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How generative AI is revolutionising business + 7 prompts to streamline your daily work

By altilia on May 6, 2024

Imagine a tool that can create almost anything you ask it to: text, images, music and even programming code. Generative AI (GenAI) has emerged not just as a concept, but as a transformative force in the business landscape.

 

What is Generative AI and why is it so special?

Generative AI acts like a super-assistant that doesn’t just perform tasks but does so with a note of creativity. It’s an innovation that creates content, designs and solutions, effectively turning ideas into reality with little more than a prompt.

What sets Generative AI (GenAI) apart is its ability to be a super-assistant in support of human creativity. Unlike traditional AI, which might suggest the next logical data point in a series, Generative AI could imagine an entirely new series. This is because GenAI works by understanding and replicating the complex patterns that make up human-like creations, from artwork to prose. For example, if you ask it to write a poem in the style of Shakespeare, it doesn’t just find existing poems; it generates a new poem that feels like it could have been written by the Bard himself.

In business, this means that Generative AI doesn’t just optimise existing processes; It’s an invaluable tool for streamlining complex tasks and problem solving, unlocking the ability to explore countless scenarios and variations that a human alone could never conceive.

 

Why AI is a Game-Changer for Businesses?

Generative AI is transforming business operations by streamlining tasks and reducing costs. It simplifies knowledge management by using AI to quickly answer employee questions and retrieve information. It automates document creation by using templates to generate contracts and reports with less effort. AI also improves data entry by extracting information from documents and populating databases more accurately and quickly. These improvements enable organisations to do more with fewer resources and less time.

 

The Value Potential

The figures are staggering—generative AI could add between $2.6 and $4.4 trillion to the global economy annually. That’s more than the GDP of many countries, and as GenAI technology advances, its impact is set to increase (source: McKinsey 2023)

 

Which Areas Will Benefit?

GenAI will significantly advance areas like finance, procurement, HR, legal, and customer service. It will also boost data analysis, business intelligence, and office support. These areas, often heavy with documents, will benefit. The solutions offered by Altilia, for example, automate tedious tasks, thereby increasing efficiency. The impact will also be felt across sectors, from banking to technology to healthcare.

 

AI helps complete tasks without replacing jobs

GenAI doesn’t replace jobs. It transforms and enhances them. In fact, AI is really powerful when it performs specific tasks, not entire jobs. At Altilia, we believe that AI can enhance the skills of workers. This is especially true for knowledge workers. It also increases the quality of work and productivity. AI targets repetitive, low-value manual tasks. These tasks provide little value to the organisation. Altilia’s solutions aim to empower employees by streamlining repetitive document-based processing tasks. They free employees from tedious tasks. This leaves more time for creative and social activities.

 

Looking Ahead

The rapid changes brought by GenAI are part of the larger evolution of our world. Companies’ adept at leveraging this technology could gain a considerable edge. However, there are challenges to be addressed, like ensuring responsible AI use and preparing people for the changes it will bring.

Generative AI is opening a realm of possibilities for companies, making it easier to accomplish tasks that were once time-consuming or even impossible. With every technological advancement comes challenges, but the potential to enhance how we work and live is immense.

 

7 Prompts to Streamline Work with AI

In the ever-evolving landscape of professional environments, the role of Generative AI (GenAI) is becoming increasingly integral. From automating dull tasks to fostering creativity, GenAI is not just a futuristic concept but a present reality enhancing our working life. Here’s a closer look at the practical applications of GenAI that are transforming businesses today, exemplifying its versatility and power across various domains:

– Content Creation and Enhancement: GenAI can draft text in any desired style and length.

Example prompt: “Generate a blog post draft on the impact of interest rate hikes on the real estate market, including key statistics and industry expert quotes.“

 

– Query Resolution in Business Operations: Find precise answers to specific business questions.

Example prompt: “Explain the recent amendments to HR policies regarding hybrid work environments and their implications for employees.”

 

– Communication Tone Adjustment: Tailor the tone of workplace communications to fit the intended audience.

Example prompt: “Revise this performance review email feedback to make it more constructive and motivating, focusing on growth and development opportunities.“

 

– Information Summarization: Distil complex documents into easy-to-digest formats.

Example prompt: “Summarise the annual financial report into a concise executive summary for the upcoming board meeting, highlighting the five most significant financial KPIs using bullet points.”

 

– Complex Information Simplification: Break down intricate documents for broader accessibility.

Example prompt: “Simplify the complex legal terms in our customer service agreements for non-specialist comprehension, and include a section with bullet points summarising the most common questions about our customer service.”

 

– Customer Feedback Analysis: Analyse customer interactions for service improvements.

Example prompt: “Analyse and classify the latest batch of customer service tickets into categories of complaint types, and identify the top three areas for service enhancement.“

 

– Software Coding: Generate, translate, and verify code.

Example prompt: “I need a spending tracker app prototype. Can you generate a basic code that works on both iOS and Android using natural language descriptions?“

 

Emerging Applications:

As Generative AI (GenAI) continues to evolve, it’s opening the door to a host of new and compelling applications. These emerging technologies harness the creative power of GenAI to address complex problems and organise unstructured data. A few of the most promising and impactful applications of GenAI for businesses are:

  • Intelligent Document Processing (IDP): This involves using AI to read and understand documents. Imagine you have a huge pile of Complex documents like contracts, financial statements, reports as well. IDP acts like a super-smart assistant that can quickly sift through all these documents, figure out what’s important, and even extract the specific information you need. For example, it can help a bank process loan applications faster by automatically extracting applicant details, saving hours of manual work.
  • Intelligent Process Automation (IPA): This takes the idea of robotic process automation (RPA) a step further. Initially, RPA was like teaching a robot to do repetitive tasks, such as entering data into a system. But IPA adds a layer of intelligence to these robots. Now they can not only perform tasks, but also make intelligent decisions based on the data they encounter. For example, an IPA system can automatically handle customer service requests by understanding the customer’s problem and either solving it directly or routing it to the right department.
  • Managing unstructured data: This is about organising and understanding data that doesn’t fit neatly into tables or databases – think of it as the messy, handwritten notes scattered across your desk. Most of the information we deal with every day, from emails and PDF documents to images and videos, is unstructured. Managing this type of data means using tools and technologies to sift through the clutter, identify the important information and organise it in a way that makes sense for future use. Consider a scenario where a lawyer needs to find specific evidence in thousands of pages of legal documents. Unstructured data management tools can help by quickly finding relevant information and organising it in an easily accessible way, saving hours of manual searching.

 

To Conclude:

In conclusion, Generative AI represents not just a leap forward in technological capabilities, but a transformative shift in how businesses operate, innovate, and compete. As we navigate this exciting landscape, the potential for GenAI to redefine roles, streamline processes, and unlock new realms of creativity is unparalleled. Whether it’s improving customer interactions, streamlining document management, or process automation, the implications for efficiency, productivity, and innovation are vast.

However, harnessing the full power of GenAI requires more than just technology; it demands expertise and vision to integrate these capabilities into the business strategy effectively.

If you’re eager to find a solution for your business to streamline processes, reduce the time spent on tasks, and drive growth, we’re here to guide you through every step. Book a free consultation with an Altilia expert today, and let’s embark on this transformative journey together, unlocking the potential of GenAI to propel your business into the future.

By altilia on May 6, 2024

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Why your business needs more than a general purpose AI

Why your business needs more than a general purpose AI

Overcoming the biggest challenges in intelligent document processing We've all been there: urgently uploading a complex document to ChatGPT or another general purpose AI solution, hoping for that magical moment of instant understanding. You paste in a financial report, a lengthy contract, or a multi-page compliance document, and wait with anticipation. The response comes back - and can I trust this answer? Sure, these tools might summarize a few points or extract basic details, but can they guarantee the accuracy and completeness of the analysis? And when you're handling high-stakes documents like contracts or compliance reports, where even a single overlooked clause or misinterpreted detail could lead to serious consequences, "good enough" simply doesn’t cut it. Most GenAI tools today are like eager but inexperienced junior assistants. They'll give you a quick overview, highlight a few things, but miss the connections that an experienced professional would catch. They'll read a loan application, but might overlook that crucial footnote that changes everything. They'll scan a compliance document, but could miss the intricate relationships between different sections that truly tell the full story. For businesses handling critical documents day in and day out, relying on "probably correct" results is a risk you can't afford. What you need is a solution that doesn't just glance at the words but truly understands the context, the relationships, and the implications within your documents. A solution like Altilia, designed to not only extract data but to deliver comprehensive insights with the precision and reliability you can trust. The daily struggle with documents General purpose GenAI apps face three key challenges when processing documents that either effect the accuracy in the scanning of the document, the efficiency in the elaboration of the info or doesn’t adapt effectively to the complexity of the multitude layout of different documents: The context problem Imagine evaluating a customer's creditworthiness by examining individual transactions in isolation, without piecing together their full financial story. Traditional GenAI tools often work this way, fragmenting documents into smaller sections and processing them independently. This approach overlooks the critical connections between sections, like how repayment terms align with income statements or how hidden clauses in one part of a document might contradict terms in another. For financial documents where every detail matters, this lack of contextual understanding can result in costly errors—such as misjudging a customer’s true ability to repay a loan or missing compliance risks buried in the fine print. Accurate decision-making demands a solution that understands the full picture, not just isolated fragments. The structure challenge Most GenAI apps read documents sequentially, like a straight line of text, missing the crucial hierarchy and organization that gives financial documents their meaning. Imagine reading a financial statement without distinguishing between headers, footnotes, and main entries - that's essentially what happens when GenAI ignores document structure. The connection gap In financial documents, information often relies on definitions or conditions stated elsewhere in the document. General purpose GenAI struggles to make these connections, potentially missing critical dependencies in complex financial agreements or regulatory documents. How Altilia transforms document processing The Altilia platform collects, processes, and centralizes all kinds of data, both structured and unstructured. It automates complex business processes and provides advanced knowledge management tools. It uses integrated AI technologies to add value through automation, synthesis, and content generation. Here's how it works: Step 1: Document intake The platform accepts any document your financial institution handles. This includes scanned loan applications, pptx, xls, and digital compliance reports. It's like having a universal document translator at your disposal. Step 2: Smart processing pipeline This is where the magic happens. The platform processes documents through four key stages: First, it reads all text, even from scanned documents which is the most challenging format for the general purpose AI tools due to the quality of the scan. Then, it maps the document's structure. It understands how its parts relate (header, paragraph, notes, etc.). It's like creating a detailed outline of a complex financial report. Next, it builds a complete understanding of the document's structure. It's like creating a map of where the information is. Finally, it analyzes any charts, graphs, or images, ensuring no information is missed Step 3: Knowledge creation All this information goes into the business’ knowledge base. Here, documents are organized, linked, and made available. Every employee can access the needed information. However, not everyone should see everything. So, we can create different access levels for each employee. Step 4: Practical application This is where businesses can get advantage of Altilia’s platform to make the next step into the automation of their workflow. Automated processing: The system can automatically handle routine document tasks, like processing loan applications or checking compliance. It will report the client's credit score and a summary of the key points in their financial records. Smart assistance: AI-powered tools help staff quickly find and use information across the business's entire knowledge base. By simply typing a question, such as "Who is the financial advisor of company XYZ?", the search function can rapidly locate the information. Custom automation: Create specialized workflows for your specific needs, no technical expertise required. Real benefits for financial institutions This approach transforms daily operations in several ways. Here some examples: Faster processing: What used to take hours of manual document review can now be completed in minutes Better accuracy: With a comprehensive understanding of every document, your team catches critical details that might have been overlooked before Enhanced compliance: The system helps ensure regulatory requirements are met consistently Improved decision-making: With better access to information, your team can make more informed decisions quickly Making it work in your business The best part about Altilia's solution is how easily it fits into your existing operations: No technical expertise needed: The platform is designed to be used by financial professionals, not tech experts Seamless integration: It works alongside your existing systems without disrupting current processes Scalable solution: Whether you're processing hundreds or thousands of documents, the platform grows with your needs Beyond traditional document processing While most GenAI platforms struggle with document complexity, Altilia offers a fresh approach to information processing. Traditional platforms treat documents as separate fragments, reading text mechanically and missing critical connections. They also require extensive technical expertise to customize. Altilia completely transforms this approach. It creates a comprehensive, intelligent map of each document instead of fragmenting information. This is like having a super-smart analyst who not only reads text but also truly understands its intricate relationships, structure, and context. Unlike general purpose solutions, which see isolated data, Altilia sees a living network of knowledge. It preserves document hierarchies, enables real-time cross-referencing, and turns unstructured information into actionable insights. Unlike traditional solutions that demand complex technical skills, Altilia provides a no-code, user-friendly environment that any business professional can navigate. In essence, Altilia is not just processing documents - it's reimagining how businesses understand and leverage their information. It's not about faster data extraction, but about generating deeper, more intelligent insights.

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Why One Size Doesn't Fit All in Business Automation

Why One Size Doesn't Fit All in Business Automation

Imagine you need to renovate an apartment. You've got your trusty hammer in the toolbox, and it's served you well for hanging pictures and minor repairs. But now you need to fix a leaky pipe, repaint the living room, and rewire an electrical outlet. Suddenly, that reliable hammer seems completely inadequate. You quickly realize that to tackle these diverse tasks, you need a variety of specialized tools – a wrench for the pipe, brushes for painting, and a voltage tester for the wiring job. Don’t worry, Altilia is not rebranding itself as a DIY startup, but this scenario perfectly illustrates the current state of AI in business. Many companies, eager to exploit the power of AI, are reaching for a single, all-purpose AI solution, much like grabbing that trusty hammer for every home repair. They're turning to impressive, general-purpose AI models like GPT4 or Claude, expecting these tools to solve all their business challenges. 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The reality is that while these general AI models are impressive, they're not designed to handle the diverse and specific challenges that different businesses face. Each industry, each company, has its own unique processes, data types, and objectives. A one-size-fits-all AI agent often falls short in understanding these nuances. The Advantage of Specialized AI Agents This is where specialized AI agents come into play. By focusing on specific tasks, these agents can befine-tuned to understand the unique nuances and technicalities of your own organization and/or industry, work with your unique data formats, and align with each of your particular business processes’.  The result? Greater accuracy, improved efficiency, and better integration with your existing workflows. By focusing on creating multiple, specialized AI agents rather than relying on a single, generic solution, businesses can: Address specific challenges more effectively, improving problem-solving capabilities Improve accuracy in task completion, reducing errors and enhancing quality Enhance efficiency in specialized processes, saving time and resources Better integrate AI with existing workflows, minimizing disruption and maximizing adoption Maintain their unique competitive edge by leveraging AI in ways specific to your own business model This specialization allows businesses to use AI not just as a general tool, but as a set of expert assistants, each trained in a specific area of the business. 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Instead, they should be viewed as starting points – impressive technologies that demonstrate the potential of AI, but which need to be refined and specialized to truly transform business operations. Altilia's platform empowers businesses to move beyond generic solutions and create AI agents that truly understand and enhance their processes. As you consider integrating AI into your business, think beyond the one-tool approach. Consider how specialized AI agents could improve specific areas of your operations, much like how a particular tool can be used in renovating an apartment. Altilia makes it easy to create AI tailored to your needs. It's time to move beyond the myth of the universal AI agent and embrace the potential of specialized AI solutions.

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How to leverage unstructured data with AI

Introduction In today's digital landscape, businesses are drowning in data, but starving for insights. Gartner reports that 90% of new enterprise data is unstructured, growing three times faster than structured data. Yet, a 2019 Deloitte survey found only 18% of organizations effectively leverage these information. For the financial sector, transforming unstructured data laying in legal contracts into actionable insights is a complex and costly work that requires highly specialized analysts to organize data into user-friendly graphs. But is this the only available solution?  Altilia's smart Knowledge Base solution offers a powerful answer. Our platform tackles the unstructured data challenge, turning the information into a competitive advantage. Whether you're an accountant juggling diverse client information or a financial analyst reading countless contracts, Altilia's smart knowledge base could be the key to unlocking your data's true potential. Join us as we explore how Altilia's solution can help you harness the power of unstructured data, streamline processes, and drive informed decision-making in an increasingly data-driven world.   Introducing Altilia's Smart Knowledge Base Altilia's Smart Knowledge Base is our answer to the unstructured data problem. It's a powerful tool that turns messy, scattered information into useful, organized knowledge. But, what is a smart knowledge base? Think of it as an intelligent digital library. Unlike a regular database that just stores information, a smart knowledge base can understand, organize, and even use the information it contains. Therefore, the library not only stores everything you upload, but also makes connections between different pieces of information, answers your questions, and even helps you make decisions. That's what makes it "smart" – it doesn't just hold knowledge, it actively helps you use it. How is Altilia's solution different from other solutions?  Gathers All Your Data: Our system collects information from many different places. It doesn't matter if it's scanned papers, emails, or database entries - our platform brings it all together in one place. Understands Your Information: Our AI doesn't just read your data, it understands it. It can make sense of complex documents, pull out important details, and even grasp context and subtle meanings. Easy to Use: You don't need to be an AI expert to use our platform. We've made it simple. There's a search bar to find information quickly, and you can ask questions in your native language. Works Automatically: Once the setup of a workflow is completed, our system can do complex tasks on its own. It can take the new documents that have been uploaded, extract information from them, and even create detailed reports without the need to personally go through each step.  Trustworthy: We know the quality of the result is important, especially when writing a report or a legal document. That's why our system can show you how it reached its conclusions. This is crucial for businesses that need to follow strict rules. By combining these features, Altilia's Smart Knowledge Base changes how you use your data. It's not just about storing information - it's about making that information work for you. It helps you gain insights, work more efficiently, and make better decisions across your entire organization.   The Financial Analyst's Challenge Meet Sarah, a seasoned financial analyst working for a large investment firm. Sarah's job involves analyzing complex reports from rating agencies to guide investment decisions. Let's see how Altilia's Smart Knowledge Base transforms her workflow and solves her data analysis dilemma. Sarah's Typical Day Before Altilia: Information Overload: Sarah receives a comprehensive report from a major rating agency: A 200-page PDF document with text, tables, and graphs Supplementary data in spreadsheets Some reports are inside data silos, making difficult to retrieve the correct information Related news articles and press releases Time-Consuming Analysis: Sarah spends days: Manually reading through the lengthy report Copying data from PDFs into spreadsheets for analysis Cross-referencing information with past reports and news Risk of Oversight: With so much information to process: Important details might be missed It's challenging to spot trends across multiple reports Connecting related information from different sources is difficult Delayed Insights: Because the analysis takes so long, Sarah often struggles to provide timely investment recommendations to her team. Sarah's Transformed Workflow with Altilia: Centralized Information: All the information, regardless of its original format, is now in one place: The PDF report is automatically processed and its content extracted Spreadsheet data is integrated into the system Relevant news and press releases are collected and linked Automated Information Extraction: Altilia's AI does the heavy lifting: Automatically reads and understands the entire report Extracts key data points, trends, and risk assessments Organizes all information into a structured, easily searchable format Intelligent Search: Sarah can now find any piece of information in seconds: Uses natural language queries like "Show me all companies with a credit rating downgrade in the last quarter" The system understands context, finding related information even if it's not explicitly mentioned Automated Analysis: The platform generates insights automatically: Compares current ratings with historical data Identifies trends and anomalies in the agency's assessments Creates visualizations of key financial indicators Enhanced Accuracy: With AI-powered analysis, the risk of oversight is significantly reduced: The system cross-references information from different sections and sources Any unusual data points or discrepancies are flagged for human review Sarah can always double check the results proposed by the AI Agent and the resources used. Faster Insights: Sarah now spends less time on data processing and more on high-level analysis: Quickly identifies key trends and potential investment opportunities Provides more timely and comprehensive recommendations to her team The Result: With Altilia's Smart Knowledge Base, Sarah transforms from a data processor into a strategic advisor. She can analyze reports more thoroughly, provide faster insights, and add more value to her firm's investment decisions. The investment firm benefits from more timely, accurate, and insightful financial analysis, helping them make better investment choices in a fast-paced market.   What's Next for Unstructured Data? The world of data is changing fast, and unstructured data is leading the charge. So, what's coming next? Here's our insights into the future: Smarter AI: Imagine AI that can understand data like a human, but faster and without getting tired. That's where we're heading and we are working on an AI that can make sense of even the trickiest information. Speed is Key: In the future, waiting for answers will be old news. We're moving towards systems that can give you insights right away, as soon as new data comes in. Keeping Data Safe: As we use more data, keeping it safe becomes super important. Future systems will need to be like a fortress for your information, while still making it easy for you to use. Data for Everyone: You shouldn't need a PhD to understand your data. We're working towards a world where anyone can ask questions and get answers from their data, as easily as using a search engine. Contrary to what it might look like, the future of data is exciting, and a bit wild. There will be more data than ever, coming from places we can't even imagine yet. But with the right tools, like Altilia's Smart Knowledge Base, you won't just keep up – you'll be ahead of the game. Ready to step into the future of data management? Let's turn your data challenges into your biggest strengths, today and tomorrow. Book a call with our experts to explore how Altilia’s smart knowledge base might fit your business.

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