Sage scaling up AI tool after increase in profits

MOMENTUM is building across accountancy software business Sage’s AI capabilities, its CEO has told The Journal on the back of steep increases in revenue and profits.

- TOM KEIGHLEY

The North Tyneside-based tech giant has been “rapidly scaling” its generative AI assistant, Sage Copilot, which is now available to 40,000 customers in the UK and helps finance teams with the monthly close process as well as analysis of their company’s financial performance and day-to-day tasks.

Steve Hare said substantial investment is being put into expanding the tool, with much of the work to increase the tech’s autonomous capabilities being carried out by the FTSE100 firm's Tyneside-based engineers and developers.

Mr Hare said he was instructing teams to go further and faster with development work, and added: “It’s increasingly going to deliver, for small and medium-sized businesses, game-changing productivity and is going to allow them to focus on looking forward and running their business. Because the recording of transactions, the history and the insights that come from that is going to be done by agents.”