they get upset. And they either leave or they go to a tax preparer, whatever the case may be. So, obviously, we wanted to keep those customers, and we said, boy, wouldn’t it be great if we could predict if this customer could actually benefit more from being an itemized filer before they give us all their information?

And that was the first time we had trained a model to say, hey. Let’s see if we can predict. Should is this person gonna be an itemized filer or standard deduction? And to our surprise at the time, it was, like, 97, 98% accuracy we could actually predict before they gave us all their tax info. And that was kind of this eye opening moment for me and for for us as an organization to really understand, boy, the power of data.

And, certainly, the AI is amazing, and we we we have a lot of AI folks who work at Intuit. We we leverage a lot of amazing AI technology partners. But, really, when I think about the lessons that we’ve learned about leveraging AI, creating impactful AI, the first part of it is, boy, the data has to be there. And so with the with the large set of data that we have at Intuit, hundreds of thousands of attributes about every business, about 60,000 attributes for every consumer that that’s on our platform, we can actually leverage that data. And so public models are great.

Public LLMs are great. And we we we use them, and we’ll continue to use them. But, boy, the power of the data. The data is so important. And so the investments that we’ve made in data in terms of making sure our data is clean and organized, our data services to make sure our data is available, and we can get data both locally in our ecosystem and go get it anywhere where it is on the Internet and make it available to our customers, and then how you actually leverage that in your AI, critical, critical part of our AI strategy.

The second thing that I would call out is the AI is great, the AI can solve many, many problems. But for the combination of AI plus what we call HI, human intelligence, is even more powerful. So for us, that manifests itself in our live services, so TurboTax Live assisted, QuickBooks Live assisted, where it’s the combination of what can the AI do and what can an AI enabled human do together to actually go from, boy, this is a really easy product where I could do it myself to this does all the work completely for me, and I don’t have to do anything. So that AI plus the HI for us is something that we continue to lean into. And in fact, as we released our agentic capabilities, so our capabilities that leverage LLMs to automate entire workflows, workflows, one of the really critical features that we built into it was that at any point in this agentic workflow, it can pass you off to a human being.

So if the agent doesn’t know what to do, the AI agent doesn’t know what to do, passes you to a human. And then the human can pass you back to the AI agent. And along the way, we keep track of everything that’s going on. So what the the the human agent knows what the AI agent does, and the AI agent knows what the human agent did. And so AI plus HI to us is such a huge part of our strategy, and we’re continuing to lean into both.

And then the last thing I’ll call out is we’re very particular as to how we set up our teams to actually leverage AI. We wanna make sure that they have unbelievable building blocks, that we can have very small teams who act like they’re startups, and they solve problems. So, you know, the challenge that any big enterprise has, any big company has is how do you take the power of the company that you are and take the the capabilities of you as a big company, but then act like you’re a small company, act like you’re a start up, be extremely agile, take risks. And and so what we did is we specifically in the age of AI, we knew that we had to create a setup, and that’s what we call GenOS, our generative AI operating system. We had to create a setup where our developers and, really, it’s more than develop developer product design AI folks working together.

How do they act like they’re a startup yet leverage the power of Intuit? So creating these these atomic services and capabilities to allow them to move fast, to experiment, to to launch experiments in a matter of days and weeks instead of months and years, and then collect all the metrics about it, see how it’s performing, see how the customers are interacting with it. Are they engaging? Are they reengaging? Are the predictions accurate?

All of those things. We we really made sure that this what AWS refers to as the control plane. We made sure that we invested in this control plane so that our our developers and our builders can iterate very quickly and solve for our customers. So the you know, old old in the only old days, ten years ago of AI, it was about big investments and big projects and, hey. Let’s plan road maps, and let’s roll this out.

And now in the age of AI, it’s about how fast can you move, how fast can you learn. And it’s really one of the big biggest things I’ve been pushing as CTO is you got we have to have this builder culture where we’re building and not talking. We’re not not in meetings, not talking about process. How do you build, get things in front of customers, see what wins, and then when you when it wins, scale it and commercialize it.

Steve Enders, Citi Software Team, Citi: No. That’s that’s great to hear. I’m gonna dig into the portfolio a little bit more. But before we do that, I do wanna ask about, I guess, the own internal initiatives, and I think you touched on it a little bit. But maybe how has all of the the changes that you’ve made there, how is that beginning to, I guess, translate in terms of the efficiencies within the R and D org?

How is it translating into the pace of innovation and how much more quickly you can you can build products?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. Absolutely. So our our initiatives around productivity actually started about ten years ago Mhmm. Where we actually so step one of being more productive is to measure how productive you actually are. So we have a lot of automated metrics gathering that that basically figures out how long does a certain task take for a member of the workforce.

Certainly, we excuse me. Certainly, we’ve invested more in areas larger areas of the workforce, so our engineering development community, customer success. And so for each of these workflows that they do, we know how long it takes. And so step one was to to say from a from a productivity perspective, what can we put into place to actually grow productivity? So we in the tech organization, we talk about is development productivity.

And in the past six years, we’ve improved our productivity 8x. So we can actually we have 8x more throughput from an engineering perspective now than we did five years ago. Probably about 5x of that was just standard development practices, and the last couple of growth areas of productivity were began in terms of our investments in AI. And when you think about AI based productivity, everyone tends to go to the engineering first because we create the tools, and so we came to and aim it back at ourselves first. And I was actually chatting with Dario, the the CEO of Anthropic, two weeks ago, and he was talking about how development productivity, so much of it can be driven by these AI tools.

And our early experience in terms of productivity for our engineers is when using these tools well, they can their productivity goes up by as much as 40% for coding activities. So and that’s early. That’s based on where the tools are today. And so we’re constantly pushing on productivity, but it can’t just be about the engineers. For us, it’s about the entire workforce.

And so we actually have a program where every single functional role in the company, we have a team who’s dedicated to say, how will AI revolutionize how this person works? So you have engineers, customer success, the most obvious ones, finance, HR, marketing. And in each of these roles, we are now going through the same process and saying, how long does it take to actually execute certain tasks, and how do we make these tasks more efficient? And I’m actually very excited that in in two weeks at our Investor Day, I up on stage, I’m actually gonna be demoing a couple of these capabilities, these tools that we’ve built that are completely changing, for example, how marketers work, completely changing how customer success work, how salespeople work, and having it be all AI driven. So big, big area of focus for us.

And, you know, the great the great thing about, I think, the way that we’re approaching this productivity is we’re pushing really hard on productivity. And what that does is it gives us a lever. So with that lever, we can choose, well, what do we wanna do with that productivity? So far with engineering, for example, we poured it back into engineering, and we’ve said, let’s do more. Let’s create more product.

Let’s create more services for our customers. But we can make those choices independently. We can choose to say, hey. Is this a place where we’re gonna take the productivity and do more with the same number of people, or is this a place where we wanna actually recoup some of that productivity and invest it somewhere else? So, it’s a big, big area of focus for us.

Steve Enders, Citi Software Team, Citi: That’s good to, that’s great to hear. And I guess good plug for the investor day in, in two weeks on, on Thursday. Maybe it’s a good a good time to start talking about how you’re building AI into the product. And I think you mentioned you’re thinking about the personas and of of customers and users. How does that kind of inform how you build out the range of products for your end customers?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. So I I think in order to answer that, I I think I have to first talk about what’s the wrong way to solve the problem. Because I think across the industry, there’s been a lot of examples of the wrong way to solve the problem. So the wrong way to solve the problem is to say, I’m gonna take a specific feature and just turn it into AI. And when you do that, it tends to not resonate well with the people that you actually did the work for.

So they’ll they’ll say, you move my cheese or you I don’t understand this. Or I I don’t want I’m not here for AI. I’m here to manage the finances for my business. I’m here to do my taxes. Why are you showing me AI?

And so we completely changed our approach about a year ago where we said, what are end to end customer workflows? And that the customer themselves, they don’t wanna do. And if you could take this entire end to end customer workflow and actually automate the entire thing, then all the customer knows is that it was done for them. And so how do you how do you approach customer workflows? And so when I sit down with various teams, and in fact, I was just here at our New York office yesterday, and I was meeting with some of the engineering teams.

And they were asking me, like, how should they approach integrating AI into our products? And what I told them was, don’t think of it as you’re creating smarter software. Think of it as if a human did that for that person, how would they solve the problem? Because that is a much better way to leverage AI. The way you leverage AI is you said if if you delegated this to a human, how would the human solve the problem?

So the very specific example is if if you’re inside of QuickBooks and you’re a a lawn care business and you go on a job and you are quoting some big commercial lawn care project to do all the lawn maintenance for some big office park. And the you write a quote. You write an estimate. So under normal circumstances, what would happen is you would take that estimate. You’d end of the day, you’d go back to the office.

You’d probably give it to someone. That person would transpose it and put it into an email. That email would be sent out to the customer. The customer would decide, okay. Do I actually wanna take this estimate?

They’d send it back and say, okay. I’ll do it. Then another person takes that and puts it into the accounting system and creates an invoice, and they send the invoice. And then a payment comes in Or, actually, payment probably doesn’t come in. They forget to pay it.

So you have to send a reminder. Right? And these are all human activities. So everything I just described, our agents do automatically on our platform. So you create an estimate.

You can write it onto a piece of paper. You take a picture of it. That estimate automatically goes into our platform. The estimate is sent out to the customer. The customer digitally can accept it.

It comes back to our platform. It automatically sends the invoice. They approve the invoice. If the time goes by and they didn’t actually pay the invoice, we’ll automatically send the reminder. And but along the way, the business owner has the ability to control various aspects of it.

So they can control the voice and tone of the messages. They can control the frequency, but the work is done for them. And so that is an amazing use of AI. Right? Because now instead of that business owner not to mention the fact that one of the things that we’ve learned is that I believe it’s 80% of the time, the first quote that goes for a business owner, the first quote wins.

So now imagine you go back to the office and you send that quote, that estimate late in the night, and by then, two or three other people have sent estimates. You’ve just lost that job. So when when our customers see this, they they they truly understand the power of AI, but they don’t they don’t see it as AI. They see it as you’re doing the work for me so that I don’t have to do it. I’m more efficient.

I win more work. I make more money. And then, therefore, with that value proposition, I’m willing to pay you more money.

Steve Enders, Citi Software Team, Citi: That’s interesting. I guess with that kind of perspective, you know, we think about what the Intuit product portfolio maybe looks like a few years from now, you know, with agentic experiences maturing Yeah. With, you know, the just generative AI product set becoming more powerful. Just what does that look like? And maybe it helps to kinda frame, you know, what is possible today versus a few years ago and maybe how that begins to progress even further.

Alex Balaj, Chief Technology Officer, Intuit: Yeah. So Intuit spent the first forty years of its existence creating products to make it easy for you to do it yourself. Mhmm. And we spent the past two plus years and now going into the future creating products that will do it for you. And that’s the best way to kinda describe where our strategy is going.

And that manifests itself that instead of these stand alone products, it’s a platform. And so I talked about it in the beginning about this concept of the all in one platform that you don’t have to understand different tools. You don’t you don’t have to know under this circumstance. Have to use this tool. I have to find this data.

I have to implement this workflow. The work is actually done for you. Mhmm. And so the evolution of our product strategy is this all in one platform, and the platform will do the work for you. And so we’ve already seen early manifestations of that.

Certainly, in the business platform with the agent capabilities, we released these 10 agents in July, and we’re continuing to invest in these end to end workflows. And over time, what you will see is quite directly the amount of user experience UX starts to go down, and the interaction modes tend to be something that are more simple and familiar, so they could end up being voice. They could end up being video avatars or avatars. They could be, you know, the things that are more familiar to the customer. And in fact, you know, to answer your question about what’s possible today and what will be possible in the future, a lot of this is actually possible today.

And in fact, we have early versions of some of our mobile products that almost completely eliminate the UI, and almost the entire interaction is just voice and text. And so if you’re going out on a job and you work for a mid market business and you’re doing construction, when you go out to the job, the mobile app will summarize everything that you need to know. It will tell you who the customer is. It’ll tell you what the action items are. It will tell you if they owe you money.

It will tell you what the next part of the job is. And then if you want to interact with it, you can type, you can talk to it. And is that is is all of that available today where we can completely eliminate that? No. But what we are working on is the capabilities like, if that’s our north star is that it’s completely done for you, then what we’re working on is how much of this interaction, how much of these more traditional clickable UIs can we actually eliminate in lieu of actually doing the work for you and making the experience and the interaction be more natural and more human like.

Okay.

Steve Enders, Citi Software Team, Citi: As as you think about that, how do you, I guess, then kinda go to the next step? How do you monetize that? How does it actually maybe show up in terms of, you know, how you generate revenue from it? Is it about driving cross sell and and and driving some of the the broader portfolio, Or is it is it about layering these capabilities in and and using that as a different lever for for driving, you know, price over time?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. I mean, it’s it’s all of the above. But what I would say is that we’ve already seen that in terms of our product lineup and as you kind of go up up the product lineup, the customer value that you describe that is delivered by AI is reasons why people will trade up. What they won’t trade up for is, hey. This is the non AI version, and this is the AI version.

Many of our customers, like, I don’t know what that means. But if they say, we’ll automatically do invoicing for you. We will automatically generate all your marketing campaigns for you. It will automatically run payroll and collect all your your payroll information for all your employees so you don’t have to hire a payroll clerk. These are the things they understand.

And so when they look at a product lineup, the monetization commercialization comes from getting customers to actually move up the lineup. The other thing that becomes extremely valuable, which you touched on, is that because it is this all in one platform and because it is these end to end workflows, the traditional way to interact with a customer to sign on for these additional services, it very much feels like an ad. It’s not supposed to be an ad. I mean, to us, it kind of ends up being an ad because it pops up, and then they click yes, and they sign up, and we make more money. So that’s kind of the definition of an ad.

But in reality, the reason we’re showing it is because we actually think the customer can benefit from it. But when it’s an end to end workflow, and as part of this workflow, they have to do something, but if then if they sign up for this thing here, then they don’t have to do it anymore, to them, it doesn’t feel like an ad anymore. And that’s actually some of the early feedback that we’re getting from our customers, for in product discovery. So how how do customers actually discover these things? And so what that allows us to do is to basically, in some sense, the traditional land and expand.

Right? So you kind of land, the customer joins your platform, and they show up for a specific reason. There’s a specific job that they want solved. And over time, you expand. But the way that you expand is that you show the customer, hey.

Here’s a report that actually shows your projections of of what your revenue will be over the next three months, six months, twelve months. And the first one they get for free. And then they say, boy, I’d like to see that that projection again. Oh, you wanna see that projection? You basically have to sign up for this service.

And they’re more than willing to do it because these are the kinds of cash flow project projections and reporting and automations that are that make their lives easier and allow them to actually concentrate on running their business instead of the mechanics of running their back office.

Steve Enders, Citi Software Team, Citi: Okay. I guess I think you talked a little bit about, you know, maybe changing the interface for for how customers interact with Intuit or interact with with the platform. How does that maybe change, you know, the go to market approach? How does that change the some of the upsell and cross sell mechanisms that, you know, to your point, traditionally, it looked maybe like an ad, but you’re trying to change that. So just how does that look look different today or moving forward?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. So it’s it’s interesting. A couple weeks ago, was sitting down with the marketing team and reviewing how they went through the process of of inspecting and understanding all the AI capabilities that we were building. Mhmm. And they actually ran did an amazing job.

They ran a bunch of experiments. So, obviously, we we love running experiments. There’s no substitute from hearing from the customer. Right? So what do you have to do?

You have to run a lot of experiments. So we ran a lot of experiments in terms of our commercialization strategy, and we we we put things out there like, hey. If you have this version of QuickBooks or an AI version of QuickBooks, which one would you buy? Doesn’t resonate. Hey.

If we, deliver this and this specific feature is automated versus not, will you pay for it? Didn’t really resonate. What really resonated is the benefit. It just always goes back to customer benefit. So for us, no work, complete confidence, more money.

And so when you connect it back to the benefit, then the customer actually understands it. So the way it ties to our marketing strategies is that, if you look at turbotax.com, quickbooks.com, some of our marketing front doors six months ago, nine months ago, they tended to be product, product, product, product. And if you look at them now, it’s benefit, benefit, benefit, benefit. And so it’s more about the benefit. And having them choose a product, having some carousel where they have to make decisions, those are things that are actually becoming a thing of the past.

Because the customer doesn’t actually even really understand them, to be quite honest. What they understand is what benefit am I going to get out of it. And so our marketing campaigns and therefore commercialization campaigns have been tied to benefit. And so when the customer perceives benefit, so we are giving them benefit, we know they will give us benefit. Mhmm.

And that’s when they’re willing to pay for these things.

Steve Enders, Citi Software Team, Citi: Okay. That makes that makes sense. I’m gonna shift gears a little bit and just you know, I think we hear a lot of concerns from investors on, you know, AI impact to to to software, what that means for for for SaaS. And, you know, I think we hear about the death of SaaS sometimes. But it would be great to kinda get your perspective on on and how you think about, you know, the market.

How does Intuit maybe, you know, stay ahead of the competitors in the space? How do you think about, know, you building out a product set when there is this kind of era of disruption right now?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. So there is no middle ground in this space. You’re either gonna be disrupted or you’re gonna be the disruptor. There’s as much as any time in my career that I’ve seen and reading the tea leaves as to where things are and where they’re gonna be, we we talked about things like cloud. And when cloud came out, I was like, oh, if you don’t go to the cloud, you’re gonna be Yet there’s still companies today that probably aren’t running on a public cloud.

But in this area of AI and SaaS and business logic, you’re either the disruptor or you’re gonna be disrupted. And that is absolutely the way that we are approaching this. So what does that mean? It means that the days of hand coding business logic into SaaS applications are numbered. And so that is the reason why we are investing so much in in allowing ourselves to build this platform where AI and agentic capabilities become the business logic.

And the business logic learns from the data, it learns from the training that we give it, it learns from the experience that we have, and that is why we firmly believe, I firmly believe, in this area of disruptor and disrupted, we will be the disruptor. Because we have 100,000,000 customers, because we have all this data, because we have our platform, we have the ability to be the disruptor, and we will be the disruptor. And so the power, the investments that we’ve made in our platform, where we have all these back end capabilities, are extremely valuable because the business logic that sits on top of it, this AI, this AI is only as good as the tools and the data that it has access to. So what has Intuit invested in the past ten years? Tools and data.

Mhmm. That’s what we’ve exactly what we’ve invested in. Now we’ve also invested in the AI. And so, absolutely, there is there is nothing sacred about any part of any of our products. Every single experience we have, every single app we have, every single product we have, we are self disrupting it.

Going back to the first thing I talked about because you’re absolutely right. You’re either gonna be disrupted or you’re gonna be the disruptor, and we are aggressively leaning in so that we are the disruptor.

Steve Enders, Citi Software Team, Citi: Okay. That’s that’s great to hear. I wanna I know we’re kinda getting your your time here, but just, you know, as we think about the the last couple of minutes, just what is maybe the the future of Intuit look like, you know, as you build out these broader agenda capabilities? Maybe how is the portfolio different, you know, a few years from now, five years from now if we’re talking here at Citi twenty thirty

Alex Balaj, Chief Technology Officer, Intuit: Yeah.

Steve Enders, Citi Software Team, Citi: Yeah. What what does Intuit look like? How is how is it different?

Alex Balaj, Chief Technology Officer, Intuit: Yeah. I think what you’re gonna see is the scale of the business will change. And so one of the biggest ways the scale of the business will change is the most obvious one, which we’ve already had the strategy around going upmarket in businesses, so going to the midmarket, much larger businesses. So this is definitely a place where AI helps us. And so the future of the business will be as Intuit goes upmarket, and the more you go upmarket, the more verticalized businesses become.

And it used to be, boy, the barrier to entry to verticalize across all these different spaces, the barrier of entry is very high. With AI, the barrier of entry is significantly lower. So what you’ll see in the future of Intuit is a company that has moved upmarket, and we’re solving for significantly larger businesses. We’re solving extremely well in different verticals. What you’ll also see is us go horizontal.

We’ll solve more of those horizontal jobs. And as opposed to being kind of pigeonholed into the historical problems that we solved, AI and our ability to integrate with external data sources and external tools that are running on our platform will allow us to basically solve every job. So it doesn’t matter how big of a business you are, how complicated of a consumer you are, or what job you’re looking to solve, we’ll have the depth or the the depth and the breadth as a platform to actually solve your needs. So in 02/1930, what you’ll see is an Intuit that is less about the individual products and more about, wow. This is the platform that is truly the one stop shop where as a business or as a consumer, for my finances, I don’t have to go anywhere else.

Steve Enders, Citi Software Team, Citi: K. I think it’s a a great place to leave it. Alex, I wanna thank you so much for for being here and and and the broader Intuit team. So thanks again so much.

Alex Balaj, Chief Technology Officer, Intuit: It’s a pleasure to be here. Thank you.

Steve Enders, Citi Software Team, Citi: Thanks, sir.

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