A short transcript excerpt from a YouTube video by Chris Larsen (April 2025) in which two speakers discuss applications of AI in accounting, notably transaction matching and expense automation. Speaker B notes these capabilities have existed in earlier, lighter forms for about ten years and cites vendors like Bill.com as early examples; the conversation frames AI as a way to enable scaling and cost reductions but observes many people still lack such tools.
So what are you seeing on, on the accounting on the financial side in terms of, of AI and how that can help with some of the scaling and cost reductions?
One, when people ask me this question, oh, it's been there for a while in lighter forms, right? So a lot of the transaction matching and things that have been going on really, for maybe even 10 years, going back to early versions of folks I know, Bill.com, which is now Bill, and different expense card automation tools. They're, they're their data and they're saying, okay, well, if you went to this restaurant or you went to this, you spent on this product, 97.2% of all businesses in our system, you know, here, or put it to this account, we're going to default it to that account. And then again, the accountant's job is to come in and make that change. And then usually once you do that once for that vendor, it's done forever, unless you need to put it like to a job code or like a system. And so that's been around for a long time. So I think what's crazy is most people have not a lot of those tools. And that's, that's what we'll, we'll start with. We'll say let's, let's get the cases.
