Chat GPT and your business documents – IDP reality check vs hype cycle
Mar 28, 2023 by Cynthia Almonte
The dawn of ChatGPT: How it impacts your business documents
ChatGPT, OpenAI’s large language model (LLM), is a game-changer in the field of artificial intelligence (AI) and natural language programming (NLP). This cutting-edge platform can revolutionize the way we write book reports, essays, and other documents. But how will it affect day-to-day business processes? Can it truly move the needle inside enterprise organizations?
Few product updates have broken through the way OpenAI’s ChatGPT has. It’s more than marketing; it’s a profound leap forward, a fundamental step into a new level of AI awareness. ChatGPT will foster a new level of AI — shaping everyday lives as we’ve never seen before. Book reports and college essays will never be the same again.
But what about day-to-day business processes? Will this move the needle inside enterprise organizations?
What business wants from AI and what it needs AI to deliver
In the weeks since its release, many people have wondered how quickly large language models (LLM), like ChatGPT, will begin to change everyday business processes. The promise for enterprise business is nuanced with business problems across complexity levels, teams, and languages. And let’s face it; many people keep thinking — will ChatGPT make my job different or unnecessary?
At Automation Hero, we have evaluated and discussed business problems and AI with enterprise customers worldwide. Based on our experience evaluating automation potential across many enterprise business processes, we have a simple conclusion about the impact of AI. For individuals, AI won’t replace you, but a competitor using AI will move faster and can outpace your company. For companies, both threats and opportunities supported by AI will quickly evolve. ChatGPT has lit a fire.
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But what does ChatGTP mean for Intelligent Document Processing (IDP)? Will ChatGPT accelerate AI into a greater understanding of business documents? Since we deal with multinational enterprises daily, Automation Hero’s AI team knows firsthand how many remain stuck under a mountain of data-packed documents. These critical business processes typically require teams to manually rekey or scan and correct the data before they can truly reach their automation goals. And while the language understanding presented by ChatGPT are impressive, they fail to understand business documents at the semantic level. That’s where the models developed by Automation Hero come in. Let me explain.
Why true semantic understanding is critical
We know the promise of AI is not isolated to one step of the process. It’s support for the entire process that moves the needle. Lacking true AI vision, a critical piece of document understanding, ChatGPT cannot unlock documents with real understanding of the document itself. It is impressive as a large language model but misses the mark with many critical business processes.
Automation Hero has invested heavily in our text extraction capabilities to provide just that — real document understanding, delivering the user’s knowledge with the ‘best’ answer at the document level across more types of documents. Semantic understanding of a document is critical. Without it, no AI can return a true ‘best’ answer.
While AI is technically not required to run a competitive company, its importance to business decision-making is crucial. A company using AI will move faster, with greater confidence into more accurate decision-making and better ROI.
Unlock the intelligence in your documents with our AI-driven automation today
Learn how we helped Markerstudy reduce its claims processing time by 40%. Additionally, learn how we reduced total claim processing time by 80% for another multinational insurance partner — cutting down manual tasks from 10 minutes to just two minutes per claim.
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