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Lili launches Accountant AI to streamline finances for small and medium-sized businesses
By Delisha Fernandes
Today
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- AI Accountant
- Amazon
Lili, the financial platform designed for small business owners, announced the launch of a new generative AI tool – AI Accountant.
The generative AI tool leverages companies’ financial data and the latest industry insights to provide business owners with instant, personalized recommendations on their business’ finances.
“Nearly eighty percent of business owners handle their own accounting and finances, which can be a heavy burden to bear on top of managing all of the day-to-day operations of a business,” he said. Lilac Bar David, co-founder and CEO of Lili. “Accounting AI will revolutionize the way business owners interact with their financial data, providing them with quick, more accessible answers to all their accounting and financial questions. For business owners who can’t afford an accountant or more expensive accounting tools, Accountant AI is a game changer.”
Business owners, especially those running smaller operations, often manage their finances without outside help like an accountant or bookkeeper. This approach is not only time-consuming, but can also put companies at risk of costly mistakes. With Accountant AI, small business owners will now have access to an AI-powered business advisor, enabling them to make more informed business decisions and become more profitable.
Accountant AI responds to queries using its extensive training and the latest tax and accounting information, but unlike other AI chatbots on the market, it generates insights from both the owner’s business and similar businesses on Lili’s platform, makes recommendations based on the latest tax policy updates and leverages human accounting expertise. Lili has also partnered with Amazon Bedrock to ensure Accountant AI has robust privacy and security measures in place to keep companies’ data safe from potential leaks or misuse.
Accountant AI is the next generation of Lili AI, the first AI accountant designed specifically for small business owners, launched last August. The first phase of Lili AI introduced predictive transaction categorization for Lili Smart Accounting, helping business owners spend less time manually classifying transactions for their taxes.
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