Widespread Recognition Continues for Leader in Hybrid AI Natural Language Understanding
Expert.ai (EXAI:IM), the leader in artificial intelligence (AI) for language understanding, has been named the winner in the 6th Annual FinTech Breakthrough Awards for “Best Use of AI in FinTech.” Attracting nearly 4,000 submissions from across the globe, the program is conducted by FinTech Breakthrough, a leading market intelligence organization, and showcases the technologies and companies that drive innovation and exemplify the best in FinTech solutions.
IDC projects 80% of data will be unstructured by 2025, further estimating less than 5% of all data is now being analyzed. The natural language understanding (NLU) capabilities provided by expert.ai can make sense of this unstructured data, typically in the form of language, and transform it into practical knowledge and actionable insight. Now, financial services firms can leverage language residing in documents and applications using natural language to automate processes and enhance manual data analysis, solving multiple business challenges. A few examples include:
- Digital Customer Interaction: Optimizes self-service systems, chatbots and email management.
- Risk Management: Empowers anti-money laundering (AML), Know Your Customer (KYC) and Know Your Supplier (KYS) third-party risk monitoring with intelligent data access and analysis.
- Intelligent Robotic Process Automation (RPA): Expands RPA by enabling bots with data from complex documents to automate front and back-office processes, loan origination and customer onboarding.
- Legal Compliance and Contract Analytics: Applies NLU to review legal documents for compliance and can assess the impact of new regulations or new content on bank contracts and policies.
- Corporate Intelligence: Rich information analysis supports strategic decision making, minimizes risk and eases investment management.
“This honor validates our approach to AI and its application to financial services,” said Keith C. Lincoln, CMO, expert.ai. “By leveraging a hybrid NL Platform that combines the best of human-like knowledge and language understanding with the data processing power of machine learning, we can deliver insight at scale, with outcomes that are accurate and explainable. This allows organizations to capitalize on their strategic unstructured language data, accelerate decision making, and better meet the demands of customers and regulators.”
The expert.ai Platform offers the ability to deploy AI NLU in any application and across any domain at scale with the accuracy required by today’s business world. It integrates a core language engine that combines knowledge and learning approaches with tools to reduce cost and complexity, speed deployment, and serve the enterprise from the data practice to the business user.
The FinTech Breakthrough Awards thoroughly evaluates the technology sector to recognize the creativity, hard work and success of the most innovative companies and solutions. Judges are senior professionals that have worked within the financial services industry, including journalists, analysts and top technology executives. For a complete list of this year’s winners, please visit 2022 Winners – FinTech Breakthrough Awards.
