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How AI can change the economy
There is probably no question that AI will have a very significant impact on business and society. According to a survey of around 600 companies in Germany conducted by the ITC association Bitkom, this is set to happen faster than expected: 15 percent of respondents already see an…
Improvement: Digital Archiving with AI
Digital archiving has become a preferred method of document storage in companies and organizations. This practice involves archiving frequently accessed documents, as well as important contractual and other business-related documents that need to be stored due to legal regulations and may need to be presented if necessary. Advantages…
How AI affects resource planning in companies
ERP solutions are central applications in the company that link all crucial business processes in a unified IT system. This enables the planning of resource utilization such as personnel, financial resources, inventory, plant utilization, etc., and the management of processes such as the processing of offers, orders, purchases,…
China, EU, USA: Who stands where in artificial intelligence and why?
In one of the previous blog posts, we mentioned that according to the Bitkom survey on the status of AI in companies from the summer of 2022, Germany has fallen behind the USA, China and Japan in the view of the respondents and is unlikely to catch up…
What is holding back AI development
Artificial intelligence is considered a key technology of the 21st century with enormous potential for productivity growth and economic growth. The German government has recognized the importance of AI, presented an AI strategy for Germany in 2018 and updated it in 2020 with the aim of “strengthening Germany…
AI in the EU: Artificial Intelligence Regulation
Like other technologies, the use of Artificial Intelligence has two sides: It can be used to support and help people, for example with precise medical diagnostics, but also to manipulate or discriminate against individuals or social groups. The development and use of AI thus not only concern aspects…
Letting the machine learn: Translating with Deep Learning
In one of our previous blogposts, we had briefly touched on how artificial intelligence learns, mentioning Deep Learning. As a reminder, Deep Learning learns and makes decisions using something called a neural network. Neural networks are a very crude replica of the human brain and the way human…
TEXT RECOGNITION: WHAT IS THE DIFFERENCE BETWEEN OCR AND ICR?
Digitization in the corporate back office starts with text recognition. In many companies, invoices, delivery bills, applications and other documents come into the company in paper form. In order for the information from these receipts and documents to be used in data processing, it must be manually captured…
Intelligent Document Processing: The communications challenges and how companies can solve them
For new implemented technologies in companies, the prerequisites must first be created. On the one hand, these are technical prerequisites; on the other hand, it is a matter of preparing the people in the company and, if necessary, other potentially affected parties in the environment for the use of…
Artificial Intelligence in Accounting
Most people associate accounting and the tasks that need to be done there with boring, tedious routine work. But this perception could change rapidly, because the very repetitive activities that are responsible for this image of accounting predestine it for AI-supported workflows. In this way, accounting can become…