Xero’s AI Assistant, JAX: A New Era for Small Business Accounting

Xero, a leading cloud-based accounting platform, is set to redefine small business finance with its groundbreaking AI assistant, Just Ask Xero (JAX). Unveiled at the company’s inaugural Investor Day, JAX harnesses the power of generative AI to automate complex accounting tasks, providing small business owners with unprecedented control and insight over their finances.

How JAX works

JAX is designed to be an intuitive and accessible tool that interacts with users through familiar platforms like mobile, email, and WhatsApp. By using natural language commands, business owners can effortlessly generate invoices, edit quotes, and manage bills. This voice-command capability not only saves time but also significantly reduces the risk of human error.

Beyond automation

JAX’s capabilities extend far beyond basic task automation. The AI assistant can anticipate and automate follow-up actions, such as sending payment reminders and generating cash flow projections. This proactive approach helps businesses stay on top of their finances and make data-driven decisions.

Moreover, JAX offers personalised financial insights tailored to each business’s unique needs. By providing detailed cash flow forecasts and other critical financial metrics, JAX empowers business owners to make informed decisions about their operations.

A proven track record

Xero’s commitment to AI has already yielded impressive results. The company’s existing AI tools have reduced customer search times by 40% and decreased support requests by 20%. These efficiency gains demonstrate the potential of AI to streamline the accounting process and enhance the overall user experience.

The Future of Accounting

JAX is scheduled for a wider release later in 2024, marking a significant milestone in the evolution of accounting software. As AI continues to advance, it is clear that the accounting industry is moving towards a future where automation, personalisation, and data-driven insights are the norm.

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