Ark II might be the world’s first AI model for accountants
Jenesys AI, a UK-based artificial intelligence company, has built a multimodal accounting model using post-training to learn accounting treatments, recognise when they are wrong, and ask the expert accountant to review them.
Jenesys AI, a UK-based artificial intelligence company, has built a multimodal accounting model using post-training to learn accounting treatments, recognise when they are wrong, and ask the expert accountant to review them.
After a recent breakthrough by the company, Ark II achieved an average score of 0.718 across critical bookkeeping tasks, surpassing leading AI models, including GPT-4o (0.683) and Claude 3.5 Sonnet (0.675). The company regularly tests alternative models using proprietary ledger data exclusive to each client.
Chief Scientist Tosin Dairo says, “We have begun peeling back the layers of manual bookkeeping, The Ark series is our first step towards an AI-powered bookkeeper that can outperform both billion-dollar models and human bookkeepers.” Ark III, targeted to launch this summer, is forecast to exceed 0.85 and is expected to be the preferred model for high-growth accountancy practices and enterprises.
With a waitlist of over 30k businesses at 200+ accounting practices, Jenesys AI has struck a nerve in an industry desperate for innovation. Unlike public models like GPT-4o, Ark II creates a unique knowledge moat for each accounting practice through encrypted, private ledger data – effectively building a digital twin of their best bookkeepers. The technology is in its audit window for GDPR and SOC II certification, addressing the critical data privacy concerns that have held back AI adoption in financial services.
The system’s commercial product, ‘Jack,’ demonstrates this technology’s real-world impact. Jack is available 24/7 and can process up to 7,000 AP transactions per month with two months’ training. Compared to traditional offshore processing, Jack is 70% more cost-effective. Analysis of early adopters who made use of Jack for a full month’s bookkeeping report above 80% accuracy rates, compared to the industry average of 60%. The results have been published on HuggingFace, demonstrating particular strength in document contextual understanding and data extraction capabilities.
Jody Miles, owner of KARA Accountants and early adopter, says “Getting the transition to AI wrong in bookkeeping puts over £1.3 trillion in SME revenues at risk of collapse. As an industry, we must focus on helping businesses manage cash flow, not just compliance.”
“This breakthrough comes at a crucial time, with 28% of UK and US bookkeepers expected to retire within five years, taking with them critical knowledge of how the accounts are managed”, said Nicolai Thomson, CEO of Jenesys AI. “We’re building an infrastructure that graduates digital bookkeepers, much like universities produce human graduates. This is just the beginning – future iterations will expand into broader accounting, lending, and financial management roles.”
Jenesys AI is raising a Seed investment to accelerate the development and deployment of its technology.
For more information, visit jenesys.co
