dan fiehn
dan fiehn

+44 (0)7788 591000  |  Info@fiehn.co.uk

This week, what is Document AI? How you can effectively unlock new value in paperwork.

 

Welcome to The Digital Eye, your weekly roundup of the latest technology news. 

Our team of experts has scoured the internet for the most exciting and informative articles so that you can stay up-to-date on Digital, Data, Blockchain, AI & Analytics, and Digital Transformation.

Follow on LinkedIn

Artificial Intelligence Has An Achilles Heel: Data

Getting a full grasp of the data needed to assure greater accuracy in output will open doors to more advanced forms of AI.

Artificial intelligence just doesn’t pop up when you install tools and software. It takes planning and, most of all, it takes data. But getting the right data to make AI and machine learning algorithms — and understanding it — is where many organizations are slipping up, a recent study finds.

Organizations face difficulties with data silos, explainability, and transparency, a study of 150 data executives commissioned by Capital One and Forrester Consulting finds. They say internal, cross-organizational, and external data silos slowed machine learning deployments and outcomes. A majority, 57% of respondents, believe silos between data scientists and practitioners inhibit deployments, and 38% agree that they need to break down data silos across the organization and partners. More than a third, 36%, say working with large, diverse, messy data sets is a challenge.

 

LuckyTruck raises $2.4M for insurtech, taps industry veteran as CEO

Company automates 3-day process down to 10 minutes

 

Insurtech company LuckyTruck announced Thursday it has raised a $2.4 million seed extension led by Candid Insurance Investors with participation from Markd, Draper University Ventures and SiriusPoint as the company scales its retail insurance platform that reduces time spent shopping insurance. Since its founding in 2019, LuckyTruck has raised a total of $6.5 million.

While founder and president Devin Bostick is new to the trucking industry, he has dedicated the past three years to consuming industry data, learning from leaders in the space and combining his past work in venture capital and insurance to give fleet operators an insurance experience that mirrors a modern insurance practice.

 

 

Generally Intelligent secures cash from OpenAI vets to build capable AI systems

Will Generally Intelligent prove the sceptics wrong?

A new AI research company is launching out of stealth today with an ambitious goal: to research the fundamentals of human intelligence that machines currently lack. Called Generally Intelligent, it plans to do this by turning these fundamentals into an array of tasks to be solved and by designing and testing different systems’ ability to learn to solve them in highly complex 3D worlds built by their team.

“We believe that generally intelligent computers will someday unlock extraordinary potential for human creativity and insight,” CEO Kanjun Qiu told TechCrunch in an email interview. “However, today’s AI models are missing several key elements of human intelligence, which inhibits the development of general-purpose AI systems that can be deployed safely … Generally Intelligent’s work aims to understand the fundamentals of human intelligence in order to engineer safe AI systems that can learn and understand the way humans do.”

 

    India Is A Digital Finance Leader And Poised For Explosive Growth

    Digitisation in India builds on the foundation of Aadhaar, a biometric identification program that has enrolled more than one billion people.

    For India, digitization is a part, although a large part, of the country’s ambitious modernization program.

    “India is building a digital country and I think that’s what is going to serve it well over the next decade,” wrote Ajay Krishnan, lead portfolio manager for the $425 million Wasatch Emerging Markets Select Fund, in a report released in May 2022. Investment analysts from Wasatch Global Investors, based in Salt Lake City, Utah, have been visiting India for more than 20 years and think it has already accomplished substantial digitization and is poised for more rapid growth.

    Lay foundations for success by determining automation’s potential value, improving processes before automating and equipping the workforce with critical automation skills.

    A recent Gartner survey of 304 infrastructure and operations (I&O) leaders and their teams found that 85% of I&O leaders that do not currently have any full automation expect to become more automated in the next two to three years.

    Given rising interest in I&O automation, Gartner predicts that by 2025, 70% of organizations will implement structured automation to deliver flexibility and efficiency. This is an increase from 20% of organizations who had implemented structured automation in 2021.

    Featured Article

     

    What is Document AI? How you can effectively unlock new value in paperwork

    By automating processes that formerly required human input, AI helps businesses run more efficiently.

    What is Document AI? How you can effectively unlock new value in paperwork

    Article by @Marktechpost

    Technological breakthroughs have revolutionized the way individuals work and conduct business. For instance, people must develop skills that will enable them to find new jobs because it is predicted that automation could replace up to a third of all jobs by 2030.

    Consider the following to demonstrate how crucial document AI will be in the future: Did you know that 70% of enterprise documents are free-form text, such as written documents and emails? This indicates that the software used to automatically extract information and decode text from all of your documents has been processed (without human input). As a result, document AI has been made possible via machine learning. Thanks to these apps, businesses may now understand document-based data and use it for various purposes.

    Document AI uses machine learning to extract information from printed and digital documents. Users can learn from unstructured documents thanks to document AI’s ability to precisely detect text, characters, and pictures in many languages. Users of Document AI may quickly and effectively make judgments about the documents by using the data from the papers. By automating and verifying the data for the processes, the technology increases the efficiency of the document analysis process.

     

    THE DIGITAL EYE

    Follow on LinkedIn

    How to Maximise Knowledge Transfer Between Business and Engineering Teams

    In this week’s feature article, discover how to maximise knowledge transfer between business experts and technical engineers to ensure the success of your digital transformation. Learn about creating structured knowledge transfer plans, fostering a learning environment, employing diverse transfer methods, and building trust and collaboration. These strategies will help you bridge knowledge gaps, boost innovation, and enhance operational efficiency. Dive into our expert insights to master the art of seamless collaboration and drive your organisation’s digital transformation forward.

    Strategic Planning Approaches: Top-Down vs. Bottom-Up

    Unravel the complexities of strategic planning with our latest exploration into Strategic Planning Approaches. Whether you’re leaning towards a top-down, bottom-up, or sideways strategy, our insight will guide you through the pros and cons of each method, helping you make informed decisions that align with your business objectives. Perfect for strategists and business leaders aiming to optimize their planning process and drive effective outcomes.

    Digital Sustainability Practices: A Guide to Greener Habits

    Explore the transformative power of digital sustainability practices. This guide unveils how adopting eco-friendly digital habits can significantly reduce your carbon footprint and pave the way for a greener future. Dive into practical tips and strategies for making a positive environmental impact through digital activities.