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Airbus Harnessing AI in Bid to Save Millions on Finance Tasks

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Published: Wednesday, 04 September 2019 18:18

The aircraft maker’s Americas unit is digitizing the approval of expense reports and payment of invoices

An Airbus A350 XWB prepares for landing. The aircraft maker’s Americas division is using artificial intelligence to shave costs from its expense report approval process. 

Airbus SE is using artificial intelligence to squeeze cost out of its finance function, an experiment launched in the aircraft maker’s Americas division that could save the corporation millions of dollars annually if rolled out in other regions.

It’s one of the latest examples of how companies across sectors are digitizing operations to increase efficiency, reduce human error and free up employees for tasks that require more human judgment, such as strategic planning, analysis and audits.

“Companies can now automate highly repetitive activity at a lower cost with a higher degree of accuracy,” said David Axson, head of the CFO consulting practice at Accenture Strategy, a unit of consulting firm Accenture PLC. “This especially applies to high-volume-use cases like accounts payable.”

Excerpt from WSJ

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The Four-Second Catastrophe: How Boeing Doomed the 737 MAX

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Published: Wednesday, 28 August 2019 18:15

At the root of the company’s miscalculation was a flawed assumption that pilots could handle any malfunction

Almost as soon as the wheels of Ethiopian Airlines Flight 302 spun free from the runway March 10, the instruments in front of Capt. Yared Getachew went haywire.

The digital displays for altitude, airspeed and other basic information showed dramatically different readings from those in front of his co-pilot. The controls in Capt. Getachew’s hands started shaking to warn him the plane was climbing too steeply and was in imminent danger of falling from the sky.

Soon, a cascade of warning tones and colored lights and mechanical voices filled the cockpit. The pilots spoke in clipped bursts.

“Command!” Capt. Getachew called out twice, trying to activate the autopilot. Twice he got a warning horn.

Excerpt from WSJ

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The Multiple Problems, and Potential Fixes, With the Boeing 737 MAX

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Published: Wednesday, 21 August 2019 22:09

A look at the plans to correct the aircraft’s flight-control system that contributed to two fatal crashes and the plane’s grounding

Two fatal crashes of Boeing Co. BA 737 MAX exposed problems with the aircraft’s flight-control system, spurring aviation regulators to push for additional changes before the grounded plane can again fly with passengers.

Look at the problems and how Boeing plans to fix them.

Excerpt from WSJ

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Flood of New Jets Will Create Turbulence

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Published: Wednesday, 07 August 2019 17:43

Race to build smaller long-range planes could weigh on the aircraft-finance industry

After years of getting crowded with small planes and big planes, the skies are about to be invaded by medium-sized planes. The shift may delight airlines and flyers, but is starting to create problems for plane owners.

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