With an eye toward technological growth and a heightened focus on artificial intelligence, VATBox recently tapped AI expert David Guedalia to serve as Chief Technology Officer and to play a leading role in driving further VAT automation with enhanced AI capabilities.
Guedalia most recently served as CTO and Vice President of Research & Development at iSkoot Technologies Inc. He is co-founder of Happy Cloud, LLC and was employed at Mobileye in the position of VP of R&D where he focused on developing mapping applications for autonomous vehicles. Prior to Mobileye, Guedalia was VP of Technology at Qualcomm’s Innovation Centre, where he developed algorithms to analyze human textual behaviour in the multi-sensor IoT environment. He holds a PhD in neural computation from the Hebrew University of Jerusalem, specializing in Machine Learning and Artificial Intelligence.
Guedalia talked about his decision to join VATBox. “The world of fintech has just starting to enter the data revolution. The things that are happening in our world are all information-based, and financial sectors like VAT are lagging behind. VATBox is bringing accounting into the Information Age. VATBox AI goes beyond just processing the data, it analyzes and extracts insights from the data, providing a level of understanding that was not possible before.”
His background in textual analysis and unsupervised learning has already been applied to the innovations at VATBox. “I have leveraged my experience within the VATBox universe, where data is dynamic. Here, we analyze human activity and flow of behaviour, such as what people do while travelling. All the bits of fragmented information do not provide the necessary context to understand what really happened. Our AI looks at the information hierarchy. Not only what happened, but why it happened, where it happened, why it happened. We analyze the entire context to provide companies with meaningful information.”
With recent high-profile financial scandals and endless tax code changes, compliance is on everyone’s minds. As Guedalia says “VATBox AI will re-write the rules of fintech. In the first phase, the platform allows us to automate an enormous quantity of data and reduce human errors, a critical compliance issue in fintech. The second, more revolutionary, phase takes the accumulated data, validate it and flips it around from descriptive to prescriptive, allowing companies to take proactive action in making business decisions. By understanding your data, you can enhance your regulatory compliance. This is not a little thing. It’s the difference between fraud and getting it right.”
As VATBox continues to innovate in the VAT recovery space, Guedalia is well positioned to support the continued development of the company’s AI capabilities. He sums up VATBox’s role with a smile, “We’re making VAT less taxing.”
Founded in 2012, VATBox has been revolutionizing the automated VAT recovery marketplace with its cloud-based solution that can be deployed in 30 minutes without any additional budget or IT resources. VATBox’s out-of-the-box solution handles reports, data collection, aggregation, qualification, submissions and the complexities that accompany these processes using a fully automated approach. VATBox implements the highest level of data security and compliance with all international rules and regulations of the various jurisdictions and offers companies 360⁰ visibility into their VAT spend and recovery. As a privately-held company, VATBox’s technological breakthrough has raised USD $50M in private equity funding and attracted a large portfolio of Fortune 500 clients.
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