Unlocking the Potential of Chat GPT in CTRM Systems to Streamline Business Processes
The development of AI-driven automation tools has opened up fresh opportunities for streamlining and enhancing business processes.
GRAIN TRACK’S AI PLAYGROUND
Grain Track is no exception. We have created a ‘playground’ inside our system to test out this technology and see how it can help make our clients’ lives easier.
We believe that AI can be a great asset when it comes to tasks like proofreading drafts and templates, responding to emails with a professional tone, as well as any legal negotiations.
UNLOCKING THE BENEFITS OF AUTOMATION
It’s worth using AI to automate a number of business processes. These processes include:
1. Generating documents and letters
AI can create drafts based on your data and preferences, plus it can even suggest relevant content. It’s a great way to help the execution department, who have to manage a ton of documents every day. Chat GPT can make their lives easier by taking care of all the printing, sending, and data-entering.
2. Verifying documents
AI can help by automatically scanning documents and verifying them against existing databases. It can quickly detect discrepancies such as typos, incorrect information, and forged signatures. Plus, it can identify any changes in documents from previous versions.
3. Analyzing data, searching for insights within the system
With its powerful search capabilities, AI technology can quickly identify patterns and trends in large datasets. It can find anomalies, or correlations between different data points that humans may have missed. AI can even help you uncover patterns that you may not have considered before. With it, you can get insights on things like how much your company earns on a certain basis, if a certain trade configuration works, what costs are usually higher than usual, and much more information that is important for decision making.
4. Filling out forms
If you’ve been spending time and energy manually filling out Excel spreadsheets, AI can make things so much simpler. Just give it the text from a document and it will do all the hard work for you. AI can help in filling out forms by automatically detecting, recognizing, and filling in the required fields. This could help save time and effort, as well as reduce the chances of errors. AI can also help with verification and validation, so you can be sure that the information entered is accurate.
Also, it’s possible to:
• Detect errors in documents. Chat GPT can identify errors in spelling, grammar, punctuation, syntax, usage, and errors in formatting. It can also detect incongruous facts or figures that may be present in the document.
• Identify legal risks by analyzing conversational data and using natural language processing to detect potential risks. Additionally, Chat GPT can analyze the context of conversations, including the sentiment, the topics being discussed, and the participants in the conversation.
• Detect changes in document versions. Chat GPT can compare two versions of a document and look for differences. Additionally, Chat GPT can be used to identify the cause of the change by looking at the context of the changes.
• Check numbers. Chat GPT can use machine learning algorithms to look for patterns in the document to identify any potential errors in the numbers.
By using Chat GPT, businesses can benefit from increased efficiency, cost savings, and higher precision in their operations.
WHEN HUMANS STILL HAVE THE EDGE
It’s important to note that there are still some tasks that will still require qualified humans to do the job, such as dealing with complex customer service issues, strategic decision-making that involve a combination of subjective and objective factors, creative problem-solving, and managing people or lead teams. AI is a great tool to assist humans in these tasks, but it won’t replace them completely.