Automate derivatives sales pitch creation processes and enhance corporate risk scoring.
Gartner mentions Altilia in its 1st market guide on Intelligent Document Processing
Automate derivatives sales pitch creation processes and enhance corporate risk scoring.
The magical promise of artificial intelligence is that it learns as it goes along and develops additional data insights that enable your organization to make rapid progress. Now Adaptive AI has been identified by Gartner as one of the top 10 emerging trends for 2023, taking AI capabilities to the next level where it is able to absorb learnings even as it’s being built. They estimate that by 2026, enterprises that have adopted AI engineering practices to build and manage adaptive AI systems will outperform their peers in the operationalizing AI models by at least 25%. In a recent Gartner article, they write: "Adaptive AI brings together a set of methods (i.e. agent-based design) and AI techniques (i.e. reinforcement learning) to enable systems to adjust their learning practices and behaviors so they can adapt to changing real-world circumstances while in production." What is Adaptive AI? So, what is Adaptive AI and how does it differ to our current understanding of how AI works? The key is that Adaptive AI can revise its own code to adjust for changes that weren’t known or predicted when the code was first written, enabling adaptability and resilience to be built into the design so that it can react immediately to changes. It means that the “learning” phase of a traditional AI system can be bypassed so that the AI is effectively learning whatever is happening. The value of operationalized AI lies in this ability to rapidly develop, deploy, adapt and maintain AI across different environments in the enterprise. AI models with this self-adaption built in can develop quicker and with less errors. It creates a faster and more superior user experience by adapting to changing real-world situations. Altilia at the forefront Altilia is at the forefront of this approach to optimizing artificial intelligence to take it to the next level. In our platform, we use reinforcement learning to improve the accuracy of our machine learning models over time. Also, as a method, we have designed a human-in-the-loop feedback cycle that allows users to trace back the extracted data points to the original source (i.e. the exact position within the document). This allows them to validate data, and the resulting feedback is taken into consideration to re-train the AI model. In this way the model can improve their accuracy over time and prevent data drifting. It also means that if the format or layout of the processed documents is gradually modified over time, the algorithm is capable of adapting without the need to refactor our solution. Why not schedule a demo of Altilia’s ground-breaking AI intelligent document processing solutions and see how it can revolutionize your organisation’s use of your data? You can sign up here for your demo.Read more
HyperAutomation (HA) is rapidly moving from just being an interesting proposition for highly innovative projects and applications to becoming a critical business need for organizations across any industry. Today, and in the coming months, the threat of possible recession scenarios, demands businesses make greater efforts to improve their cost efficiency, agility, productivity, and innovation-based resilience. According to a recent forecast by Gartner, by 2025 the HA software market is expected to reach a market value of nearly $860 billion worldwide, with a Compound Annual Growth Rate (CAGR) of 12.3%. Massive impact In this scenario, the impact of Intelligent Document Processing (IDP) platforms that are capable of integrating hybrid AI approaches based on computer vision, Neuro-linguistic Programming (NLP), knowledge representation, rule-based methods, and other AI technologies, will be massive. These platforms will accelerate digital transformation across most verticals, with highest adoption rates in industries like financial services (banking, insurance, investing etc.), telecommunications, media, utilities, manufacturing, and services. Use case applications will provide: Improved personal and organizational efficiency,Improved user interactions and satisfaction of both customers and employees,More efficient and agile work methods,Improved Robotic Process Automation (RPA) application potential for processes requiring human cognitive capabilities,Enhancements and performance improvements for pre-existing software solutions and systems within the organization, like RPA, ECM, ERP, CRM. Companies are increasingly experimenting and implementing solutions based on Intelligent Document Processing (IDP) and Intelligent Process Automation (IPA) approaches and tools. In parallel, we are witnessing a growing interest in Hybrid and Composite AI solutions that enable close interactions between machine and human intelligence, by combining semantic and ML approaches with no-code/low-code and conversational user interfaces (CUIs). This paradigm shift is enabling organizations to gradually change their approach for the automation of operational and decision-making tasks, involving business users more closely in the process. At this rate, in the next 3 to 5 years we expect some of the most advanced IDP capabilities to become a standard market requirement. This includes: The capability to ingest and process documents and contents from several different unstructured sources and in various formats.Semantic document and data indexing capabilities.Interfacing and interoperating capabilities with other applications in the customer’s software ecosystem.The ability to manage end-to-end business processes automation as a comprehensive suite or in tandem with other RPA solutions Additionally, in the companies where the RPA revolution is already taking place, we expect progress to move forward only as these solutions will become increasingly integrated with IDP platforms, in order to unlock the untapped potential of automating processes involving the handling of unstructured data present in documents, texts and other unstructured sources. These are exactly the kind of capabilities Altilia is pushing forward with the Altilia Intelligent Automation™ platform, setting the bar for end-to-end IDP platforms technological advancements. Over the next 3 to 5 years, Altilia will continue to address the increasingly complex HyperAutomation needs of organizations, acting as a strategic partner to facilitate customers' strategic investments in HA/IPA/IDP initiatives, from the simplest tactical implementations to the more disruptive and valuable innovations. For more information on how HyperAutomation can transform your business, contact Altilia here .Read more
As we have seen, HyperAutomation (HA) is becoming an important strategic trend for organizations seeking to rapidly identify and automate the latest possible number of business processes to drive efficiency, agility and productivity. The HA label, as identified by Gartner, brings together a range of AI and automation technologies – and, most importantly, a determination to break away from a siloed approach to address multiple labour-intensive workflows holistically. Typical use case applications for Intelligent Document Processing (IDP) and Intelligent Process Automation (IPA) technologies can be found in both front and back office processes of organizations of any size in any industry, including Public Administration. Some typical use cases include the following: Banking and Insurance customer onboarding operations that require the reading of ID documents, financial documents and income statements.File verification and validation in Public Administration, requiring data extraction from very large and varied sets of documents.In the field of legal contract management, support for terms and clauses interpretation and verification.Automated reading and classification of contents from regulatory compliance reports for Risk Management and Internal Audit purposes.Automating procurement and sales operations processes, like reading and extracting data from orders, payments, contracts, invoices and bills, is becoming an increasingly common practice. Some even more advanced use case scenarios include: Automated documents and images processing for insurance claims management.Automated data collection from balance sheets, notes to balance sheets, business plans and financial statements for credit scoring purposes in the mortgage and lending management process.Automating ESG (Environmental Social & Governance) company profiling, based on the information and data extracted from multiple sources, like annual reports, sustainability reports, websites, news, etc.Supporting NPL (Non-Performing Loan) and UTP (Unlikely To Pay) portfolio evaluation, by automating data extraction and collection from complex documents for the effective assessment of distressed credit.Automated reading of medical records and clinical trial results for patient management and new drugs development in the Healthcare and Pharma industries Typically, the end-goal of these applications is to drastically reduce the manual work time required to read and interpret documents, to cut down data entry operations and to enable automatic verification procedures in support of sophisticated operational and decision-making processes. A comprehensive IDP solution such as the Altilia Intelligent Automation™ platform can bring important advantages both in terms of efficiency and cost reduction, leading to end results often exceeding a 100% ROI, based on the total costs of ownership. This is possible as an organization gains the ability to: Speed-up business processes by up to 10 times.Upscale document processing capabilities, according to real data volumes and business needs.Reduce manual errors and oversights.Drastically reduce the manual work (often by more than 80%).Improve employee satisfaction, by reducing the time spent on tedious and repetitive manual tasks (like data entry, document reading and inspection).Improve customer satisfaction as processes are handheld more quickly and accurately.Increase overall margins, as the improved access to data and information allows business leaders to make more informed and timely decisions. For Altilia’s customers, an IDP platform represents a strategic investment to meet all their HA needs arising over time, allowing them to both scale up existing use cases to meet increasing business demand, as well as creating and deploying new domain-specific use cases with a unified approach. To learn more and have a chat with Altilia's automation experts, contact us here .Read more