Artificial intelligence in industry

Artificial intelligence offers great opportunities for the industry. Through the use of AI, industrial companies are supported in various activities and benefit from an optimization of processes. Use the Konfuzio platform to train our AI specifically for your applications. We support you with the ideal technical environment and the necessary know-how.

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Data & AI in the industry

More and more data is being generated by the digital transformation. The use of artificial intelligence helps engineers and data scientists to structure and evaluate the huge amounts of data. In industry, AI applications span the entire lifecycle. Intelligent recommendations and automatic data processing optimize the type and speed of both production and back-office activities.

The focus is on processes that are associated with extensive manual steps and a high expenditure of time. This includes, for example, contract and order management, structuring of payment notifications and evaluation of (handwritten) forms or documents. Konfuzio helps to digitize your administration and increases the net market time. Thus, more customer contact and thus more business can be generated from the existing working time.

Contract management through AI in industrial companies

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Challenge

In companies, employees spend about 22 minutes a day or 11 working days a year searching for the required information in contracts.

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How can Konfuzio help?

Konfuzio converts contracts into a machine readable form. Our artificial intelligence recognizes the important elements in contracts that can span hundreds of pages thanks to pre-trained AI-models or models specially trained by the customer.

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Solution

The transformation of Konfuzio reduces the search time considerably and guarantees a stable contract management with a good overview.

Contract industry sample
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    You will receive the handout free of charge by e-mail.

    Industrial companies use AI to process payment advices

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    Challenge

    More than 20% of the largest companies still employ about 21 accountants per $1 billion in revenue. If each of these employees made up to 50 entries a day, you would have more than 1000 manual transactions a day for a company with $1 billion in revenue.

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    How can Konfuzio help?

    Konfuzio recognizes the required data such as names, addresses, invoice amounts or invoice dates and assigns them to the respective suppliers.

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    Solution

    Thanks to Konfuzio, these accounting processes are significantly accelerated and employees are often spared monotonous work so they can focus on other more important issues.

    Payment advice AI

    AI in industrial companies processes invoices automatically

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    Challenge

    The management of liabilities through the processing of invoices, accepting orders or using payment terms represents a huge cost factor for smaller companies.

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    How can Konfuzio help?

    We helped a German medium-sized company with the elimination of the auditing of accounts by having our software analyze the necessary invoice documents, check them for correctness and structure them accordingly.

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    Solution

    With the Konfuzio solution, invoices, payment notifications and purchase orders can be transferred directly into SAP without lengthy invoice checks.

    Liquidity Management Invoice KI
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