Estimated reading time: 1 minute, 11 seconds

EVERYBODY DOES AI Featured

Nancy McKinstry, Wolters KluwerXero has automated codes in its cloud accounting software. The system applies machining learning to have the system teach itself what codes to apply to invoices. That announcement went out this week and it’s clear that most software companies are on the AI bandwagon.

As this publication reports, the Sage Business Cloud utilizes machine learning and artificial intelligence. On the tax and accounting side, Wolters Kluwer, which owns the CCH product line, currently leads its home page with a white paper "An Introduction to Artificial Intelligence: AI, UX & The Human Expert", noting the company’s CEO Nancy McKinstry has said AI has moved from the incubator stage to the real world. The paper also notes the phrase is also at “peak hype”. Bloomberg, whose Bloomberg BNA is an important player in the tax researcher field, just released Points of Law through Bloomberg Law, an application which utilizes AI to accelerate case law research. In fact, you’d have to think the research tools should be a place where AI will have one of the quickest practical impacts by reshaping search technology. You may remember this year when H&R Block teamed with IBM to utilize the latter’s Watson supercomputer to find deductions in 1040EZ returns. I don’t know just how much of that firepower is needed for basic returns but it got Block a lot of attention. And the fuse was lit for AI.

Read 1426 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.