What is Virtual DI Summit?
This years’ edition of the (Virtual) Digital Innovation summit focuses on the theme “AI For Everyone“. The objective is to “make AI accessible for everyone by showing practical AI-applications from a business- and a technical point of view.”
Metamaze Chief Commercial Officer (CCO) Niels Van Weereld was invited to shed light on how the FinTech Industry leaders can reap the benefits of A.I. and more specifically Intelligent Document Processing (IDP)
Benefits of A.I. for the financial industry
IDP increases productivity, quality and traceability
NLP data scientist Christoph Evers introduced three key benefits of IDP in the FinTech Vertical, which we couldn’t agree more with.
- Increased productivity
- Increased quality
- Increased traceability
Efficiency and happiness are the main benefits of IDP
Although the main benefits of IDP are becoming clear (increased efficiency and revenue), there is still a rather low level of implementation. And there is definitely room for improvement because in most enterprises, 80% of the data is still unstructured.
Furthermore, we notice at Metamaze that some enterprise executives are not sure if their organisation is ready for an A.I. solution. To help ease the way, we have created a free guide to measure your organisation maturity level for IDP.
How to know what can be automated?
A member of the crowd asked Niels: “When do you know if a certain task is ready to be automated?” and he replied with ease by sharing an analogy.
Why wait with IDP?
So, 80% of enterprise data is still left unstructured, and the technology is more than ready to being implemented. What is still holding certain industry leaders back?
If you ask Niels why you should care about IDP, he’ll tell you the following: Keeping your employees and customers happy is paramount. A.I. technology is clearly mature enough to help remove the pain of repetitive and manual work. We need A.I. to automate the non-value-adding tasks so that irreplaceable and talented people are once again able to focus on their core activities. With A.I. and more specifically IDP, the world could be a better, safer and more effective place where every resource is able to exploit their strengths to the maximum.
The best time to start implementing an A.I. solution like IDP is now because there is still so much data available in unstructured documents. More specifically, 25% of the business processes are made of documents, which is an insane amount of time that can be saved.
Is your organisation ready for IDP?
If you are curious to learn if your organisation is mature enough to reap the benefits of IDP, then download our free guide by clicking the picture below.