One of the most popular use cases for AI in financial services is to leverage the technology to help companies deal with the challenge and opportunity of unstructured data.
In our latest Streamly interview from FinovateFall last month, Finovate VP and host Greg Palmer sits down with Perry Rotella, Managing Director of Financial Services at Box, to discuss the growth of unstructured data within financial institutions, the challenges these firms face in managing this data, and the role AI can play in helping them analyze unstructured data to enhance everything from personalization to compliance.
“Unstructured data really represents the vast majority of data in organizations. IDC did a study last year that found that 90% of an organization’s data is unstructured. And it’s been really challenging to extract insights out of that data at scale. What we’ve been finding working with customers is we can supercharge pulling insights out of that content, driving workflows for downstream processing, and really look across many documents to summarize and personalize communications with clients.”
The “Intelligent Content Cloud” company, Box offers a single platform that enables organizations to drive collaboration, manage the content lifecycle, secure critical content, and transform business workflows using enterprise AI. Founded in 2005 and headquartered in Redwood City, California, Box includes AstraZeneca, Morgan Stanley, and Nationwide among its customers.
In his role as Managing Director, Financial Services, Rotella provides leadership across product, marketing, business development, sales, and customer success teams. He is responsible for driving engagement with key strategic accounts, as well as customer satisfaction and retention.
Box’s platform utilizes AI to help organizations manage their unstructured data more efficiently. By using AI technology, organizations can extract valuable insights from their data at scale, enabling them to enhance workflows, personalize communications with clients, and ensure compliance with regulations.
For financial institutions, managing unstructured data has become increasingly complex due to the sheer volume of data being generated. With AI-powered tools, organizations can streamline this process and gain actionable insights that drive business growth.
AI has the ability to sift through vast amounts of unstructured data to identify patterns, trends, and anomalies that would be difficult, if not impossible, for humans to detect. By leveraging AI, organizations can make better decisions, improve operational efficiency, and enhance customer experiences.
Perry Rotella, as Managing Director of Financial Services at Box, is at the forefront of helping financial institutions leverage AI to manage their unstructured data more effectively. With his leadership, Box is empowering organizations to make data-driven decisions that lead to greater success and competitiveness in the market.
Box’s commitment to providing innovative solutions for the financial services industry has garnered the trust and partnership of leading companies such as AstraZeneca, Morgan Stanley, and Nationwide. By using Box’s platform, these organizations have been able to enhance collaboration, streamline content management, and drive business growth through AI-powered workflows.
In conclusion, the use of AI in financial services to manage unstructured data is transforming the way organizations operate. By leveraging AI technology, companies can unlock the full potential of their data, driving innovation, efficiency, and growth. As the financial services industry continues to evolve, AI will play an increasingly important role in helping organizations stay ahead of the curve and adapt to changing market dynamics.
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