Abstract: Experimental analyses during the high-luminosity era of the Large Hadron Collider will call for an unprecedented level of precision in event simulation. With the computation of hard cross sections at next-to-leading order accuracy a solved problem, the focus of development has now shifted toward automated precision resummation (i.e., the extension of parton showers to next-to-leading order accuracy and beyond the leading-color approximation). At the same time, seemingly mundane problems such as the consistent matching of four- and five-flavor calculations at next-to-leading order accuracy need to be tackled to make precision forecasts for the measurement of b-jet associated processes such as ttbb. I will discuss the theoretical foundations and practical implications of new algorithms that solve these problems and briefly touch on the readiness of event generators for the next-generation high-performance computers.