Wednesday, March 9, 2016

Deloitte To Make Tax Attorneys Redundant With Artificial Intelligence

Via PR Newswire:

Deloitte Forms Alliance with Kira Systems to Drive the Adoption of Artificial Intelligence in the Workplace
Deloitte today announced an alliance with Kira Systems to bring the power of machine learning to the workplace, an innovation that could help free workers from the tedium of reviewing contracts and other documents.  
The alliance combines Deloitte's business insights in cognitive technologies with Kira Systems' advances in machine learning in creating models that quickly "read" thousands of complex documents, extracting and structuring textual information for better analysis. 
This capability holds broad applications for the marketplace, said Craig Muraskin, Deloitte LLP, managing director of Deloitte's U.S.Innovation group, as the extensive review of documents underpins many pressing business activities, including investigations, mergers, contract management and leasing arrangements. 
"Wading through miles of corporate jargon hunting for key words and patterns can consume considerable time and resources," said Muraskin. "By teaming with Kira Systems, we can help organizations reduce their review time while redeploying talent to higher value activities – let's save our eyes for more strategic matters." 
Noah Waisberg, CEO of Kira Systems, said recent innovations by his company, such as Kira Quick Study, are graduating machine learning to new levels of accomplishment. "Artificial intelligence has arrived to a point where machines can scale human expertise by extracting information from complex documents," said Waisberg. "It accurately identifies information by learning from examples versus just reflexively identifying pre-programmed clauses."...MORE
HT: Going Concern's News Roundup