There’s no avoiding it, in today’s society and markets everything changes at great speed. Against that background, the tool that can help companies adapt to the new times and be more competitive is Artificial Intelligence, AI. Automation becomes essential to gain time and reliability. In this sense, the automation of document processes will be key in the future. The days are numbered for these manual processes as customers face new risks and demands that can come from anywhere in the world, 24 hours a day, 7 days a week.
AI opens up endless possibilities, but it is true that there is some resistance. According to the Gartner Report, the value of businesses resulting from the implementation of AI will be as much $1.2 trillion. With an estimated 70% growth, this figure could reach $4 trillion by 2022.
Where are we now?
The truth is that there is a gap between expectations and reality. In Spain, according to the Report, only 23% of companies have AI solutions in their production processes or in their roadmap. The main problem is that 48% of managers believe that this technology will not have any effects in the short or medium term. However, looking at the data from the Report, they are wrong.
We understand that this gap can be explained by looking at how we think about our processes. The key will be how we set about thinking about the future. The question we need to ask ourselves is how customers are going to ask us to carry out these processes. We are talking about a key issue that positions us at the forefront of a competitive market. We have to be able to provide a solution to the future needs of our customers.
How can we adapt?
Process automation allows us to greatly reduce the time taken and, consequently, the costs. At Serimag we offer a digital back-office service to businesses and our main mission is to automate document processes. We use AI engines incorporating our own technology to achieve this automation. Instant contract validation is a good example of what can be done. Taking lending decisions in 15 seconds or instantly checking if a contract is signed correctly are things that without artificial intelligence would not be possible without human intervention. All this with the maximum guarantees of regulatory compliance, avoidance of fraud and procedural errors.