Wading through expense receipts is not everyone’s idea of fun. Today's T&E expense audit typically consists of selecting a random sample of a small percentage of expenses and hoping to catch discrepancies days, weeks, or even months later. Thanks to artificial intelligence software like AppZen, the process of checking receipts and verifying the legitimacy of expenses can now happen in real-time.
In a recent guest post for Corporate Compliance Insights, I discussed some of the significant business benefits that are emerging from advancements in artificial intelligence and NLP (natural language processing) technologies.
The article, “Exploring the Upside of Evolving AI Business Solutions”, addresses the fact that one of the biggest paybacks of incorporating leading-edge AI platforms into the workplace comes in the form of improved governance, risk management, and compliance (GRC). With timely and informed decisions lying at the heart of effective GRC measures, many companies are turning to ultra-fast and highly targeted back-office technology to not only enhance their decision-making processes, but to reduce expenses and expand productivity at the same time.
“It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be” - Isaac Asimov
Artificial Intelligence for Business is Here Today
For years, we’ve lived with the expectation of artificial intelligence, brought forth by science fiction movies and books - of a world where we can live at leisure, our every whim being met by machinery. In terms of robot development there is still much to do to achieve this existence – but one area where artificial intelligence has achieved bigger strides than most people realize is the area of big data, and the ability of machine intelligence to process large amounts of information to streamline and manage the business environment in which we work.
A.I. Companies You Need to Know
The Harvard Business Review (HBR) recently published an article “The Competitive Landscape for Machine Intelligence” where the authors, Shivon Zilis and James Cham, pulled together their list of the most important artificial intelligence companies, to demonstrate the depth and breadth of resources available in artificial intelligence software today. We were honored to be included in their report.
The most surprising thing for many in corporate management, when they begin to investigate artificial intelligence and big data, is the considerable number of options already available across a wide variety of business areas.
Meet New York Times best-selling author Martin Ford and have an opportunity to get a signed copy of his book, Rise of the Robots.