Digits, the award-winning producer of small-business finance workflow software, announces a breakthrough in the application of generative AI models to business finance, and the launch of Digits AI: the world’s first secure, accurate, business-specific finance AI.
Digits AI empowers business owners, accountants, and finance teams with real-time financial planning and analysis, insights, and powerful visualizations – all accessed through a simple conversational interface. The advanced technology saves hours that would be spent configuring and running reports, exporting data to CSV or Excel, and managing complicated models. For the first time, answers to key questions like “What is my burn rate?”, “Who were my top five customers last month?” and “How much has my business spent on marketing so far this year?” are at a small business owner’s fingertips – with accompanying visuals to drop into presentations or investor updates.
“ChatGPT has captured the world’s attention, but its shortcomings significantly limit its usefulness in business finance,” said CEO Jeff Seibert, “Financials are among the most sensitive data a business has, and financial analysis is highly math-intensive—every answer must be correct. For AI to play a useful role, it must be custom-trained to answer financial questions, it must be rock-solid at math, and it must have secure, encrypted, siloed access to a business’s complete financial history. We are the first in the world to achieve all three. Digits AI is the future of business finance.”
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Deep Financial Expertise
With over five years of experience building finance software, Digits has trained its next-generation AI on over $300 Billion in small-business transaction volume booked in full double-entry cash- and accrual-basis accounting. This gives Digits AI an unprecedented understanding of business finance and financial modeling. Digits AI connects securely to QuickBooks and over 10,000 financial institutions, giving it transaction-level understanding of a business’s entire financial history, with no context limits or token constraints.
Achieving 100% Accurate Math
Generative AI models are brilliant at creative pursuits but notoriously weak at fact-based exercises and math in particular. Digits AI combines the power of large language models with a new, proprietary financial modeling engine and custom-designed query language that is both easier to translate and more expressive than traditional SQL-based approaches. This allows Digits AI to understand the user’s intent and request computations without knowing the data’s underlying schema or encryption keys, while delivering 100% accurate responses to every request.
SOURCE: PRNewswire