🧾Your Ledger’s Got a Brain Now

Jul 01, 2025

👋 Welcome! Today, we’re covering a range of topics from Microsoft advancing healthcare tech to how AI is disrupting the world of numbers and transactions. Get ready for a full spectrum of insights that will keep you informed and engaged!

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AI & TECH

Microsoft’s new AI diagnostic tool – Microsoft has unveiled a new AI system, the MAI Diagnostic Orchestrator, led by Mustafa Suleyman, that mimics a panel of physicians when paired with OpenAI’s o3 advanced model. It correctly diagnosed over 80% of challenging case studies curated from New England Journal of Medicine.

Apple to outsource AI tech – Apple is exploring a major shift by integrating Anthropic or OpenAI models into Siri, moving away from in‑house AI. This marks a significant strategic realignment in preparation for enhanced voice assistant capabilities scheduled for 2026.

AI in notes and rests – Songscription, dubbed the “Shazam for sheet music,” uses AI to convert audio or video into sheet music, MIDI, and piano rolls within minutes. Backed by Stanford’s StartX, it supports multiple instruments, has over 3,000 users globally, and runs on a freemium model with rapid monthly growth.

CAREER & WORK

Immigration raids leave crops unharvested – ICE raids in Ventura and Central Valley fields earlier this month have led to roughly 70% of immigrant farmworkers staying away, farmers say. With the workforce dwindling, leaving crops unharvested in the fields in its prime season. The disruption threatens farm viability and could ripple through supply chains and grocery prices.

Tech layoffs semi-annual round up – TechCrunch’s latest report reveals sweeping layoffs across major technology companies in 2025. As AI and automation gain ground, this tracker highlights the human cost behind technological progress and what may be at risk as innovation accelerates. Industry players are restructuring to adapt to market volatility and evolving tech trends, signaling a challenging future for tech professionals.

401k rank slumps in workplace ‘benefits’ – Financial-wellness programs such as budgeting, emergency savings, and debt support, have become more sought-after by workers than traditional 401(k) plans. As employees battle rising living costs and stress, firms are reshaping benefits packages to prioritize immediate financial relief over long-term retirement savings.

ECONOMY & FINANCE

Wall Street remains bullish – Markets ended H1 2025 on a high, with the S&P 500 and Nasdaq hitting records despite April volatility. Renewed trade talks globally and tech sector strength fueled optimism. Global banks urged caution amid inflation swings keeping investors cautiously bullish heading into the second half.

Banks show signs of good health – Shares of major U.S. banks—led by Goldman Sachs, Wells Fargo, Citi, and JPMorgan—rose about 1% after all 22 passed the Fed’s annual stress test (covered in our newsletter last week), showing resilience even under an uncertain economic signals. The green light now clears the way for billions in dividends and share buybacks, boosting sector sentiment.

EU accepts U.S. tariff deal with conditions – The European Union is prepared to accept a universal 10% U.S. tariff on its exports to avoid higher levies—but only if the U.S. provides exemptions and quota relief for critical sectors like autos, steel, aluminum and semiconductors. The proposal aims to stave off a looming 50% tariff increase set to take effect if no deal is reached by July 9.

VC & FUNDING

Levelpath Raises $55M to Reinvent Procurement – Founded by the team behind Scout RFP (acquired by Workday), Levelpath is building a mobile-first, AI-powered procurement platform. The $55 million round aims to fuel 4× revenue growth, enhance AI contract analytics, and expand its customer roster that includes Ace Hardware, Amgen, Coupang, and SiriusXM

Bonfy.AI launches with $9.5M seed – Bonfy.AI has officially come out of stealth, securing a $9.5 million seed round led by TLV Partners and backed by Saban Capital Group. The company offers adaptive content security, leveraging AI to detect and prevent misuse of both human-generated and AI-created assets. This funding will accelerate its go-to-market strategy for enterprise data protection amid growing GenAI adoption.

BIG THINK

AI in Accounting: Precision Assistant or Ethical Minefield?

AI is transforming the accounting profession, offering breakthroughs in audit accuracy and operational efficiency—while also introducing oversight challenges.

A recent regulatory review uncovered that major accounting firms use AI to automate risk assessment and transaction analysis, but often fail to monitor its actual impact on audit quality . Firms are tracking tool usage and licensing, but not evaluating whether outcomes improved, exposing gaps in governance.

AI solutions are emerging to fill that gap. Thompson Reuter introduced Audit Intelligence Analyze tool that helps auditors quickly and accurately assess client records, detect anomalies, and prioritize high-risk areas. By segmenting testing populations based on risk levels and minimizing the volume of items requiring review, it streamlines the audit process—enabling teams to focus their efforts where they matter most while improving overall audit quality.

AI is also reshaping tax and advisory workflows. Specialist platforms, branded as agentic AI, now automate tasks like client file review, compliance checks, and memo drafting—integrating domain knowledge and maintaining explainable outputs under human supervision .

However, critics caution these tools may conceal bias or produce inaccurate outcomes if the underlying data is flawed—potentially creating hidden audit failures. Studies show some AI-driven fraud detectors miss emerging threats, and firms lack transparency in model design and validation . This “black box” problem threatens both trust and accountability.

Professionals also worry about overreliance. If accountants defer too much to AI, they may lose vital skills in judgment, contextual interpretation, and risk assessment. Ethical frameworks now emphasize “human-in-the-loop” processes to balance efficiency with professional oversight and responsibility.

Actionable Insights:

Measure AI’s Impact on Outcome Quality: Develop performance KPIs for AI tools—tracking accuracy, efficiency gains, and detected errors—to validate their value and manage risk.
Implement Transparent Human Oversight: Maintain explainable AI workflows: require auditors and accountants to review AI outputs, document decisions, and preserve accountability.