Posted 2/1/2024, 7:40:26 PM
Investors Bet on AI to Automate Accounting Tasks, With Startups Like DataSnipper Reaching $1B Valuations
- Investors are pouring money into startups using AI to automate accounting, auditing, bookkeeping, and taxes
- DataSnipper recently raised $100M at a $1B valuation for its audit automation software
- Many new companies focus on helping freelancers and solopreneurs with accounting needs
- The accounting industry brings in enormous revenue - the Big Four firms had almost $190B in 2022
- As AI advances, more repetitive accounting tasks could be automated, though complex finances may still require human help