Fintech trailblazer continues reimagining the constructing blocks of small-business finance, letting AI deal with the tedium
SAN FRANCISCO, June 22, 2023 /PRNewswire/ — Digits, the award-winning producer of small-business finance workflow software program, right this moment broadcasts a breakthrough within the software of generative AI fashions to enterprise finance, and the launch of Digits AI: the world’s first safe, correct, business-specific finance AI.
Digits AI empowers enterprise homeowners, accountants, and finance groups with real-time monetary planning and evaluation, insights, and highly effective visualizations – all accessed via a easy conversational interface. The superior know-how saves hours that may be spent configuring and operating reviews, exporting information to CSV or Excel, and managing difficult fashions. For the primary time, solutions to key questions like “What’s my burn fee?”, “Who have been my prime 5 clients final month?” and “How a lot has my enterprise spent on advertising to this point this yr?” are at a small enterprise proprietor’s fingertips – with accompanying visuals to drop into shows or investor updates.
“ChatGPT has captured the world’s consideration, however its shortcomings considerably restrict its usefulness in enterprise finance,” mentioned CEO Jeff Seibert, “Financials are among the many most delicate information a enterprise has, and monetary evaluation is extremely math-intensive—each reply should be right. For AI to play a helpful function, it should be custom-trained to reply monetary questions, it should be rock-solid at math, and it should have safe, encrypted, siloed entry to a enterprise’s full monetary historical past. We’re the primary on the planet to realize all three. Digits AI is the way forward for enterprise finance.”
Deep Monetary Experience
With over 5 years of expertise constructing finance software program, Digits has educated its next-generation AI on over $300 Billion in small-business transaction quantity booked in full double-entry cash- and accrual-basis accounting. This provides Digits AI an unprecedented understanding of enterprise finance and monetary modeling. Digits AI connects securely to QuickBooks and over 10,000 monetary establishments, giving it transaction-level understanding of a enterprise’s complete monetary historical past, with no context limits or token constraints.
Reaching 100% Correct Math
Generative AI fashions are good at artistic pursuits however notoriously weak at fact-based workouts and math particularly. Digits AI combines the facility of huge language fashions with a brand new, proprietary monetary modeling engine and custom-designed question language that’s each simpler to translate and extra expressive than conventional SQL-based approaches. This permits Digits AI to know the person’s intent and request computations with out realizing the information’s underlying schema or encryption keys, whereas delivering 100% correct responses to each request.
Bringing Financial institution-grade Safety to Massive Language Fashions
Digits has pioneered a three-tier structure to guard buyer information. On the base lies Digits’ new, proprietary monetary modeling engine. Buyer information is encrypted at relaxation utilizing AES-256, with object encryption keys protected by way of superior methods like per-secret envelope encryption, and is siloed business-by-business, by no means leaving the safe confines of Digits’ US-based infrastructure. On the second tier, Digits AI leverages custom-trained, proprietary deep-learning fashions to know the distinctive attributes of small-business finance and double-entry accounting. On the third tier, Digits AI interacts with public LLM APIs utilizing solely anonymized and obfuscated buyer identifiers. At no level is uncooked buyer information ever uncovered to third-party fashions or methods.
“At Digits, we have now years of expertise coaching and deploying machine studying fashions in manufacturing for monetary purposes,” mentioned Hannes Hapke, machine studying engineer at Digits, Google Developer Knowledgeable for Machine Studying, and co-author of O’Reilly’s Constructing Machine Studying Pipelines. “What makes Digits AI so particular is that we have mixed the strengths of generative pure language interplay, the intelligence of highly-trained similarity fashions, and the accuracy of our new monetary modeling engine right into a single, built-in resolution.”
By placing AI at enterprise homeowners’ fingertips and guaranteeing safety of monetary info, Digits is overhauling an outdated approach of doing enterprise.
Digits AI is obtainable right this moment at www.digits.com.
About Digits
Digits is on a mission to automate enterprise finance with superior AI, tackling the tedium that plagues enterprise homeowners, finance groups, and accountants all over the world. Based in 2018, Digits has revolutionized the strategy to accounting with a set of merchandise saving money and time with reside interactive reviews and automatic bookkeeping instruments.
Backed by the world’s greatest traders, together with Benchmark, GV, and Softbank, Digits has obtained notable award recognition from Quick Firm’s Most Modern Firms for 2023, Inc.’s Inaugural Energy Associate Awards, Globee Disruptor Awards for 2023 and Stevie American Enterprise Awards for 2023. Be taught extra at http://www.digits.com.
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