Information management provider Kodak Alaris has created an extension of its business that promises to use Artificial Intelligence (AI) technology to better communicate with customers.
The Boston-based provider today announced AI Foundry, which company officials said will help organizations turn structured and unstructured data into action by using AI technology. This adds to Kodak Alaris' suite of document scanners and capture software.
“Unstructured communications are a disruptive force to the enterprise, breaking automation, adding cost to business processes, and driving down customer satisfaction,” Steve Butler, general manager of AI Foundry, said in a statement. He added that AI Foundry will use AI to "understand amorphous data and provide smarter ‘context aware’ information management."
Company officials promised the new business will enable enterprises to deliver more accurate responses on the first interaction, reduce handling times, minimize transaction costs and increase staff productivity.
AI Foundry's first offering will be Info Insight, whose algorithms rely on linguistics (i.e. semantic understanding) to churn insights out of unstructured communications and learn in real time. It uses "smart routing" to send inquiries and suggests responses to the “best person” considering that person’s skill level, availability, time zone and language.
Alan Swahn, vice president of marketing at AI Foundry, said the "core advantage" at play is the "natural language processing to read and understand unstructured information from all media that we use to communicate in our daily lives, including email, web chats, text messages, email attachments and social media content."
"Traditional rule and keyword-based systems," he added, "just aren’t up to the task of solving today’s problem. Our new breed of ‘context aware’ information management, positions AI Foundry to capitalize on the explosive growth of unstructured data.”
No Small Investment
Kodak Alaris is not alone in its enterprise investment into AI. According to US-based market intelligence firm Tractica, the AI market for enterprise will increase from $202.5 million in 2015 to $11.1 billion by 2024.
IBM, Google, Microsoft, Apple and Amazon have already dove into the AI space. IBM currently has more than 500 patents related in this arena, with its super computing Watson as the modern face of AI. IBM has also created an ecosystem of developers to further the development of Watson’s applications.
According to CB Insights, companies invested in AI start-ups to the tune of $390.2 million last year, up 20 times from 2010. According to estimates from the business analytics firm Quid, AI has drawn more than $17 billion in investments since 2009.