Xero, the leading accounting software, has introduced an AI system via its partnership with OpenAI at the Xerocon event in Brisbane. The updated Just Ask Xero (JAX) aims to automate repetitive tasks like data entry and bank reconciliation, enabling accountants to focus on more valuable insights. Users can interact with JAX through a chat interface, gaining access to cash flow insights and external information, such as industry benchmarks and tax regulations, directly within the Xero platform.
Xero emphasizes that its AI tools are designed to enhance, not replace, human roles, as noted by global chief strategy officer Angad Soin. The goal is to shift away from mundane tasks while preserving the crucial advisory roles accountants provide. Additionally, Xero plans to launch a customizable hub for practice management and new payment options. The rollout for Australian users starts in September, with an expansion to the U.S. following.
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