Easing the Expense Report Blues: Microsoft & Amex Tap AI for Smarter Solutions
Feb. 10, 2023.
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Expense reports are a tedious and time-consuming task, but AI may change that. Microsoft and American Express have partnered to leverage Microsoft Cloud and AI technologies to improve expense report management. The solution, which is built in-house by Amex, will automate expense reporting and approvals by using machine learning and an AI-powered decision engine that understands the company’s travel and expense policy. The system will use an employee’s purchase and payment history to categorize and assign a risk score to individual transactions, which can then be automatically approved. Microsoft will be the first to test the solution and later integrate it with its own internal expense system. Although there is skepticism about the accuracy of AI-powered solutions, the technology is quickly advancing in the financial services and corporate travel industry.
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