When looking for the right AI platform, it can be difficult for an accounting firm to assess the AI technology that is powering each platform.
The following is an excerpt from “How to Select the Right AI Platform for Accounting: A Buyer’s Guide and Comparison Worksheet.”
Make sure that the AI platform you’re considering can take continuous feedback and “loop it” back into its algorithms. This platform feature is often referred to as online learning or continuous learning.
While it can be hard to test up front, you will notice continuous learning when you start using it, because the software that you are interacting with will change and evolve as it incorporates your human feedback, effectively learning from you. The best way to verify this capability is to speak with a reference, preferably an existing customer.
If your company doesn’t have this kind of platform, and another company that you compete with does, that company will be well ahead of your company in a matter of months.
The algorithms and AI platform are trained by your firm’s knowledge and your client’s data. If your firm is unable to put its knowledge and its clients’ knowledge (and all of the related learning) into an AI system, you’re just left with a legacy software package that does little to help you.
AI feedback is critical. When you respond to questions generated by AI, you train the platform to your individual client needs. As you incorporate feedback into your AI platform through day to day work, the AI improves and can handle more tasks and processes for you.
Does your accounting firms still depend on older technology and manual efforts? Share your thoughts in the section for comments below.
To learn more about selecting the right AI platform for accounting that works for you, download your copy of “How to Select the Right AI Platform for Accounting: A Buyer’s Guide and Comparison Worksheet.”