Home › Insight › Revolutionizing Automation with AI Models

Revolutionizing Automation with AI Models

by Jason Dzamba - June 8, 2023

In the rapidly evolving landscape of intelligent automation, one technology has emerged as a game-changer: Intelligent Document Processing (IDP). We spoke with Gabe Skelton, Director of Fintech Automation, to shed light on this transformative field using Documents with GPT.

In a candid conversation, Gabe highlighted the key trends and developments in IDP, its implications for the financial sector, and integrating IDP into automation platforms.

Understanding AI Models

The Power of AI in Document Processing Gabe explained that IDP represents a significant leap from traditional Optical Character Recognition (OCR) technology. While OCR allows for the automatic reading of documents, IDP takes it a step further by extracting valuable data from those documents. This breakthrough is achieved by integrating artificial intelligence (AI) and generative models, enabling accurate data extraction regardless of changing document formats.

The Role of AI and Generative Models

IDP mimics human intelligence to interpret documents accurately by leveraging large language models and generative AI. Gabe drew a parallel between machine learning algorithms and a toddler, relying on pattern recognition. In contrast, IDP powered by generative AI resembles a knowledgeable adult, utilizing extensive data repositories to understand and extract data with enhanced speed and accuracy.

Benefits for the Financial Sector

In the highly regulated financial industry, security and compliance are paramount. IDP solutions built on Microsoft’s GPT (Generative Pre-trained Transformer) API provide robust data protection, like Documents with GPT. Unlike open AI models with fewer safeguards, this approach ensures that client data remains confidential and secure.

IDP allows banks and lenders to automate complex tasks, such as locating signatures, verifying notary stamps, and categorizing document sections. This streamlines operations reduces manual efforts, and accelerates the overall document processing workflow.

Integrating IDP into Automation Platforms

To achieve end-to-end automation, IDP seamlessly integrates with automation platforms and bots. Bots retrieve documents from various sources, including folders, core systems, emails, or websites, and feed them into the IDP engine.

Once data extraction is complete, the bot handles the processed data and integrates it into the desired systems or applications. This integration enhances operational efficiency and reduces human intervention, enabling employees to focus on higher-value tasks.

The Future of Document Processing

As IDP gains momentum, its potential applications continue to expand. Gabe mentioned scenarios where IDP assists in complex tasks, such as extracting and comparing facial images from driver’s licenses, streamlining loan package reviews, and identifying relevant sections within extensive documents. With the ability to automate these intricate processes, IDP offers immense potential for industries beyond banking and finance.

Security and Trust: A Top Priority

Gabe emphasized the importance of data security and trust. IDP solutions built on Microsoft’s GPT API ensure that data is not used for training models or unauthorized purposes. Compliance certifications like SOC 2 and HIPAA further validate the platform’s commitment to safeguarding client information. By adhering to industry standards, IDP establishes itself as a reliable and secure solution for document processing needs.

The Promising Future of AI Models

Intelligent Document Processing is poised to revolutionize document processing across industries with its ability to extract valuable data accurately and efficiently. Integrating AI, generative models, and automation platforms empowers businesses to streamline operations, reduce manual efforts, and enhance overall efficiency.

As organizations look to embrace digital transformation, IDP represents a powerful tool in their automation arsenal, enabling them to unlock new levels of productivity and strategic focus.

In the ever-evolving landscape of intelligent automation, Documents with GPT stands out as a beacon of innovation, reshaping how businesses handle document processing. With its potential to automate document data instantly and accurately, it can handle complex tasks that require data security and compliance.

Need help preparing your organization for an automated future? Talk to our experts for a free automation consultation.

About Jason Dzamba

Director of Media Relations, Productivity Strategist, and Host of Inside the Bot Podcast, Jason uses a process-driven approach to help leaders optimize their actions and achieve their most important business objectives. His creative outlet is painting abstract art and producing music. He lives in Orlando, Florida, with his three kids.