Actabot – the Accounting and Tax Bot

This is an idea I started circulating in 2017 when VAT tax was first introduced in some GCC countries. Businesses were struggling to keep up with the new accounting requirements. It created an overhead they were not prepared for, and they wished someone could just “take this monkey off their back”.

Then in 2018 the idea evolved thanks to the collective minds of the community. The original bot idea became a digital twin to be created in collaboration with 3 million accountants worldwide. A massive crowd-sourcing initiative to tackle this herculean task. The target is to completely transform the accounting profession as it stands now, in collaboration with the human accountants, in an “everyone wins” formula. And while we are at it, let us disrupt the traditional financial auditing function by substituting more effective paradigms.

In 2019 as the AI and bot technology further matured and Blockchain and Distributed Ledger gained more acceptance, it is time to re-launch this venture by bringing on-board a wider eco-system of stakeholders and enablers.

More details to come as we make progress.