machine learning is a form of artificial
intelligence where automation increases
through experience and by the use of
data
in finance it typically means using
statistical models to make predictions
on possible outcomes or to improve
forecasting
in due app we use machine learning to
improve automation by suggesting the
probable workflow paths and the correct
coding
machine learning assists also with po
matching and analyzes the figures in
reporting
here's an example i have machine
learning predicting first the workflow
based on the captured invoice metadata
like vendor dates and keywords
it checks the vendor invoice history for
the possible patterns and then
calculates the probability of different
routes of approvers the invoice might
travel
you see here when i change the coding to
machine learning suggested the
prediction of the workflow changes
this is logical as people usually
represent different departments and cost
centers
so the coding prediction also changes
accordingly
you can also set a probability threshold
so that after 90 probability the
suggestion is applied automatically and
ap doesn't have to set the suggestion
coding predictions are not only
one-liners but they might be complex and
include multi-line predictions
taking into account the invoice details
and history
after applying the machine learning
suggestion you can still do changes and
fine-tune it before sending it out
do app learns the changes automatically
and next time it'll be even better