Éric Marcotte
Manager | M. Sc. | Digital and technology consulting

Artificial intelligence makes it possible for businesses of all sizes to automate processes and carryout tasks that had been previously been impossible to achieve. The result is that businesses are more efficient and stand out in their industry.

This is the particular case of one of our clients, a financial sector organization. This major institutional investor has benefitted from new strategic monitoring opportunities thanks to a natural language processing solution developed by our team specialized in artificial intelligence (AI) and advanced analytics.

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Achieving the impossible

Our client wanted to identify a significant number of details on all transactions in a particular sector. It therefore needed a tool to collect and structure information in order to enrich its knowledge for competitive monitoring purposes.

Developing such a tool represented a gargantuan task that was practically impossible with traditional methods because it requires processing thousands of articles published by a variety of sources with the purpose of extracting only relevant data.

The aim was to give the organization the means to achieve its ambitions by creating a solution perfectly adapted to its needs, in collaboration with its innovation team.

Our specialists developed a customized language understanding tool that allows our client to automate information collection and build a valuable database. Its employees can now quickly and easily search through this database according to various parameters.

In this type of assignment, it’s possible to add technological modules to meet clients’ other needs.

For example, we are developing a second tool for this organization that will gather factual data and comments related to its business partners in its various activity sectors, while filtering thousands of information sources.

Invaluable benefits

Thanks to our solution, our client will have a bank of knowledge at its disposal that will enable it to better identify business opportunities and risks and analyze trends of the industries and geographical markets in which it invests in great depth. In other words, our tool will allow the client to always be completely informed about what its competitors are doing and what is going on in the market.

In today’s highly competitive world, information is the key issue. Businesses that stand out are those that are able to efficiently gather and analyze all available information, be it about their market, trends, consumer expectations, technological innovations or other.

Whether it’s to take advantage of new opportunities, as our client has done, or to automate certain processes to improve productivity, AI tools have multiple applications.

In addition to strategic monitoring, natural language processing solutions can be used to collect and structure all legal information across a business’s documents and correspondence. They can extract, collect and structure information pertaining to the client experience or sales cycle to improve customer service or the sales process.

These solutions are also very useful when analyzing documentation during a due diligence process or to extract social media information.

Furthermore, in connection with AI projects, not only are we working with our clients to develop tailored solutions, but we’re also sharing our knowledge so that they can use these tools autonomously. Building on the solution implemented, clients regularly develop new applications to expand on the initially planned uses.

PME Innovation and technologie - RCGT

18 Jun 2019  |  Written by :

Éric Marcotte is an artificial intelligence expert at Raymond Chabot Grant Thornton. Contact him...

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