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Experimental analyses during the high-luminosity era of the LHC 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 towards 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 like the consistent matching of four- and five-flavor calculations at next-to-leading order accuracy need to be tackled in order 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.