Artificial Intelligence (AI) seems to be the solution to many business problems nowadays. There is no doubt that it is a trendy tech that wins directors’ and managers’ competitive edge. The reason is pretty simple, it can do everything that is required to be done with fewer resources, and in less time.
It would be impossible to shortlist all the benefits of AI for organizations. Yet we could attempt to cover some of the essential advantages for business leaders:
• AI saves resources and valuable time
• AI delivers insights for businesses
• Minimizes human errors
• Provides real-time help
• Assists in forecasting
• Provides effective data mining
• Enhances the customer experience
Artificial Intelligence tools provide organizations a huge competitive advantage that is also hard to be copied. Businesses can design better products or services that are finely customized to the target audience’s needs.
It could also minimize the business risk, the downtime of service, maximize effectiveness, and dramatically reduce expenses. The list of AI benefits can go really far. However, it would be better to provide a little more detail for a real case study to demonstrate what AI can help you achieve.
Keep reading this article to learn how an AI-empowered solution helped the leader in professional legal services to classify a huge volume of legal documents.
The Problem AI Had to Solve for the Legal Domain
Let’s see what the common practice in the Greek legislation system is. New laws usually include articles that modify existing legislation. These articles can be irrelevant to the main content of the law to be voted on.
Due to this pattern, interested parties find it really challenging to keep up with the evolution of the effective law that affects their interest. Not to mention that failing to follow the current laws may result in really harmful situations for any organization.
To handle this difficulty, the client followed methods of coding laws and manually classifying new legal documents. A significant number of lawyers was required and for a two-phase process:
a) primary classification and
b) random control and verification.
Bear in mind that new legislations are being produced almost every day by state officials. Thus, there were considerable disadvantages in managing this situation without any AI tools. The process required too many resources with increased costs. It was really slow, mostly ineffective, and there was an increased risk of errors.
How Ahedd Helped in This Case – The Solution
• The role of Ahedd
Ahedd is a Digital Innovation Hub for the economy of data and devices. The first thing to do is to identify the need of the client and conduct a business analysis. Then we should match this need with the technological competences of its partner, SciFY.
Working as a united entity, the client was provided with a single point-of-contact to build trust and facilitate all communication.
• The solution
SciFY, in close collaboration with ahedd, investigated the whole process and involved managers and end-users in the analysis to determine that the solution would be effective and really used.
The team concluded that SciFY had to create a “robotic” assistant that would search into thousands of texts, decide what they were referring to, and automatically classify them. It would also suggest “tags” that would assist in searching and make correlations with ease.
SciFY developed an Artificial Intelligence system and more specifically machine learning algorithms. The algorithms were programmed to extract the subject and relevant labels from the documents to classify them and add metadata for easier search.
The above were incorporated into the existing services of the client and the results exceeded the client’s expectations.
• Client testimonial
At this point we are not going to describe general benefits but the exact comments from the client’s representative:
“With this investment, we are reaping significant benefits for our company and our customers: we are saving precious time that the staff was up to now spending for the thematic classification of legislation and the enrichment with metadata.
Our productivity has significantly increased. So, we can now focus more on the most value-adding parts of the job, where the human contribution is important. Also, the position of our company as a provider of legal information services is strengthened.”
• Other areas of application
A similar approach can be applied for bringing AI-empowered solutions to other professional services such as media, press indexing, customer profiling (banking, credit cards, public services), and data management.
Profile & Interesting Facts About SciFY
SciFY (Science For You), established in 2012, is a not-for-profit organization that develops cutting-edge intelligence systems to solve real-life problems.
SciFY applies expertise in Artificial Intelligence and other technologies, in collaboration with a strong network of partners (universities, research institutes, companies, innovation hubs, and NGOs) to jointly develop novel, working solutions that bring results.
With a solid team of 16 people, SciFY fosters positive, human-centered change to the lives of all. Through IT and AI solutions that facilitate entire ecosystems, tapping into knowledge from scientific breakthroughs and technological achievements.
SciFY utilizes the power of technology and networks to bring about positive change in 6 Impact Areas:
1. Artificial Intelligence: Helping organizations get smarter
2. Assistive technologies: Giving freedom to people with disabilities
3. Startups and Innovation: Helping organizations create value
4. Education and skill-building: Developing skills and disseminating knowledge
5. Supporting the civil society: Helping Civil Society brings results
6. eDemocracy: Empowering citizens to co-create their future
SciFY’s unique approach brings concrete results through a four-pillar method:
1. Developing digital solutions
2. Creating a supporting community
3. Sharing knowledge
4. Managing the innovation process
SciFY exploits 6 services to create digital transformations in the aforementioned Impact Areas:
1. Software and AI solutions
2. Innovation Management & Product Development Guidance
3. Innovative Education & Skills development
4. Communication & Networking
5. Gaming & Gamification
6. Fundraising support
- SciFY is one of the few SMEs in EU to participate in “DIGITAL SME Focus Group on AI”, an initiative of the European Commission (AI Watch) and the European DIGITAL SME Alliance where they have set up an experts team which consisting of almost 40 Artificial Intelligence experts representing companies from all over Europe.
- SciFY’s “Games for Blind” initiative has been awarded by the Zero Project as one of the best practices in the world for innovation, impact, and contribution to disability support.
- It participates in SHAPES, a 21-million EUR project, in which 36 partners from 14 countries are working on digital solutions and marketplaces for active aging.
- SciFY has been evaluated to be in the top 5% of the NGOs in Greece in terms of Transparency, Organization, and Effectiveness but independent evaluators.