The launch of Black Ore comes at a time when generative AI is becoming a powerful tool for finance departments. The company believes that AI will have a profound impact on the accounting industry and beyond. Meanwhile, other AI applications are being developed, such as OpenAI's low-to-no-code platform for building custom AI-powered chatbots.
Key takeaways:
- AI startup Black Ore has emerged from stealth after raising $60 million in a funding round led by Andreessen Horowitz and Oak HC/FT.
- The company's first product, Tax Autopilot, uses AI to study tax law and simplify tax preparation for accountants.
- The new funding will be used to expand its customer base, hire employees with AI and machine learning expertise, and develop new products.
- Black Ore's launch comes at a time when generative AI is becoming a powerful tool in finance departments, improving efficiencies and transforming tasks and activities.