AI-powered optical character recognition lets insurers unlock vast troves of data and streamline all processes.||Insurers still struggle with PDFs, images and handwritten documents. Countless human hours are required to manually extract the data into a machine-readable format. This process is known as ETL (extract, transform and load). Insurers that can maximize their ETL capabilities have a powerful competitive advantage. 

Founded in 2005, Rimini Street is a provider of support services for enterprise applications from companies like SAP, Oracle and Salesforce.com. The goal is to reach $1 billion in revenues by 2026. And to accomplish this, the company evaluated a myriad of AI solutions. But they all fell short. "In the end, we leveraged a combination of best of breed open source technology and tools to build our own AI platform that is very powerful, intelligent, extensible and scalable," said Brian Slepko, who is the Executive Vice President of Global Service Delivery at Rimini Street.

Founded in 2005, Rimini Street is a provider of support services for enterprise applications from companies like SAP, Oracle and Salesforce.com. The goal is to reach $1 billion in revenues by 2026. And to accomplish this, the company evaluated a myriad of AI solutions. But they all fell short. "In the end, we leveraged a combination of best of breed open source technology and tools to build our own AI platform that is very powerful, intelligent, extensible and scalable," said Brian Slepko, who is the Executive Vice President of Global Service Delivery at Rimini Street.

By now we have all heard the term "AI" or artificial intelligence many times over, whether reading the latest business headlines, attending an industry conference or simply scanning your social news feeds on LinkedIn or Twitter. While this latest buzzword seems to be nothing more than a distraction to some, there are, in fact, real and practical applications of AI happening within legal departments. In fact, AI was the focus of several sessions and countless conversations during the Corporate Legal Operations Consortium (CLOC) Institute this past May, which illustrates its ascendance within the legal ops community. Certainly, AI is not a stand-alone answer for managing legal spend, or any other aspect of legal department operations. As I stated in an earlier blog post, the truth is that AI has delivered a clear incremental improvement over an old process.