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Speaker 1: I want to discuss what's happening over at Intuit. Intuit

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Speaker 1: Mailchimp is coming out with a new revenue tool. It's

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Speaker 1: a system of predictive and generative AI models. Basically, it's

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Speaker 1: designed to help market is win more revenue. You're going

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Speaker 1: to send the right email at the right SMS at

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Speaker 1: the right time, with the right conversion into at.

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Speaker 2: CEO is going to talk us through it.

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Speaker 1: Sasam Gourdalzi joining us for more and this is about

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Speaker 1: artificial intelligence. Really in the here, renowned Sasan you have

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Speaker 1: been talking up AI. You've been reworking your business as

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Speaker 1: the time you came in as CEO. I want to

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Speaker 1: you know, qdos to you for talking about it before

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Speaker 1: the rest of the market did. But how is it

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Speaker 1: actually going to generate revenue for you?

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Speaker 3: Well, first of all, thank you so much for having me.

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Speaker 3: You know, what we announced today is a really big deal.

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Speaker 3: Let me first quickly start with context and then talk

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Speaker 3: to what we launched and how over time it will

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Speaker 3: generate revenue for into it. You know, strategically, there are

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Speaker 3: three big things really that we've declared. You know, one

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Speaker 3: is shifting from building workflows where customers do the work

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Speaker 3: to get to their financial outcomes to workflows where we

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Speaker 3: do the work for our customers. The second element is

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Speaker 3: that embedding AI powered experts human experts within every workflow

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Speaker 3: so that there's never a dead end for customers. When

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Speaker 3: there's a dead end with the technology doing the work,

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Speaker 3: are experts that actually sit on our data on AI

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Speaker 3: platform can be the assistant for consumers and small businesses.

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Speaker 2: And third, to take our game to the mid market and.

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Speaker 3: Small enterprises and really serve our customers in ways that

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Speaker 3: they could never imagine possible. Specifically, what we announced today

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Speaker 3: on our Intuit mailchip platform is what we call revenue intelligence.

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Speaker 3: You know, one of the things that small businesses care

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Speaker 3: about most is revenue growth and profitability growth, and within

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Speaker 3: that their cash flow matters a lot. And so revenue

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Speaker 3: intelligence does something remarkable. It leverages all of our customers

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Speaker 3: data across Mailchimp and QuickBooks an essence helps them with

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Speaker 3: understanding how they can drive customer and revenue growth.

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Speaker 2: So imagine Swan.

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Speaker 1: I'm I'm just going to think about imagining as a

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Speaker 1: consumer here though, because I can see how this might

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Speaker 1: be music to marketis is, But me as a consumer,

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Speaker 1: do I want more SMSs. Do I want more emails?

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Speaker 1: Do I want more marketing heading my way?

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Speaker 3: Well, if I finish the thought around this small business

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Speaker 3: and the impact that we'll have to the consumer. In essence,

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Speaker 3: the small business can understand which customers they have an

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Speaker 3: opportunity to provide more services to where they can drive

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Speaker 3: more benefits and profitability. And for a consumer, let's use

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Speaker 3: a couch as an example, or new chairs as an example,

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Speaker 3: as a furniture store that you just came out with.

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Speaker 3: As a consumer of those devices or those couches or chairs,

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Speaker 3: I have an opportunity to know what's available, and I

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Speaker 3: have an opportunity to know where I can modernize my house.

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Speaker 3: And so from a consumer perspective, the benefit is significant

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Speaker 3: and consumers actually believe it or not. Ninety five percent

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Speaker 3: of consumers love to digest SMSs because they're short, they're sweet,

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Speaker 3: and to the point, and it has an enormous impact

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Speaker 3: for consumers and a big impact for small businesses. And ultimately,

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Speaker 3: to answer your question, the more we can help drive

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Speaker 3: revenue and profitability growth for small businesses, the more we

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Speaker 3: have the capability to monetize and be able to drive

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Speaker 3: growth into it. So we're very excited about what we

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Speaker 3: launched today.

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Speaker 4: So Son, I want to talk about the turbo tax

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Speaker 4: business because you've spoken recently about the idea of looking

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Speaker 4: for more customers who actually use human accountants to adopt

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Speaker 4: TurboTax and not use those accounts anymore. Forgive me for

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Speaker 4: getting personal here, but there's a reason I'm asking this question.

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Speaker 4: I would imagine you have a very very complicated tax

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Speaker 4: situation as the president and CEO of this company. Do

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Speaker 4: you use turbo tax for your taxes?

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Speaker 3: Great question. First, let me start with answering your first question.

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Speaker 3: Then I'll answer your question about myself. You know, first

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Speaker 3: and foremost, there's a thirty five billion dollars total addressable market,

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Speaker 3: and of that thirty five billion, thirty billion is consumers

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Speaker 3: and small businesses that actually go to somebody else to

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Speaker 3: have their taxes done. And that's really where we've built

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Speaker 3: out the platform, where it sits on a data and

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Speaker 3: AI platform where we can do your taxes for you.

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Speaker 3: From a governance perspective, I do not use turbo tax

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Speaker 3: because it's important from a governance perspective that somebody else

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Speaker 3: does my taxes for me outside of our platform. So

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Speaker 3: that's the reason why don't. I would okay to do

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Speaker 3: it because we have great experts.

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Speaker 4: What I was going to say is, do you ever

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Speaker 4: picture a time where somebody with as complicated a tax

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Speaker 4: picture as the executive a publicly traded company can only

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Speaker 4: use a product like TurboTax for their taxes? Does that

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Speaker 4: day common?

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Speaker 2: If? Yes? When? Well, first of all, we can do

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Speaker 2: that today.

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Speaker 3: If there wasn't a governance issue, I could have one

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Speaker 3: of our experts do all of my taxes today. You know,

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Speaker 3: our experts can today do anybody's taxes for them.

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Speaker 2: And it's all digital, it's all.

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Speaker 3: AI powered, and we have multiple second reviews within our

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Speaker 3: platform to ensure that your taxes are done curately and

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Speaker 3: that you're either getting the largest refund or if you

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Speaker 3: have a balanced that you're paying the right amount.

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Speaker 2: But today, anybody can do.

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Speaker 3: Their taxes on our platform and have us do it

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Speaker 3: for them because we have all of the expertise, all

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Speaker 3: of the data and AI capabilities with the best experts

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Speaker 3: in the industry on our platform.

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Speaker 2: Yeah.

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Speaker 1: We were just seeing sasan how well your share price

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Speaker 1: has been doing of late, and in many ways of

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Speaker 1: late we've seen it pop because there's a price increase

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Speaker 1: coming according to Mazooho analyst in particularly, who is outlining

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Speaker 1: what that's going to do for your revenue sasan how

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Speaker 1: big an increase are we going to see for quick books?

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Speaker 1: Can you give us a sort of level revenue indeed

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Speaker 1: a natural price point?

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Speaker 2: Yeah, sure.

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Speaker 3: I mean, first of all, I would start by saying

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Speaker 3: that we've had significant innovation on our platform in the

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Speaker 3: last year across all of the elements of our platform,

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Speaker 3: whether it's the ability to be able to fuel your success,

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Speaker 3: drive your revenue growth or profitability, and or having our

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Speaker 3: experts to help you run your business as a small business.

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Speaker 3: And we always price for value, and so this is

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Speaker 3: very much sort of in line with our pricing strategy

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Speaker 3: and our pricing principles, where we are raising prices all

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Speaker 3: the way from those that today start out to fuel

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Speaker 3: their success as a small business and follow their passion

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Speaker 3: to mid market customers. And we've gotten great feedback relative

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Speaker 3: to the innovations that we've delivered in the last year,

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Speaker 3: and we're just simply pricing for value and we're excited

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Speaker 3: about the possibilities.

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Speaker 4: I just want to talk about Mint because there was

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Speaker 4: a lot of sadness when you guys shut Mint down,

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Speaker 4: and I'm wondering if you've seen those customers move over

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Speaker 4: to Credit harmas products.

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Speaker 2: Yeah.

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Speaker 3: Well, first of all, I'll start with what Mint actually

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Speaker 3: who had served it served what we call prime customers,

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Speaker 3: those that generally have credit scores above seven hundred. And

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Speaker 3: when we thought about our vision as a consumer platform,

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Speaker 3: we want to have a self driving platform where we

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Speaker 3: can serve you early on in your life to help

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Speaker 3: you build your credit all the way to how you

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Speaker 3: build wealth over time. And so given that vision, we

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Speaker 3: actually brought Mint and Credit Karma together so we can

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Speaker 3: serve all of our customers, from those that need to

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Speaker 3: build credit to those that have great credit scores but

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Speaker 3: also have different needs, all on one platform. We actually

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Speaker 3: had more than what we had assumed convert to Credit Karma.

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Speaker 3: In fact, the majority of our customers converted to Credit Karma,

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Speaker 3: particularly because of all the capabilities that we have on

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Speaker 3: Credit Karma to be able to serve our prime customers.

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Speaker 2: There are a.

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Speaker 3: Very small cord of customers that did not convert. These

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Speaker 3: are customers that really their love is budgeting tools, budgeting goals,

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Speaker 3: and those are some of the capabilities that over time

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Speaker 3: we're building in credit Karma, but.

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Speaker 2: Are not available today.

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Speaker 3: I would tell you some cord of customers were very

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Speaker 3: sad that Mint went away, but actually the majority of

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Speaker 3: our customers are delighted to be on credit Carma.

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Speaker 1: Now I'm going to ask him off set whether he's

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Speaker 1: delighted or heartbroken, but I'm interesting ss on. Lastly, we

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Speaker 1: did just get some recent news out.

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Speaker 2: Of the IR.

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Speaker 1: Yes, basically, there's going to be a free tool the

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Speaker 1: US government, in particular supporting Americans who want the option

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Speaker 1: to file directly with the IRS as ultimately to be

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Speaker 1: in charge of their own taxes.

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Speaker 2: Is this going to be a competitive threat?

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Speaker 1: Are you going to lose people to this free tool?

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Speaker 3: I mean, as short answer is no, because free is

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Speaker 3: already available to all Americans today, and so with what

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Speaker 3: the IRS has launched, it's just yet another free tool.

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Speaker 3: So it is not a threat to us because freees

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Speaker 3: are already available across all private companies. We also don't

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Speaker 3: believe that it's the best use of government money to

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Speaker 3: come out with another tool that's free where free is

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Speaker 3: already available.

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Speaker 2: It's not the best use of money.

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Speaker 3: We'd love to see more money go towards the service

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Speaker 3: that the IRS provides to take very good care of

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Speaker 3: the citizens. But nevertheless, as far as the threat for us,

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Speaker 3: it really.

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Speaker 4: Is not into its CEO. Soasan Ga Darzi Sossan, thanks

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Speaker 4: so much for joining us.

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Speaker 2: Appreciate it. Thank you for having me