Structured Data: The Future of the AI-focused Firm

It's time to reimagine what data can do for your firm

I’m hearing more and more buzz around the topic of structured data and its potential to elevate firms at multiple levels — when handled with an AI mindset, that is.

Structured data is not a new concept. It’s been around for years and represents how firms have always worked. Data is input into fields within accounting solutions (e.g., debits and credits) and that data is then used to support compliance and advisory work. But here’s the thing…structured data has taken on a whole new dimension and the possibilities are endless.

Think about all the other sources of information with the potential to become structured data — that's where the magic is. Just consider the different types of unstructured data you deal with today: emails (and we all know how many of these we get), PDFs (everything from invoices to contracts) and even text messages. This is information that lives “on a page” and has always been handled manually (or overlooked) because there’s simply so much of it.

Well, that’s where AI comes in. AI-driven solutions can quickly and accurately scan unstructured data and pull out key information, which you can then turn into structured data. Even better, AI can add context and provide data in an organized manner. And the more data you have, the easier it is to provide clients with informed predictions and trends to elevate your advisory role.

Now, let’s dig into structured data: Its value, the possibilities and why firms should take advantage.