Unlock The Next Stage of Data Capture with Generative AI
We are using AI in more ways than we realise, offering us efficiency and time savings. AI and data capture are complementary technologies which can help a business streamline the flow of information through the business, manage the information and even monetise it.
Why Add Generative AI to Your Data Capture: Benefits
Enhanced Accuracy:
Generative AI models can be trained with vast datasets of diverse document types, enabling them to accurately extract information; even from complex or poorly formatted documents. This reduces errors associated with manual data entry and improves overall data quality. For example, Generative AI can be used to identify key information like invoice numbers, dates, and totals with significantly higher accuracy compared to most modern data capture tools. This translates to fewer errors and less need for manual validation.
Increased Efficiency:
By automating data capture, Generative AI significantly reduces manual effort and saves valuable time. This allows businesses to process larger volumes of documents faster, freeing up employees to focus on high-value tasks. Imagine processing thousands of invoices daily with minimal human intervention – Generative AI makes this a reality.
Improved Flexibility:
Generative AI can handle a wide range of document formats, including structured, semi-structured, and unstructured data. It can also adapt to changing business needs and evolving document formats, ensuring long-term scalability and agility. Whether it's a scanned image, a PDF, or a handwritten form, Generative AI can extract the necessary information.
Elevate customer experiences
Improve customer service with quick, personalised, and reliable interactions and increase customer satisfaction by 39%.
Minimise errors
Half of all organisations identify the increased risk of errors and data discrepancies as a primary challenge. Mitigate costly mistakes by reducing touchpoints in data entry, ensuring data integrity and reliability.
Save costs
Achieve a 38% reduction in costs with intelligent automation, which streamlines operations and enhances efficiency, contributing to overall financial health and sustainability.
What a Gen AI Solution Could Look Like:
AI-Powered Document Extraction
Reduce the time and cost of creating document extraction models. Use Generative AI to automatically identify and extract key data points from various document types, boosting straight-through processing rates and improving results. This could significantly reduce the reliance on manual configuration and maintenance of extraction rules.
Intelligent Data Insights
Leverage Generative AI to analyse unstructured data and unlock valuable insights. Users can interact with their data through natural language queries, asking questions and receiving instant answers with annotations back to the source document. This would empower faster, more accurate decision-making based on data extracted from diverse document formats.
Automated Workflow Generation
Use Generative AI to streamline the creation of automated workflows. Imagine describing a desired workflow in natural language or even uploading a hand-drawn sketch, then letting AI generate the underlying configuration. This would simplify development and accelerate the implementation of automation projects.
We provide the technologies and services you need to manage your digital documents and automate your business processes, helping you accelerate growth, increase efficiency, and mitigate risk.
Use Cases for Generative AI in Data Capture
Organisations across the UK are finding innovative ways to integrate Generative AI to manage and extract value from their data. Here are some examples of its potential:
Automated Invoice Processing:
Automatically extract key information from invoices, such as supplier details, invoice numbers, line items, and payment terms, reducing manual data entry and processing time. This is particularly valuable for businesses dealing with high volumes of invoices from various suppliers in diverse formats.
Onboarding and Identity Verification:
Extract the information from identity documents, like passports or driving licences, streamlining any onboarding processes and improving compliance with regulations (such as Know Your Customer). This is invaluable for financial services, e-commerce, and other industries requiring robust identity verification.
Contract Analysis and Summarisation:
Complex legal documents, such as contracts, can now be analyse in seconds. Gen AI can extract key clauses, identifying risks, and generating summaries , leading to a reduction in the time and cost of contract review for legal departments and procurement teams.
Medical Records Processing:
The NHS or private sector can use Gen AI to extract information from medical records, such as medical history, diagnoses, and treatment plans, improving efficiency and accuracy in data management. This will support clinical decision-making and enhance patient care.
Automated Form Processing:
A range of organisations will be able to process different forms, like insurance claims or application forms in seconds. Reducing the time taken to process these documents, speed up the time to the end result and reduce the likelihood of human error.
Future of Generative AI in Data Capture
The field of Generative AI in data capture is constantly evolving. Emerging trends include:
Improved Multimodal Processing
Combining text, image, and other data modalities for more comprehensive information extraction.
Enhanced Natural Language Understanding (NLU)
Enabling more sophisticated understanding of document content and context.
Personalised Data Capture
Tailoring data extraction processes to individual user preferences and needs