Basware, a global leader in AP automation and invoice processing, has announced the appointments of Anssi Ruokonen as its Director of AI Research and Enablement, and Barrett Schiwitz as its new Chief Information Officer (CIO).

Ruokonen will further enhance AI technology within Basware’s product and service offering, while Schiwitz will oversee Basware’s digital transformation projects to deliver an ever-improving customer experience.

Generative AI has the potential to generate upwards of $4.4 trillion across all industries, according to McKinsey. Basware’s AI strategy is centered around expanding its innovation lead within its product offering and doing better with its customer experience.

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The company is already utilizing AI through its SmartPDF system which automates the conversion of machine-readable PDFs to e-invoices with over 97 per cent accuracy, removing the need for outdated manual processes. Last year, Basware also teamed up with Microsoft to announce the use of ChatGPT within its customer support function, called AskMary.

Ruokonen will lead Basware‘s AI development, shaping the company’s strategy, research and approach to AI, implementing AI technology to optimize Basware’s product offering and enhance operations across the business. He joins from AI firm Fluentic where he served as Chief Product Officer.

Ruokonen will be based in Helsinki, Finland and be part of Basware’s Products, Cloud Engineering & Operations (PCE&O) function.

SOURCE: PRNewsWire