VAKT Incorporates AI into its Tech Stack for Further Streamlining

VAKT sees AI within its platform as a potentially powerful tool that can help to further streamline business processes and workflows, particularly in handling barge nomination documents, inspection documents, certificates of quantity and quality, and bills of lading in vLogistics. Additionally, AI may enhance data handling and user assistance, according to VAKT’s Jatin Bhadra. Currently, VAKT is focused on improving document handling by replacing traditional OCR technologies with AI. “VAKT is all about the ecosystem and having participants on the VAKT platform. This is fully integrated and so the data just seamlessly flows through it. Data is accurate and processed in a timely manner,” Jatin said. In an ideal world, since all market participants are using the VAKT platform, they all gain the benefits of data accuracy and can transmit the data end-to-end without having to manually key in the data when documents are exchanged over emails. However, when some market participants are not on the VAKT platform, and they send those documents to VAKT participants, then that data does need to be read and entered into the VAKT system. Currently, these documents would be uploaded using OCR reader technology supplied by a third party, he told me. However, VAKT… continue reading