Excited about automation!
Whether it’s NLP, NLG, Machine Learning or any other of the plethora of AI (Artificial Intelligence) concepts shaping business today, let’s not be scared!
After all, our society already thrives on technological innovation — old Sony Ericsson & Nokia phones were disrupted by the introduction of smartphones and their app ecosystems — that continues to drive further innovation with services such as Siri and Virtual Reality apps. AI and NLG are simply natural evolutions that will become as ubiquitous as your iPhone.
Sharon Daniels, CEO of Arria PLC in the U.K. reminds us that “The best and brightest will be free to innovate…” and it’s clear that the last decade has seen an acceleration of this, in numerous technological spheres.
In my space, I’m excited about the innovation in accountancy & financial reporting, the convergence with investment analysis & wealth management, and the automation of all of the above. As per the graph below (from Gil Press in Forbes), NLG is just beginning its emergence and at the forefront of growth.
Recount (currently live in the U.K.) is an AI Financial Analysis & Reporting tool that writes actionable financial reports — in seconds. The financial dashboard space is becoming quite crowded, so too the add-ons available to modern accounting systems; giving fancy summaries, graphs and tables. Recount is so much less than that, but so much more! There are products out there that attach to your accounting books and provide detail, colour and so-called “expertise” in their pretty tables & graphs, with traditional accountants relishing the new possibilities of deciphering them to their clients, whilst billing by the hour!
Recount’s strengths are in its simplicity. AI-led data interrogation and NLG-driven report writing in clear, concise and succinct language articulates your business’ fundamentals as a snapshot-with-depth. See the numbers, read the reports, understand the key variances. How and why has the Balance Sheet moved? What’s driving my Profit-&-Loss between periods? And how’s my liquidity placed for my impending financial obligations?
BOOM! Morning coffee, an easy read and we’re on our way! A handy piece of technology that explains the status of your finances. Far simpler than asking your accountant to explain things…