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Businesses use AI to improve customer experience

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Chatbots, virtual agents, computer vision and other AI-related technologies on display at a recent tech conference are being used to improve customer experience.

Sources:

Tech Target 
David Needle, July 29, 2019

CX was front and center at the recent VentureBeat Transform 2019 conference, as several different companies showcased how they are using AI to improve customer experience.

AI Foundry uses AI and computer vision to speed the mortgage approval process from several weeks to a few days. Steve Butler, president and founder of AI Foundry, a Kodak Alaris business unit, said its intelligent process automation platform can be applied to many different industries, but it's going after mortgages first.

"In the mortgage industry, there is a mass labor pool that classifies and extracts hundreds of different document types, extracts thousands of fields of data from those documents and then performs hundreds of business rules to verify quality and compliance of those documents," Butler said.

The company uses AI to improve customer experience by integrating deep learning machine vision with virtual robots into the intelligent process platform to identify, retrieve and organize relevant information. AI Foundry showcased a new cloud service that any lender can use to upload, analyze and index loan documents from a prospective customer in a matter of seconds.

Butler said the accuracy is around 95%, which is close to human accuracy over a much longer time period. It also covers 300 different document types and more than 2,000 field extractions.

In a demo, the company showed how the system flagged an appraisal estimate that was too low for the loan amount. Behind the scenes, AI Foundry uses computer vision to identify key elements of a document and what needs to be extracted to advance the mortgage application. The company uses the same visual techniques that Google Photo does to identify a cat or dog in a photograph.

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