Auto-categorization and more! 🤖
We’re investing in cutting-edge ways to use machine learning technology to deliver a faster, more insightful experience in Wave. You can see this at work with new automatic categorization on your bookkeeping transactions.
Wave now learns from your categorization behaviours, as well as the preferences of other people using Wave, to automatically and accurately categorize your future transactions. It will get better, smarter, and more useful as you use it.
How does it work?
Wave uses two models. The Wave Model is a predictive model powered by deep learning and natural language processing, that all businesses in Wave benefit from. It's trained by the billions of transactions that flow through Wave, and does not use, store, or share personal data. The Personal Model categorizes transactions in a way that reflects what makes your business your own. This tailors our machine learning technology to you, automating away repetitive tasks
Who can take advantage of this?
Auto-categorization currently works for bank connections (Banking > Bank Connections) for US and Canadian businesses on Wave's new accounting platform.
I don't have this in my account. Will I?
We know automating repetitive tasks will make life easier. We'll be sure to share more updates with you as soon as we have them!
We'd love to hear your thoughts. What other problems could be solved by machine learning? Let us know below!
If you're keen on testing new developments, please reach out! We can build a group together where our teams can invite you to new projects.