Avoid document workflow neglect: The power of AI and automation with Foxit and Forrester

Many look to AI for the exciting opportunities it unlocks in the proprietary world, yet this ongoing hustle for implementation neglects to include some of the most foundational aspects of business. Documents, for example, are considered the lifeblood of enterprises in a myriad of sectors, but its potential in combination with AI is seeing some neglected.

In KMWorld’s latest webinar, Revolutionizing Document Workflows With AI, speakers DeeDee Kato, vice president of corporate marketing at Foxit, and Craig Le Clair, VP, principal analyst at Forrester Research, examined the state of document processes today, along with its many challenges, and how AI and automation may be able to transform it.

From healthcare to financial, legal, and insurance sectors, documents are fundamental aspects of their workflows. Oftentimes, these workflows are heavily burdened by the time it takes to manage the documents or the sheer volume of documents altogether.

To overcome these challenges, Kato imagined a world where a document can be scanned and its data captured with Optical Character Recognition (OCR) technology, which, through the power of AI, had its most important information extracted from unstructured documents. This is called intelligent document processing (IDP), and it’s based on the way AI can transform unstructured data into structured data that can be further actioned upon for positive business outcomes. 

Fortunately, this world is possible with Foxit’s Intelligent Document Platform driven by AI. Foxit’s platform enables enterprises to create, edit, and eSign documents which, through generative AI (GenAI) can be integrated for summarization, translation, and more. With AI-based sensitive data discovery and redaction, Foxit ensures that documents meet compliance standards and protect privacy. Finally, AI-based data extraction automates the process of deriving relevant data from documents, whether it be PDFs or other unstructured formats.

“This really unlocks a treasure chest of hidden data [and] powers advanced data analysis,” said Kato.

Some of the benefits of AI-based IDP include:

• Enhanced Efficiency: AI-based intelligent document processing significantly improves efficiency by automating repetitive tasks and reducing manual intervention.
• Improved Accuracy: Automation driven by AI ensures higher accuracy in document processing, minimizing errors and enhancing data quality.
• Cost Savings: By automating document processing, AI technology helps in saving both time and resources, leading to cost efficiency.

Le Clair transitioned the discussion toward examining the nature of AI and automation today. The way the world looks at AI and automation has shifted from sequential, scheduled, deterministic process patterns to non-deterministic, closed-loop patterns that favor autonomy. Non-deterministic refers to the phenomenon of humans and machines working as peers, and while many companies realize that they must achieve this level of closed-loop AI, trust remains a significant roadblock, Le Clair noted.

This change in psychology is reflected in Foxit and Forrester’s survey, where enterprises are aiming to adapt workflows to the non-deterministic pattern to overcome document workflows’ present challenges. The survey found that:

• 59% of users waste time on manual and repetitive document-related tasks, and, as a result, 56% of users don’t have time to do other primary work.
• 70% of users reported that summarizing documents and extracting valuable information is tedious, where another 59% felt that the autofill recommendations provided within the PDF editor weren’t relevant.
• Some of the top benefits expected from using a PDF tool that leverages AI were increased productivity (67%), increased collaboration (62%), and decreased time spent on administrative/repeatable tasks (59%).
• 73% of users frequently switch between different tools and platforms to get work tasks done, where 50% felt that using too many tools inhibits collaboration.

An all-in-one platform—such as Foxit’s AI-driven IDP platform—addresses key challenges faced by employees, all while helping decision makers achieve their goals, explained Le Clair.

For the full, in-depth webinar featuring more findings, a deeper dive into Foxit’s IDP platform, and more, you can view an archived version of the webinar here.