SuperConcepts to set up innovation lab

SMSF administrator SuperConcepts today announced it will create an innovation lab dedicated to SMSF software research and development.

The lab will use artificial intelligence, conversational user interfaces and robotic processes to automate low-value tasks to free up resources for fund administrators, SuperConcepts said.

SuperConcepts chief technology officer Brad Ackermann said: “It is important to invest in a research and development lab with dedicated resources to keep us ahead of evolving tech trends and be able to rapidly respond to customer needs.

“The technical team will bring cognitive and development skills to really focus on the ability to interpret and understand written text and verbal commands from customers in order to make automated decisions from that information.”

The lab, which will be staffed by a mix of accounting and software experts, will also produce a range of prototypes that will then be tested, refined and deployed.

“This work will also give valuable insights into the data to stimulate conversations with accountants around tax compliance and advisers around investment decisions and strategies,” Ackermann added.

He noted the software solutions would be a key driver for the company’s strategic direction.

“We see this as critical to improving the accuracy of data, keeping it up to date and being less error prone for fund administrators,” he said.

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