AntWorks: A start-up on the fast-track of automation
Within a few years of existence, AntWorks is transforming the business process landscape with its solutions across cognitive machine reading (CMR), robotic process automation (RPA), and cognitive process automation solutions. It offers the ‘only integrated, enterprise-level, intelligent automation platform— ANTsteinTM—that is powered by fractal science.
Asheesh Mehra says, “We apply machine learning (ML) and natural language processing (NLP) to the front-end of a business process to ensure we obtain clean data to enable a seamless, automated process.”
Tom Reuner, Senior Vice President, HfS Research says, “Antworks’ holistic approach to automation and the compelling vision makes them one of the most innovative providers in the market. The value proposition of linking the RPA capabilities with machine learning and that is including semi-structured content such as handwriting and forms as well as broader cognitive capabilities, including pattern recognition, even images, are going beyond what you see most in the market.”
We apply machine learning (ML) and natural language processing (NLP) to the front-end of a business process to ensure we obtain clean data to enable a seamless, automated process
Built using fractal science that integrates ML, pattern recognition, adaptive learning, and deep learning, ANTsteinTM—the AntWorks platform—provides advanced operational and business analytics, cognitive decision-making capabilities, and advanced operational diagnostics. It is platform-agnostic and can be integrated to any enterprises’ core system.
Today, ANTsteinTM caters to numerous industry segments. Several banks have successfully leveraged the platform to automate many processes including the Know Your Customer (KYC) process.
A case in point showcases AntWorks’ capabilities
AntWorks was engaged by a large Indian bank to automate its Know Your Customer (KYC) process that was data-intensive and comprised of a mix of data inputs. The solution had to read and extract multiple data formats like signatures, photographs, hand-written forms, and printed text from new account opening forms. It also had to transform the data using business rules and transport it into a government system for customers’ KYC approval request.
AntWorks provided a comprehensive solution by using its multi-format, data ingestion platform for cognitive machine reading and its RPA module for querying and procuring approvals from the government site. Once the inputs were scanned and photographs were cropped to the government stipulated sizes, the data was uploaded to the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) portal by a single touch of a button.
“We finished the process in less than an hour, resulting in an overall cost saving of 90 percent, 85-90 percent increase in productivity, and a shorter time-to-market with improved customer satisfaction,” says Mehra.
In its short sprint in the automation space, AntWorks has also seen a lot of traction in the healthcare space including its usage by oncologists in cancer research. With sales presence in the US and the UK, the company plans to expand its footprint across North America and Europe. In the next year, AntWorks plans to introduce point solutions in accounting, airlines, education, telecom, and utility sectors.