As technology moves ever forward, the use of AI and machine learning tools within accountancy is on the rise, with continual developments being made.
By Sarah Hardy
Xero recently announced their new JAX tool (short for Just Ask Xero) which adds a whole new layer of support for clients, accountants and bookkeepers alike. It will be available for Beta testing in August too, so not long to wait!
JAX is an AI smart business companion – it will be interactive and capable of turning time-consuming tasks into quick and easy processes with apps and devices that we all use on a daily basis. Via text, WhatsApp, emails and others, it will be capable of generating invoices, editing quotes, paying bills and much more, from a few simple instructions. It will also be able to assist with checks and controls and provide enhanced business performance insights.
Xero have also recently introduced a GenAI powered help content, which is available inside the product and gives faster and more accurate answers to questions. As well as this they have introduced an AI powered setup guide for onboarding new users into Xero too. This greatly helps new users as they learn the software and gives them more insight into their business data and trends. This in turn allows them to spend more time on their chargeable work as well as allowing advisors to dedicate more time to the valuable advisory work from the real time data available.
JAX will be like having an assistant at your beck and call whenever you need it and I can’t wait to try it out. Other various AI tools can also help with marketing, customer service and so much more too. Some concern over data accuracy and integrity exist (as does generally happen with any new development) however there are multiple layers of security and protection on the data to ensure the integrity of the data is retained, and the more AI is used, the more it learns and so accuracy improves rapidly too.
For more information, please contact me, Sarah Hardy on s.hardy@uhy-rossbrooke.com, or your usual UHY adviser.
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