The advent of generative artificial intelligence (GenAI) presents a promising opportunity to revolutionize the field of transfer pricing. This article explores the practical applications and challenges of operationalizing GenAI in transfer pricing, offering insights into how this cutting-edge technology can be leveraged to address the unique demands of the industry. From the set-up of private GenAI tools to the credibility and security of AI-generated outputs, this comprehensive analysis provides a roadmap for tax professionals looking to harness the power of GenAI in their practice.