According to a current survey by the digital association Bitkom, a large majority of the population sees artificial intelligence (AI) as an opportunity. And companies also see numerous advantages in using AI technologies - according to the results of another Bitkom survey. This primarily includes process optimization and the elimination of monotonous work for employees.
What is artificial intelligence?
Artificial intelligence is being used in more and more software products. Example: An optical character recognition (OCR) solution reads data from documents. However, the software does not yet “know” what information is hidden behind it, for example that a number after the term “invoice amount” represents the invoice total. In order to transform data into knowledge, this is exactly where artificial intelligence comes into play. It contains the necessary algorithms to achieve this transfer.
GetMyInvoices users appreciate this. You don’t need to type out billing information as the integrated solution fintract The data is reliably extracted using OCR and recognized 90 percent correctly based on AI. This means that not only all documents, but also the structured information they contain are in one place. From there they can be accessed without any manual effort in common accounting software and other applications for automated processing transmitted.
Colleague robot, please take over!
The use of AI technologies often goes hand in hand with the use of Robotic Process Automation (RPA) applications. The RPA approach is reminiscent of automated production, which is common practice in manufacturing companies. Robots replace people there and take over the assembly of systems, machines or vehicles. However, with RPA there is no robot present in everyday office life. Rather, software solutions are used that “look over people’s shoulders” and thus learn from their work processes. The goal here is also to automate routine activities.
In order for this to be achieved, two conditions must be met. On the one hand, it is necessary that the processes are standardized, recurring, and on the other hand, the data must be available in a structured manner. This is the only way RPA solutions can clearly assign this information and take on recurring, stupid routine tasks. Human intervention is only necessary in exceptional cases (keyword: dark processing).
This is exactly what we have successfully implemented in GetMyInvoices. Our AI-based OCR ensures that invoice information is structured so that it can be automatically posted using RPA technologies. Our banking module also automatically assigns invoices to account transactions. Another RPA example is collecting invoices from email inboxes. To do this, our system uses machine learning and intelligent algorithms to identify invoices and automatically import them into GetMyInvoices. You can learn how to integrate RPA into your company here read up.
Wherever there is AI, RPA is not far away
In summary, AI and RPA technologies can achieve the same goals. This includes:
If both technologies are used together, they can fully exploit their potential and make a significant contribution to the company’s success.
