Automation and AI White Paper - Future World of Work

Finance groups can automate invoice processing, using AI-based models to "read" invoices and extract relevant data for input into downstream processing applications. They can also automate customer acquisition processes such as onboarding as well as day-to-day processes such as procure to pay, order to cash, record to report, and risk management. It costs health insurance companies about $28 to manually process a claim but only $3 to auto adjudicate a claim. Human resources groups can automate processes such as payroll and employee onboarding. AI-based tools can also be trained to screen resumes by using NLP, looking for those from candidates with predefined levels of experience, skill sets, and work history, for example.