AI in Finance: Challenges and Innovations

In this episode, Freeplay co-founder & CEO, Ian Cairns sits down with Jeff Seibert, co-founder & CEO of Digits to discuss the practical applications of AI in the finance world and the lessons learned from using AI in production.

You can read a full recap with show notes here.

Jeff emphasizes the importance of choosing the right type of AI model for each use case and highlights the limitations of generative AI models. He also shares examples of how AI has improved the product experience at Digits, including predictive models for AI bookkeeping, similarity models for transaction analysis, document extraction models for invoice processing, and autonomous agents for researching unknown transactions. We also dig into the challenges of closing the gap between AI accuracy and human expertise in accounting. Digits uses generative AI to help with transaction categorization and financial reporting. 

Digits is focused on solving customer problems and uses AI as a powerful tool to deliver value. Give the episode a listen and share your feedback!