Q and A with Sinuhe Arroyo, CEO of TAIGER
How are AI and Knowledge Process Automation going to help the UAE meet its sustainable infrastructure goals?
Knowledge Process Automation/Optimisation or Knowledge Worker Automation (KWA) refers to a style of automation where back-end installed software integrates with an organization’s core systems through APIs as part of an overarching organizational transformation initiative. KWA or KPO automates complex cognitive tasks involving comprehension, intelligence, skill, and judgement complementing Business Process Automation (BPA).
With this, organizations in the UAE will be able to automate, simplify, and improve tasks that require specialized intelligence. An example of this would be the automating of medical claims processing and reimbursement or the digital automation of processing trade settlements.
To build a sustainable business and technology infrastructure in UAE, organizations must be able to harness technology that is scalable and applicable to tasks of all levels of complexity. This is where KWA comes in to process large amounts of unstructured data or to significantly cut down on the manual human effort that is needed – this helps organizations improve efficiency, save cost, and reduce risk – critical factors that can ensure sustainability of businesses in UAE.
How is TAIGER helping companies, especially in the logistics sector, go paperless?
Document processing exists in every industry. It is skilled labor intensive and costly, making it difficult for organizations to scale their operations. Artificial Intelligence (AI) can be harnessed to implement a paperless strategy, but it takes a special set of AI technologies to emulate human-like intelligence and propel organizations towards a true paperless work environment. TAIGER’s patented approach of melding various AI disciplines to process unstructured data (such as power of attorney, board of resolution etc.) and structured documents yields an industry leading accuracy rate of more than 85%. This is also backed up by the contractual KPI we work with clients to determine and achieve, helping banks and government agencies to reduce paper-driven processes, save costs and processing time.
As an example, TAIGER worked with Santander Bank in Spain to transform the way they onboard non-customer SMEs. By automating and digitalizing the main steps of onboarding, Santander successfully reduced the time taken for new customers to open an account from an average of seven days to just 15 minutes compared to the traditional in-branch process. Through the implementation of this entire project, SMEs that have never banked with Santander can now open an account 100% digitally, through web or app, without the need to go to a branch and eliminating the need for cumbersome paperwork.
What are some of the key challenges to going paperless?
While many organizations see the need to go paperless, many of them are still uncertain about how best to do it, given that the manual processes that currently exists in their organizations have served them well over the years. And, while many organizations also know that AI can help with them going paperless, many of them are still unclear of the ROI of investing in AI.
To address this, we need to demystify AI and provide a clear roadmap for organizations as they look to start implementing AI to embark on their paperless business process journey. Business leaders need to start identifying the correct AI strategy and approach, implementing it in a highly scalable way to harness the value of their structured data, unstructured data. This is a key first step to unlocking phasing out cumbersome paperwork in the business environment.