Accounting services and related areas in the US is a multi-100 billion dollar industry which has been traditionally dominated by a duopoly model where Native American CPAs combined with offshore services firms in India, Philippines and other low cost destinations.
AI is ready to disrupt this industry and do so in a big way.
The good news is that many Indian-origin founders are building startups in this space which will see billions of dollars outcomes at scale in the next decade.
Few names that come to my mind:
@maxima_dot_ai@maximor_ai@FinrepAI@GrowfinApp
We are still getting started and sky is the limit. There could be many more in the making. 💪🏽
Portfolio examples
We are already seeing this happen:
@FinrepAI - automating reporting between the CFO office and SEC.
@nanonets - deploying AI workflows at the edge of large orgs, spanning systems never designed to talk to each other
~2 years at @FinrepAI
built a lot, but one thing that keeps coming up is this: problems that look solved usually are not.
pdf search was one of those. looks fine until you deal with 1000+ page documents. most solutions are heavy, expensive, or just not built for real product usage.
we stepped back and rethought it end-to-end. got it from ~60 seconds to ~50ms.
wrote about it:
https://t.co/p3a6pbVYPH
Why Technical Accountants And SEC Reporting Professionals Should Adapt To AI Early And How To Do It Right https://t.co/oKKAvfVE50 Written by @gmisrag of @finrepai