New York-based Materia makes AI tools for big firms that work in tax, audit and accounting, using large language models (LLMs) to answer workers’ questions as well as help them search through and spot patterns in financial data. The companies did not disclose the terms of the deal. (The Logic)
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New York-based Materia makes AI tools for big firms that work in tax, audit and accounting, using large language models (LLMs) to answer workers’ questions as well as help them search through and spot patterns in financial data. The companies did not disclose the terms of the deal. (The Logic)
Talking point: Thomson Reuters chief product officer David Wong said the acquisition fits his firm’s strategy of selling AI assistants to its professional service clients. The Toronto-headquartered media giant sees an opportunity to offer more accurate tools by training LLMs on its content, CEO Steve Hasker told my colleague Catherine last year. Materia, founded in 2022, had previously raised US$12.3 million in funding from backers including Thomson Reuters’s venture arm, according to PitchBook.
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