Altilia is recognized as Major Player in 2023-2024 IDC MarketScape Worldwide Intelligent Document Processing Vendor Assessment

How to leverage unstructured data with AI

By altilia on October 23, 2024

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? 

  1. 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.
  2. 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.
  3. 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.
  4. 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. 
  5. 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:
  1. 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
  2. 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
  3. 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
  4. 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:
  1. 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
  2. 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
  3. 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
  4. 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
  5. 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.
  6. 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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.

By altilia on October 23, 2024

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