Current Affairs - Banking - Discussion

Standard Chartered in partnership with IBM has launched the Trade AI Engine which will automate the high-risk process of trade documentation. It will enhance client experience through increased operational efficiency and strengthened operational control. This newly launched Trade AI Engine will replace the Traditional documentary trade consisting of millions of data elements in paper-based that are reviewed through a largely manual process. Conversion of non-digital shipping documents into machine-readable format enabled by Optical Character Recognition (OCR). Identification and classification of document types from an initial pre-defined database. Continuous Machine learning (ML) based on user re-classification/re-defining of data elements to further improve accuracy.