Xero, the global small business platform, has introduced its groundbreaking AI-powered smart business companion, Just Ask Xero (JAX), at Xerocon London. This proprietary technology is set to enhance the accuracy of AI in the accounting process and will be available in beta in August, targeting Singaporean small businesses and their advisors.

JAX allows customers and accounting and bookkeeping partners to complete tasks such as generating invoices or editing quotes across Xero or other commonly used apps and devices like mobile, WhatsApp, and email. This tool aims to increase efficiency for small business owners, providing flexibility and seamless access to digital tools.

Meeting the Needs of Small Businesses

Koren Wines, Managing Director for Xero Asia, highlighted the dynamic nature of small business operations: “A day in the life of a small business owner can be frenetic. It often looks very different from one day to the next. As such, they require flexibility in how they work along with seamless access to their digital tools. Xero is meeting this need for small business agility with intelligent AI tools like JAX, ensuring that critical business tasks are available to business owners wherever they are.”

Innovative Technology Enhancing Accuracy

Xero’s new proprietary technology underpins JAX, ensuring greater accuracy than AI models that rely solely on large language models (LLMs). This system ensures that the data fed to the LLMs is task-specific, enhancing reliability. Diya Jolly, Chief Product and Technology Officer for Xero, emphasized the importance of precision in accounting: “In accounting, we can’t make up information. That’s why implementing a technology like this is groundbreaking for the accounting industry. It puts the right guardrails in place around the AI to ensure Xero customers using AI for accounting tasks can trust the precision and accuracy of JAX.”

The technology also enhances data security, aligning with Xero’s platform measures. It ensures that the LLMs only receive user-permitted data, keeping it securely within the platform.

Embracing AI for Business Efficiency

Ken Leong, Director of 361 Degree Consultancy, expressed enthusiasm for JAX: “We’re really excited to inform our customers about Xero’s new AI-powered business tool JAX. These new and intelligent GenAI features have been highly anticipated because with JAX we will be able to respond to our customers much faster.”

Additional GenAI Developments from Xero

Xero also introduced other GenAI features, including:

• AI-Powered Help Content Summaries: Embedded within the Xero platform to provide accurate answers more quickly.
• Generated Answers in Xero Central: These have reduced search times by approximately 40%.
• AI-Powered Setup Guide: Designed for onboarding new users, offering relevant answers and information as they set up their Xero dashboard.

Guides for Embracing AI

To help small businesses and advisors understand and implement AI, Xero has published tailored AI guides. These guides provide updates, practical steps for getting started, and examples of successful AI integration.