Expex had our first summer intern this year. Minnie is a college student and has been instrumental in doing some research for us among QuickBooks users and how they perform bookkeeping and accounting tasks, specifically in terms of applications.
Minnie has spent a great deal of time understanding expex and the impact artificial intelligence has on the finance world. She wrote the blog post below. Happy Reading!
With technology advancing everyday it is important for small businesses to adapt and use this new technology in a safe and profitable way. Integrating computers to perform functions that were once thought only humans could be capable of doing could be critical in saving both time and money in your small business. The most well-known forms of artificial intelligence are the digital assistants like Siri for the iPhone or Bixby for Galaxy phones. These digital assistants can make work faster and easier by being programmed to respond to clients in an appropriate manner at any time. With the ability to respond at any time these assistants could help your small business immensely.
In terms of finance, artificial intelligence can be used to recommend techniques to lower business expenses, predict potential cash flows affecting your business, or even automate bill payments. Utilizing all these apps in an effective way could decrease wasted time and increase profit. One specific way artificial intelligence can help your small business financially is to assist in managing your portfolio in a profitable way. Entering financial goals and current assets into financial applications can be helpful in being notified to any losses in your business, profits in your business, or even alerts to missed payments. Getting instant access to your businesses finances and real time advice can help your business in many ways.
In any type of business artificial intelligence could be used to help your company. Having all of your financial records in one place like your businesses assets, liabilities, losses, revenue, etc. can be very beneficial in properly analyzing your finances. Even incorporating the smallest amount of artificial intelligence into your business can be helpful. With constant advancements and new discoveries being founded in terms of artificial intelligence the possibilities seem endless on the advantages AI can bring to your business.
If want to learn more, give us a shout out. We’d love to chat with you and show you what we’ve got.