Intelligent Automation of Invoice Reconciliation

Executive Summary Around 13 billion invoices were sent in the United States in 2019 from businesses to each other and to government agencies. To remit these invoices, firms primarily used manual labor to extract and reconcile relevant fields, which cost them around 2% of invoice value and 25-30 minutes of accountants’ time. Despite this cost, …

Resolving the COBOL Crisis with Artificial Intelligence

Executive Summary COBOL is a 61-year old computer language for processing data. Although highly inefficient by modern standards, millions of COBOL programs remain pervasive in government and industry and are responsible for transactions worth three trillion dollars. Recreating them in contemporary computer languages is extremely time consuming, laborious, and expensive. Also, there is an acute …

Resurgence of Artificial Intelligence During 1983-2010

Prologue Every decade seems to have its technological buzzwords: we had personal computers in 1980s; Internet and worldwide web in 1990s; smart phones and social media in 2000s; and Artificial Intelligence (AI) and Machine Learning in this decade. However, the field of AI is 67 years old and this is the second of a series …

The Current Hype Cycle in Artificial Intelligence

Prologue Every decade seems to have its technological buzzwords: we had personal computers in 1980s; Internet and worldwide web in 1990s; smart phones and social media in 2000s; and Artificial Intelligence (AI) and Machine Learning in this decade. However, the field of AI is 67 years old and this is the third in a series …

Domains in Which Artificial Intelligence is Rivaling Humans

Prologue Every decade seems to have its technological buzzwords: we had personal computers in 1980s; Internet and worldwide web in 1990s; smart phones and social media in 2000s; and Artificial Intelligence (AI) and Machine Learning in this decade. However, the field of AI is 67 years old and this is the third in a series …