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customer and user experience , improved efficiency , and cost savings .
With the current state of technology , it has never been easier to digitise end-toend processes that include IDP . Whereas adding a new document type took several days or weeks with the previous generation of AI ( supervised learning from a dataset with thousands of labelled examples ), with a novel Large Language Model-based approach this can now be achieved in as little as 30 minutes .
The use of AI and automation within the financial services industry is certainly growing – with 75 % of firms already using
AI and a further 10 % planning to use it over the next three years .
However , it is now time for organisations to consider where the true benefits of AI really lie within their organisation .
Whilst the technology certainly has an important part to play in front-end customisation and personalisation of services , the back-end mundane processes that could benefit significantly from the technology , should not be forgotten . Only by taking a holistic approach to transformation can financial service organisations continue to thrive in the digital age . �
IT IS NOW TIME FOR ORGANISATIONS TO CONSIDER WHERE THE TRUE BENEFITS OF AI REALLY LIE WITHIN THEIR ORGANISATION . no longer have to perform monotonous tasks , they are likely to feel more valued and motivated , and more productive as a result . With workloads spiralling across most industries , empowering employees in their roles has never been more important and AI-driven automation is already having a huge impact .
A joined-up approach
Whilst the benefits of introducing automation into back-end processes such as document processing are evident , these become even stronger when integrated intelligently and aligned with other AI-driven capabilities across the business . In other words , to be truly impactful , automated document processing shouldn ’ t exist in isolation . By taking a platform approach , organisations in the financial services sector can begin to transform and connect with systems beyond document processing and achieve end-to-end integration with unified workflows that power better
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