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article imageQ&A: Removing 'Did you catch that?' from your business meetings Special

By Tim Sandle     Feb 22, 2020 in Business
Whether you are typing or writing by hand, it's difficult to take verbatim notes during a business meeting. To overcome this, some businesses are turning to AI to bring in automated notetaking. Jacques Botbol from Verbit explains more.
Business meetings are invariably busy and are often intense. This makes keeping up with notetaking difficult: from mismatched notes to holes in information, not having the full picture can lead to major confusion in meeting debriefs, and scrambling through old notes also wastes time. It also stands that the process of taking notes means that people are also not focused on the discussions and decisions required. To add to this, there are issues with data privacy and security with handwritten notes.
The answer to this could be automation, through the application of artificial intelligence, explains Jacques Botbol, VP of Marketing at Verbit.
Digital Journal: How sophisticated is AI for business becoming?
Jacques Botbol: At the end of the day, AI only knows what you teach it, so the more we are using it the more sophisticated it becomes. AI is like a human that is going through stages, and the longer it is with you the savvier it becomes. Today, for example, we can see how AI is automating processes for business, from scheduling meetings automatically to analyzing and providing insights on the business all with no human interaction. That being said, the strength of AI will continue to be when used in combination with human intelligence like we do for professional transcription services.
DJ: What aspects of business would most benefit from AI?
Botbol: AI can benefit all aspects of the business since the essence of AI is being able to structure data and provide critical information for all business units, from sales to marketing and from product to operation. Unstructured data makes it difficult to truly digest the information and gain insights from it, but converting these files to text makes it possible to incorporate the data into business intelligence systems.
DJ: How do AI transcription tools work?
Botbol:Verbit’s AI transcription tool is built on an automatic speech recognition technology using linguistic and acoustic models. Natural language process (NLP) querying gives the ability to provide complete insights on all the data in context, not just isolated segments of it. NLP also helps uncover patterns and trends in the vast amount of data, making it possible to conduct more complex analyses. Adaptive machine learning algorithms provide advanced techniques to monitor the data and extract critical information for more informed decisions.
NLP also enables the democratization of information access, as end-users are not required to learn programming languages in order to gain access to the critical information they need. In that way, all users involved in the business process, technical and non-technical individuals alike, can be empowered to make informed decisions.
DJ: What is special about the Verbit solution?
Botbol:Built on adaptive algorithms, Verbit is the only technology that generates the most detailed speech-to-text files to provide over 99 percent accuracy, delivered at record-breaking speed. Verbit’s in-house, AI-enabled speech recognition technology is approximately 90 percent accurate, and in order to push 99 percent accuracy, the product incorporates a network of fifteen thousand human transcribers to correct errors and make any necessary revisions. These edits then flow back into the self-learning AI models, which work to improve Verbit’s machine learning algorithms over time.
DJ: How have you tested out the technology?
Botbol:The best test you can have is customers. Our solution is being used globally by some of the top companies across all industries and provides them with a more efficient and scalable process.
DJ: How have you addressed data privacy?
Botbol:We are very attentive to our customer requirements and we have included in our process the highest standards of privacy and protocols, such as HIPAA, SOC 2, and GDPR.
DJ: How can technology further develop in the future?
Botbol:Voice technology development depends on how the workforce of the market behaves. And, the trends show that more interaction between humans and technology will move us towards more efficient and scalable workflow. It also looks like voice technology will continue to help automatize routinary activities that today we do, and will provide extra value on the complex process and even decisions. We believe the technology will help us deliver more value by filling market gaps that are opening up as a very qualified workforce reaches retirement.
More about Artificial intelligence, Automation, business meet, notetaking
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