Banco Galicia, together with etermax AI Labs, implements an automation process to delegate repetitive tasks to artificial intelligence, allowing their team to focus on analyzing data and making better decisions.
Operational efficiency, cost reduction, and improved competitiveness in response to new consumer habits are three key processes that companies need and have been the driving force behind embracing digital transformation.
However, this transformation is not magical. Before implementing technology, it is important to have a clear understanding of the business objectives and desired outcomes. Designing from the beginning how to scale artificial intelligence (AI) capabilities for better results is the key to success.
The management of documents and information plays a crucial role in the journey towards the digital transformation of organizations. One of the main challenges is the automatic extraction and classification of information, which can be a highly repetitive and time-consuming task when done manually. Every two years, all existing information doubles. With the emergence of the internet, social networks, cell phones, GPS, and smart devices, there has been an explosion of data in terms of volume (which grows exponentially every day) and variety. Standardizing and structuring information is a complex task for companies.
The challenge: more volume, less time
One of the most dynamic sectors in terms of digital transformation due to the advancement of online transactions and the exponential growth of data is the banking industry. Banco Galicia, in particular, has faced challenges in processing documents, such as statutes, balance sheets, and court documents. The institution’s primary responsibility in this regard is to provide information to the judiciary within the requested timeframe, which is typically around 48 hours from the time the request is sent. Due to the large number of documents to process, the team was experiencing delays in delivering the requested information.
With this identified challenge, Artificial Intelligence emerged as an ally of transformation. Its implementation allows for the comprehensive processing and automation of documents to extract, classify, and quantify information, avoiding tedious and repetitive processes. By delegating this work to machines, AI fosters creativity and curiosity in people, allowing them to focus on more creative tasks.
The solution: automation for continuous improvement
The need to extract and classify information in a timely manner led Banco Galicia to develop, in collaboration with etermax AI Labs, a program that automates data analysis using Artificial Intelligence, specifically Deep Learning and Natural Language Processing (NLP). The implementation of this technology not only provides high performance for document processing but also allows the bank’s legal areas to prioritize other value-added activities.
Comprehensive services for change
Since its foundation, etermax AI Labs has been known for offering integrated solutions tailored to the needs of each client to achieve their goals. Banco Galicia and etermax AI Labs worked together, following an agile cell model, to develop NLP-based solutions. To streamline and facilitate everyday work processes, a cognitive platform was designed for the specific processing of legal documents, such as court documents, balance sheets, and statutes.
How does the automation process work and what are its benefits?
For the design of the platform and the construction of the model, the first step was to define the entities to be extracted. The second task involved collecting a set of documents for training, validation, and testing. Then, the labeling manual was drafted to label the documents, educating the system to identify the information to be extracted from each document. Finally, the model was trained, and performance metrics were evaluated to detect any flaws.
Once the training was completed, the production model was implemented, allowing for user feedback collection and metric monitoring. This enables the identification of improvement opportunities and, as a final step, retraining the model. A significant advantage of this technology is its ability to facilitate continuous learning and training to achieve higher levels of perfection.
Results: positive impact on the team
Based on the metrics, the results were outstanding. With a workload of 5,000 documents to process and release for the legal team, the model achieved over 80% accuracy.
Benefits of automating legal documents
Once the AI reads and classifies the document, users only need to verify the highlighted data that is requested. This achieves the objective of streamlining and facilitating everyday work processes by automating tasks comprehensively. The numbers are clear in the case of Banco Galicia. Thanks to this implementation of AI, which helps enhance the capacity of departments to process documents and accelerate response times, previously time-consuming tasks that took individuals between 15-30 minutes to extract, classify, and quantify information have been reduced to just 1 minute and 38 seconds
“Companies that work on implementing automatic document reading will have a great advantage in the short term. In two years, the automation of these processes will be as natural as QR code payments are today. Automation through AI is here to complement human work.”
Francisco Fernandez, Project & Account Manager at etermax AI Labs
“This platform is the result of the collaboration between an innovation leader like Banco Galicia and a company like etermax AI Labs, which always aims to push the boundaries.”
Banco Galicia
Despite resistance to change, one of the clearest challenges of digital transformation, new technologies prevail. The benefits are concrete: increased productivity, the creation of new jobs and industries, and an improved standard of living. Undoubtedly, artificial intelligence is already key to many processes in companies. This is evident in companies like Banco Galicia, which has adopted automation to enhance the capabilities of its talents, resulting in increased efficiency and coherence.