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People talk about Artificial Intelligence (AI) and Machine Learning (ML) like it’s the best thing since sliced bread, but AI and ML, or more correctly, deep learning, was first introduced to the world way back in 1986 by Geoffrey Hinton. Known as the ‘Father’ of AI and machine learning, Hinton, to really simplify it, discovered it was possible for computer programs to find patterns in data and apply these patterns to new data.
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Business automation has moved ahead at lightning pace over the past couple of decades with technology adding tremendous value to businesses in terms of productivity and profitability. However, one of the key aspects that have got left behind are the Accounts Payable processes. Despite being a mission-critical step, automating invoice processing has been a significant challenge for businesses. Let’s examine why…
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Do you remember when Accounts and Finance teams were staffed with scores of data entry operators? All they were supposed to do was spend incredible amounts of time and effort punching in data from invoices, purchase orders and contracts. Worse still, the data extracted from the documents was often strewn with errors because well – to err is human!
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