English financial tech company builds AI app that creates virtual accountant

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A North-East fintech company is using artificial intelligence (AI) and speech recognition software to allow users to discuss their financial accounts with their phone.

Darlington-based MyFirmsApp creates custom app platforms for accountants and has recently secured the right to use next generation AI platform, Amazon Lex.

The software will allow the company to build apps with ‘human-like intelligence’ that can see, hear, speak, understand and interact with the world around them. The new tech will allow accountants and their customers to have a conversational experience when using their app.

CEO Joel Oliver believes that being able to create chat bots using Amazon Lex will help accountants carry out simple tasks and allow them to become more productive.

He said: “AI is an exciting prospect for accountants as it will effectively add another member to the team that is available 24/7 to answer multiple questions and carry out simple tasks.

“This ‘virtual’ member of staff will help the accountant retain trusted advisor status by being available at all times.”

MyFirmsApp designs custom apps that feature accounting information, tax calculators, marketing tools and real time data collection.

The firm has over 750 clients and has rolled its software out internationally across Australia, South Africa, the US, and Ireland. Its apps are available in eight countries and have been downloaded over 200,000 times.

Read the source article at Chronicle Live.