TPGenie has made a significant leap towards automation and artificial intelligence by seamlessly incorporating ChatGPT – a state-of-the-art natural language generation system. Utilizing OpenAI‘s AI-powered technology, TPGenie can now produce natural language responses to transfer pricing-related queries, offering a more interactive and conversational user experience and reducing the time spent on creating Local Files and Master Files. By integrating ChatGPT in transfer pricing software, Intra Pricing Solutions sets TPGenie apart as the first-ever transfer pricing documentation tool to implement AI to this degree.
Usage of ChatGPT in TPGenie
The AI capabilities in TPGenie can assist you in different ways.
Firstly, with an AI writing assistant powered by ChatGPT, TPGenie users now have access to an unparalleled level of writing assistance to help them identify conceptual and contextual inconsistencies, typos, grammar errors, and miscalculations.
Secondly, in writing a description of functions, risks, and assets while preparing a Functional Analysis, and provide examples and guiding on how to do it correctly. The system can also retrieve summarised country-related data, making it easier for you to comply with local Transfer Pricing Regulations with minimum effort.
Lastly, ChatGPT in transfer pricing software TPGenie can also improve the accuracy and relevance of additional information used in Local files or Master files. This new functionality acts as an additional writing assistant, helping you in formulating descriptions of functions, industries, MNE and company data.
Additionally, ChatGPT is neatlessly integrated with the Transfer Pricing Benchmarking database, for retrieving additional company related information. You can read more about it in this blog.
The ChatGPT features are included for free in TPGenie Basic and for a small fee it can be included in your TPGenie Business or TPGenie Enterprise license.
As ChatGPT and other AI tools continue to improve, TPGenie will keep adding additional capabilities to enhance your experience and compliance with Transfer Pricing regulations and compliance. TPGenie is a game-changer in the world of transfer pricing documentation automation and AI, making it easier for you to interact with machines and achieve your quickly and efficiently.
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