In a recent catch up with VAKT CEO, Tasja Botha, she talked a little bit about VAKT’s use of AI. As, VAKT’s Dale Becker told me recently as I asked him for more details on this initiative, “AI is a hot topic now and is mentioned everywhere.” Indeed, it is but where are the use cases? It gets hyped up a lot but it’s important to find real world meaningful examples in commodities. So, I listened with interest as Dale walked me through what VAKT is working on in terms of deploying AI on its platform. “AI is being applied to improve the user experience on vSure and supplement the existing core features” he told me. VAKT’s vSure platform automates the detection of trade entry errors for all waterborne oil trades highlighting any discrepancies between counterparty trade records immediately after they occur when API connected. In vSure, AI is being used where there are manual steps in the business process to further streamline the user experience using the platform when some clients are not API connected and still send paper documents (e.g. PDF, email, Word). “We are applying the use of AI where it makes sense and there is an… continue reading