BUSINESS SITUATION
A US-based fintech organization intended to improve the utilization of AI/ML tools and reduce human dependency. The process involves extracting crucial information for investments through an AI/ML tool wherein a human takes ownership to train the ML model. The built in AI is expected to utilize the extraction strategy learned through ML and extract data for all other similar format documents automatically.
SGA STRATEGIC APPROACH
- Build a value stream mapping to identify and document every process step.
- Brainstorming meetings with business stakeholders to understand the root causes and build a fishbone analysis.
- Work with the business team to understand existing tool functionalities, their usage, and future developments.
- Adapted an approach of continuous improvement via automation.
- Recommended customized change in framework to enable and enhance tool efficiency.
- Recommended change in process to trigger system actions every time an ML activity is completed and enable the system to review and extract data from other similar format documents systematically.
ENGAGEMENT
SGA adopted a flexible engagement model to enable high-quality timely deliverables to the client.
BENEFITS & OUTCOME
- Enhanced system efficiency by 12% resulting in the reduction of manual effort by 20%.
- Immediate reduction in manual team of up to 3% with a possibility of increasing it to 10% over the course of 1 year.
- Cost savings up to ~USD 44k per year.
KEY INSIGHTS & OUTCOME
- The research uncovered key areas where organizations were lagging in terms of innovation, helping the client identify opportunities to support their customers more effectively.
- The data provided detailed views on innovation strategies, goals, and challenges from both decision-makers and users.
- The insights helped the client refine their own product innovation strategy, aligning their offerings with the evolving needs of decision-makers and end users.
- The insights provided actionable data that the client could use in their marketing and sales strategies, ensuring their messaging resonates with the innovation needs of different business segments.
