There are many perceptions regarding artificial intelligence (AI). Some consider AI to be a threat due to horror scenarios presented in films, for example, while others are worried about losing their jobs. Another reason for why people are afraid of AI is simply that they do not know much about it. In this blog, we go through eight frequently asked questions regarding AI and Staria AI solution as well as the benefits it can provide to companies.
1. What is AI and how is it utilized?
The most significant feature of AI is its ability to find repeating patterns and dependencies from large volumes of data. It uses this as a basis to create rules for itself, according to which it can autonomously make corresponding decisions in the future. AI can also learn new rules and make more precise predictions if humans fix any errors it has made and feed the corrected decisions back for the AI to learn. When the machine is able to create the necessary rules through data, humans do not need to program every possible decision that the machine is expected to make.
2. What are the processes that can be automated with the help of AI?
The role of AI in process automation is based on individual, but complex decisions. The AI is fed with the decisions made by humans as well as the source data according to which individual decisions have been made. This trains the AI to make similar decisions as humans would have made based on the source data.
Have you recognized potential processes for automation?
3. What is Staria AI?
Staria has developed a machine learning AI solution called Staria AI, which can post purchase invoices that are received by companies as e-invoices efficiently and precisely. The solution has been developed for use in Staria’s service centres and has been designed to handle large purchase invoice volumes while optimizing the quality of predictions. Staria AI can be integrated with any system that processes purchase invoices.
4. What does utilizing Staria AI involve?
Staria AI project can be roughly divided into five steps:
- Collecting material
- Training the model
- Integrating AI with the process
- Maintenance (continuous)
- Deployment of automated invoice processing
5. How long does Staria AI deployment project take?
Staria AI deployment project usually lasts from three to six weeks. The deployment project schedule is affected by the availability and quality of training material, as well as the flexibility of the existing purchase invoice system.
6. What kind of benefits and results can be expected from Staria AI purchase invoice AI?
The initial benefits of the solution become apparent during deployment, as creating Staria AI involves the analysis of invoice volumes, thus providing insights on the company’s purchase invoices.
Then process of posting purchase invoices changes from specifying posting data to inspecting and approving postings made by the AI.
In the final phase, where the automatic processing of purchase invoices is turned on, approximately 50–70% of purchase invoices can be expected to be automatically directed to inspection and approval without a separate manual posting phase. The best levels of automation can cover over 90% of purchase invoices.
7. What do the Staria AI project costs consist of?
The costs of Staria AI project are formed from the deployment project, as well as maintenance of the AI, i.e. expenses of re-training AI models.
8. How much organization’s resources are required for the AI project?
The deployment of Staria AI purchase invoice AI requires customer organization’s accounting specialists and IT/system specialists.
The role of accounting specialists is to express their opinions on the validity of the available chart of accounts and open cost centers. In addition, if the AI training data includes contradictory information regarding posting methods, the accounting specialists can provide instructions on how the AI should process such contradictory cases in the future.
IT/system specialists are usually required in the deployment project to provide AI training data from existing systems and to implement the processing of purchase invoices to Staria AI server. Specialists may also be required to implement changes to how the purchase invoice processing system scans purchase invoices processed by the AI. In addition, IT/system specialists are usually required to automate the production of feedback material needed for the re-training of Staria AI purchase invoice system.
In terms of time, this usually involves a few days in connection with the deployment project.