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How does Truewind balance designing for efficiency in bookkeeping with ensuring correctness and truth when utilizing AI?

Alex Lee

Co-founder & CEO at Truewind

When we look at all the generative AI activity, there's an expectation that it’s not 100%. Even just the other day I was using ChatGPT to search for some examples of companies working with generative AI, and it gave me a bunch of different examples. I tried to search for it on Google and I couldn't find the source. Then I asked ChatGPT, ‘could you provide the source of that?’ And then it said ‘my apologies, I made a mistake,’ and it gave me some new examples.

I will say that’s probably one of the biggest technological risks and one that’s more like a company ethos. We strive to bring efficiency, but recognize at the end of the day, accuracy is the number one priority. Like many of our other friends in the software AI-powered accounting and finance space, there are people involved, and we certainly have people involved, human in the loop, to make sure everything is correct.

Now, that said, there’s another angle to this, which is around design. How do we design our product and the user experience in a way to just increase the transparency of what our customer sees? I think that goes a long way in terms of creating trust, letting them see things themselves and letting them verify if things are correct or not. The text message I described to you where we tell them "Hey, we don't recognize certain transactions.’"

Right above it is "We categorized 25 different transactions, click here to see more." And you can click in, it'll take you to our application, and you'll be able to see your transactions, and what it was categorized as. And it's a very simple click to tell us that it was incorrect, and it'll prompt us to look at it again. I think it's a combination of company ethos and how you operate in making sure you prioritize accuracy no matter what. Then, number two, how do we design the product? How can we be creative and design it in a way to get the user more involved to verify things are correct?

Find this answer in Alex Lee, CEO of Truewind, on the potential of GPT-powered bookkeeping
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