Vic.ai Explores AI In Accounts Payable

Artificial intelligence (AI) continues to make its way throughout the back office, exploring new areas to automate and optimize, freeing up human experts for more strategic initiatives. Today, the standard level of AI in a process like accounts payable (AP) most often appears as a technology that can automatically "read" key documents like invoices and identify and extract important information like supplier and pricing. Alexander T. Hagerup, co-founder and CEO of Vic.ai, recently told PYMNTS that AI has a far greater opportunity in the enterprise, including in AP automation. In an interview, Hagerup discussed his vision for the technology's presence in a notoriously complex and manual area of the back office and considered what the adoption curve may look like as more professionals feel comfortable with technology taking over important actions. As AI technology becomes more sophisticated, some of the most ingrained pain points of AP workflows no longer seem like difficult challenges to overcome.