Cognitive Capture Digitizes Global Trade

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Baking the Cake

Those that have been reading along for the last year will recognize the ingredients behind this particularly sweet, success story around cognitive capture. We also got showcased on Business Insider.

Intelligent Cognitive Capture Blog – June 22

In the June 22 blog, we asked you to keep your eyes open because IBM was about to throw something new into the mix.

Cutting Edge Data Capture – June 30

We announced a few new tools and told you we were changing how capture was going to be done.  There were a few capture flavors that no-one could fix quite right, but we had some ideas.

IBM Datacap Insight Edition Use Cases – July 19

Semi-structured variance. We cracked this egg back in July with a demonstration on handling massive amounts of variance, making it clear there is no such thing as truly unstructured information.

Trade finance can be exceptionally difficult for many reasons.  On the surface, trade finance is simply the problem of capturing highly variant paper documents that have been processed by multiple paper-based governments and businesses during the trade journey, which deteriorates the quality significantly. In short, these documents arrive tattered, used as checklists along the way, and ugly.

The next layer is understanding and validating data that doesn’t follow normal Natural Language Processing  and sometimes not even Trade Finance standards.  Then, comes the problem of cross validating data across the corpus of documents.  And of course, processing these haystack needles fast enough to meet demanding business SLA’s for some of the largest players in the market.

The result can be a very sweet return because processing Trade Finance documents is a heavily manual process handled by thousands of knowledge workers that can take months to train.

If you looked towards the future with us, saw the new tools, and understood the variance problems, you will recognize the trade finance application as delivery of these promises. When we discuss theory at IBM, you better believe it’s because we intend on delivering the best of these ideas.
Don’t forget to read how the world’s leading trade finance bank developed a cognitive intelligence solution with IBM to make global trade safer and more efficient for thousands of businesses. 

 

 

Senior consultant, IBM Analytics

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