SAN DIEGO, California, March 7, 2019 /PRNewswire/ -- VATBox, the pioneer and leader in automated VAT compliance and VAT recovery, announced today the release of the 6th generation of its AI platform, which has reached a new level of success with VAT analysis on invoices thanks to its continued technological growth and focus on artificial intelligence.
David Guedalia, VATBox's new Chief Technology Officer, has taken a leading role as the company continues to innovate in the VAT recovery and compliance space, supporting the continued development of the company's AI capabilities. He says, "VATBox's latest release integrates both expert system rule-based processes with statistical-based processes, increasing our capacity and enabling our speed and efficiency to offer near real-time results."
According to Moshe Koppel, AI Professor at the Department of Computer Science at Bar Ilan University, "David Guedalia's expertise in semantic analytics will likely enable VATBox to achieve unprecedented levels of compliance by understanding invoices and cross-checking them with authorities' data."
"VATBox joined the Citi Accelerator in 2013, and we have been following their progress since. They have grown by leaps and bounds, signing on Tier 1 clients and growing their product with AI and automation." Ornit Shinar, Head of Citi Venture Investing Israel.
Guedalia most recently researched autonomous vehicle mapping at Intel. Prior to that, Guedalia was VP of Technology at Qualcomm's Innovation Centre. He was a Co-Founder of Happy Cloud, LLC and served as the CTO and Vice President of Research & Development at iSkoot Technologies Inc. His PhD work in neural computation from the Hebrew University of Jerusalem, specialized in in one-shot learning, is at the forefront of Machine Learning and Artificial Intelligence.
VATBox is an automated, enterprise-wide, cloud-based VAT recovery and compliance solution that has successfully disrupted the global VAT recovery process. Sophisticated AI tools provide VATBox customers with 360-degree VAT visibility insights, maximizing VAT returns with an unprecedented 98.7% on average VAT recovery. Deep learning algorithms help companies achieve the highest levels of compliance – 99% on average – and easily detect incidents of fraud within its T&E expenditures.
Active in 72 countries worldwide and supporting more languages than any other solution in the market, VATBox leverages the latest word embedding technology to analyze invoices. The platform utilizes natural language processing (NLP) to process Big Data that enable interactions between computers and human languages. VATBox's NLP capabilities encompass text mining, live dynamic text analysis, computational linguistics, machine learning on text, deep learning approaches for text data and natural language understanding. The integration of these advanced AI capabilities has played an integral role in driving further VAT automation.
For more information please contact:
Liat Arbesman – VP Marketing