YouTube podcast conversation (recorded Sep 27, 2023) about applying AI to expense management. In this excerpt Jim Johnson asks whether AI is used to process receipts and to provide company-level insights. The respondent says they leverage AI in at least two main ways; the first is combining AI with OCR to accurately read and extract data from receipts (including crumpled/poor-quality receipts).
Is there any AI involved with this artificial intelligence that's taking this receipt and doing the things that it does? Like is that a part of what you guys do or is there any kind of reporting that looking across the data that's happening for a company that says hey you could save money here or you could do this there and solve some problems? Have you guys gone down that road at all?
Yeah. So we're definitely leveraging AI as a couple of tech guys can be expected to do in two main ways. Way number one is reading the data on the receipts correctly and that's another thing where we're slightly different than the incumbents that concurs and the expensifies. We leverage AI plus OCR technology to get actual real data even when the receipt is all crumpled. We've all seen them. So we get the correct you stuff it in your pocket and then you owe for the best. We still save the data then. That's one way.
