An interesting article that says the right things for the most part. In the section about allowing AI more latitude than a straight “Zero-tolerance for errors”. While this is an interesting concept, in practice many accounting systems require either a perfect match, line by line or an adjustment must be made to create the match. Supporting the reluctance to “hand over the keys” completely.

By GUEST CONTRIBUTOR – From the fiction of ‘WOPR’ in the 1980s film “War Games” to the terrifyingly real almost-apocalypse of 1983’s Soviet nuclear false alarm incident, humanity has plenty of reasons to be fearful of the consequences of putting computers in charge. Perhaps that explains our wariness of ceding control to artificial intelligence (AI) in a host of much more run-of-the-mill processes.

But this reluctance to hand over the keys — of a self-driving car, a business or even missile silo — betrays a fundamental misunderstanding of how AI is designed to work. Too often AI is presented as it is in dystopian fiction, as an overlord, when it’s actually more like a workhorse, and a highly effective one.

Change your mindset, forget about relinquishing complete control, and you’ll soon discover that AI can give you a competitive advantage in areas of your business you barely gave a moment’s thought to before, like the sometimes unglamorous world of invoice processing.

One might be forgiven for not getting overly excited about the intricacies of invoicing, but that’s precisely the point. Processing invoices is a time-consuming and repetitive task. It’s also notoriously prone to mistakes and human error that require manual review and reprocessing for reasons ranging from a mismatch between invoice and purchase order (PO), to errors with invoice coding. Accounts Payable (AP) teams currently spend around a quarter of their time chasing and correcting errors. Even the most dyed-in-the-wool data entry clerk will tell you there are more valuable things they could be doing with their time. Read On: