Bit Capital Rolls Out a Digital Financial Solution in Under 3 Months and at 2/3 the Cost - Build What's Next
Case Study

Bit Capital Rolls Out a Digital Financial Solution in Under 3 Months and at 2/3 the Cost

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Bit Capital was established with a certain urgency to develop its platform. Google Cloud ensured it was able to build and go live with a solution in under three months, at a cost about two-thirds lower than other providers--and with a small team.

In the past few years, a series of new technologies and regulatory changes has been transforming Brazil’s financial industry. The concept of blockchain added security and agility to financial transactions. The open banking system being deployed by the country’s Central Bank (BC) allows for platform integration and data sharing -with the user’s consent- between financial institutions. Recently, the launch of Pix, also by the BC, has shaken the market by creating a new payment method that is instant, free for individuals and 24/7.

Since 2018, the startup Bit Capital has been working on the development of 100%-digital financial solutions in the cloud to help its clients adapt to this new scenario in a convenient way, without the need to build an infrastructure for that or hiring different providers. Pix was not the exception.

In less than 3 months, the team was able to build and go live with a solution that can be used by both direct participants (i.e. those with banking licenses granted by BC) and indirect participants (i.e. companies depending on direct participants to offer payments on Pix) through Bit Capital’s platform.

Besides this differential, Pix and the startup’s other solutions are based on blockchain and Google Cloud’s cloud, ensuring greater security, scalability and availability for customers and allowing for an easy integration between Bit Capital’s platform’s solutions and those from other companies.

“Now we have a platform with an API and various microsservices, allowing clients to connect and develop their own financial product without having to start from scratch.”

Francesco Miolo, CFO, Bit Capital

A robust structure to handle Pix’s high demand

Bit Capital was established with a certain urgency to develop its platform. The idea was well-developed and customers were interested. The fast deployment of Google Cloud’s tools was one of the main factors that attracted the company to use it as a basis for its infrastructure.

“We managed to deliver everything we have today in Google Cloud with a small team. That was another challenge: being able to grow with a few people,” says Juliano Souza, the startup’s head of IT infrastructure. “We sought other cloud partners, but they had a steep curve. We chose Google Cloud because we needed quick, quality scaling.”

The same thing happened when they built the solution for Pix, despite the specific challenges involved. The BC had performance requirements that led the company to spend some time experimenting until they reached the best suite of tools to meet those requirements. The startup wanted to create a unique architecture that could help both large and small customers and be integrated to the platform’s other microservices.

With the support from Google Cloud’s team to answer doubts and make the best decisions, the solution was built in a few months, at a cost about two-thirds lower than other providers.

The solution’s architecture is based on apps running in Docker in Google Kubernetes Engine (GKE), with interconnected microservices. The blockchain system runs on Compute Engine, its rows are managed in Pub/Sub and Dataflow, and persistent data, in Cloud SQLCloud Interconnect is used for the connection with BC. Cloud KMS and Secrets Management store the company’s pre-credentials. All of this is supported by Cloud Load Balancing for load balancing and autoscaling.

According to the team, GKE was essential for the solution’s success. Using infrastructure as code in the tool made uploading of a group of microservices significantly easier. Developers are able to help set up this environment, which has helped spread the DevOps culture in the team. Besides orchestrating and integrating apps, GKE also provides an elastic structure to handle demand peaks and visibility to monitor internal components.

“Google Kubernetes Engine was the only way to ensure availability, observability and elasticity for all clients, whether small, middle-sized or large.”

Juliano Souza, Head of IT Infrastructure, Bit Capital

Nowadays, the solution’s environment has 20 clusters with over 1,500 pods – 250GB in data per month, providing a robust structure to support a service involving periods of intense demand such as Black Friday.

Ease to monitor, fix and improve

Just 10 days after Pix’s official launch date, the company had its first test: Black Friday. This allowed a major e-commerce customer to test the scale and see the success of the architecture that had been built. “It worked great regarding what the cloud could deliver. And we found what we needed to fix very quickly. Operations [formerly Stackdriver], in particular Cloud Trace, showed us clearly what needed to be done to improve performance,” Souza explains.

Using Operations added reliability by putting deliveries into production. Checking Cloud Trace to see if there were any performance issues and the exact point where they were happening became routine for Bit Capital’s developers. Google Cloud’s security tools and Google Safety Center provided the resources needed to monitor and secure the environment, with automatic data encryption at rest and in transit.

“Google Cloud has security as a premise. When we upload any kind of component, like a database or a virtual machine, the drive is encrypted by default. With other providers, you must specify that you want it encrypted.

”—Juliano Souza, Head of IT Infrastructure, Bit Capital

The easy service monitoring and management accelerates product and technology development because the team no longer needs to worry about infrastructure. Automated management allows professionals to spend more time on new projects and the company’s business. Also, the deployment of services in a Google Cloud multi-region impacts on customer experience, providing high availability for their solutions.

In the coming months, Bit Capital aims to ramp up service usage and the creation of new projects in Google Cloud by adding more customers to Pix’s solution and Banking as a Service (BaaS) solutions. Anthos will be incorporated to the tool suite to make it easier to connect apps with the customers’ on-prem environments. And the deployment of open banking has the potential to be a business driver for the company.

“We joke that we’re already doing open banking, because we have various connections with different providers, which allows us to offer an integrated solution,” says Francesco Miolo, the startup’s CFO. “With the arrival of the new regulations, something we are waiting for since we started out, we will be able, through our platform, to take our customers to the open finance ecosystem, enabling the development of disruptive business models.”

Blog

Google Cloud’s Data Analytics May Recap

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Apart from the inaugural Data Cloud Summit, Google Cloud's Data Analytics and Management solutions have made waves with recognition as a leader in Cloud Data Warehouse and Streaming Analytics domain, new innovations and releases. Read what's next!

May was a very busy month for data analytics product innovation. If you didn’t have the chance to attend our inaugural Data Cloud Summit, video replays of all our sessions are now available so feel free to watch them at your own pace. 

In this blog, I’d like to share some background behind the innovations we released in May, why we built them the way we did, and the type of value they can bring your company and your team.

But first, a huge thank you!

This week, we had the honor to announce that Google has been named a Leader in The Forrester Wave™: Streaming Analytics, Q2 2021 report. Forrester gave Dataflow a score of 5 out of 5 across 12 different criteria, stating: “Google Cloud Dataflow has strengths in data sequencing, advanced analytics, performance, and high-availability”. 

Google has more than a decade of experience in building real-time and internet-scale systems for its own needs, and we are excited to see that our ability to provide customers with a reliable, scalable, and performant platform is bearing fruit. 

This announcement comes on the back of the release of The Forrester Wave™: Cloud Data Warehouse, Q1 2021 report, which also named Google Cloud as a Leader.

We couldn’t be more excited about the recognition and appreciate all your feedback and trust in the work that we do to support your goal in accelerating data-powered innovation.

Innovation galore

Your feedback and your passion is the fuel that drives our ambition to deliver more and better services to you. That’s why, this year, we didn’t want to wait until Google Cloud Next to share some great products we have been working on. On May 26, our team announced a slew of new products, services and programs. Watch a quick summary below:

https://youtube.com/watch?v=DG1mOPMXJvw%3Fenablejsapi%3D1%26

Meeting you where you are

An important design principle behind all of our services is “meeting you where you are”. This means we aim to provide you with the tools and software you need to innovate on your own terms. Here are three new services that will help you do just that:

Datastream

Datastream, our new serverless change data capture (CDC) and replication service, allows your company to synchronize data across heterogeneous databases, storage systems, and applications reliably and with minimal latency to support real-time analytics, database replication, and event-driven architectures. Datastream delivers change streams from Oracle and MySQL databases into Google Cloud services such as BigQueryCloud SQLCloud Storage, and Cloud Spanner, saving time and resources while ensuring your data is accurate and up-to-date. 

  • Under the hood, Datastream reads CDC events (inserts, updates, and deletes) from source databases, and writes those events with minimal latency to a data destination. It leverages the fact that each database source has its own CDC log—binlog for MySQL and LogMiner for Oracle—which it uses for its own internal replication and consistency purposes. 
  • Datastream integrates with purpose-built and extensible Dataflow templates to pull the change streams written to Cloud Storage, and create up-to-date replicated tables in BigQuery for analytics. It also leverages Dataflow templates to replicate and synchronize databases into Cloud SQL or Cloud Spanner for database migrations and hybrid cloud configurations. 
  • Datastream also powers a Google-native Oracle connector in Cloud Data Fusion’s new replication feature for easy ETL/ELT pipelining. By delivering change streams directly into Cloud Storage, customers can leverage Datastream to implement modern, event-driven architectures.

Looker and BigQuery Omni on Microsoft Azure

Research on multi cloud adoption is unequivocal — 92% of businesses in 2021 report having a multi cloud strategy. We want to continue supporting your choice by providing the flexibility you need to see your strategy through. 

  • This past month, we introduced Looker, hosted on Microsoft Azure. For the first time, you can now choose Azure, Google Cloud, or AWS for your Looker instance. You can also self-host your Looker instance on-premises.
  • We also introduced BigQuery Omni for Azure, which along with last year’s introduction of BigQuery Omni for AWS, will help you access and securely analyze data across Google Cloud, AWS, and Azure. 

The cost of moving data between cloud providers isn’t sustainable for many, and it’s still difficult to seamlessly work across clouds. BigQuery Omni represents a new way of analyzing data stored in multiple public clouds, which is made possible by BigQuery’s separation of compute and storage. By decoupling these two, BigQuery provides scalable storage that can reside in Google Cloud or other public clouds, and stateless resilient compute that executes standard SQL queries. 

  • Unlike competitors, BigQuery Omni doesn’t require you to move or copy your data from one public cloud to another, where you might incur egress costs. You also benefit from the same BigQuery interface on Google Cloud, enabling you to query data stored in Google Cloud, AWS, and Azure without any cross-cloud movement or copies of data. 
  • BigQuery Omni’s query engine runs the necessary compute on clusters in the same region where your data resides. For example, you can query Google Analytics 360 Ads data stored in Google Cloud and query logs data from your ecommerce platform and applications that are stored in AWS S3 and/or Microsoft Azure. 

Then, using Looker, you can build a dashboard that allows you to visualize your audience behavior and purchases alongside your advertising spend. 

Dataplex

We understand that most organizations still struggle to make high-quality data easily discoverable and accessible for analytics, across multiple silos, to a growing number of people and tools within their organization. 

They are often forced to make tradeoffs. For instance, moving and duplicating data across silos to enable diverse analytics use cases or leaving their data distributed but limiting the agility of decisions. 

  • Dataplex provides an intelligent data fabric that enables you to centrally manage, monitor, and govern your data across data lakes, data warehouses, and data marts, while also ensuring data is securely accessible to a variety of analytics and data science tools. 
  • One of the core tenets of Dataplex is letting you organize and manage your data in a way that makes sense for your business, without data movement or duplication. For that, we provide logical constructs like lakes, data zones, and assets. These constructs enable you to abstract away the underlying storage systems and become the foundation for setting policies around data access, security, lifecycle management, and so on. 
  • For example, you can create a lake per department within your organization (e.g. Retail, Sales, Finance, etc.) and create data zones that map to data readiness and usage (e.g. landing, raw, curated_data_analytics, curated_data_science, etc.). 

Once you have your lakes and zones setup, you can attach data to these zones as assets. You can add data from different types of storage (e.g. GCS Bucket and BigQuery dataset) under the same zone. You can also attach data across multiple projects under the same zone. You can ingest data into your lakes and zones using the tools of your choice, including services such as Dataflow, Data Fusion, Dataproc, Pub/Sub, or choose from one of our partner products. Dataplex comes with built-in 1-click templates for common data management tasks. 
To find out more about Dataplex, head to cloud.google.com/dataplex or watch the video below:

https://youtube.com/watch?v=bbFeAt7cw1g%3Fenablejsapi%3D1%26

Helping you innovate everyday

Sharing data is hard. Traditional data sharing techniques use batch data pipelines that are expensive to run, create late arriving data, and can break with any changes to the source data. These techniques also create multiple copies of data, which brings unnecessary costs and can bypass data governance processes. They also fail to offer features for data monetization, such as managing subscriptions and entitlements. Altogether, these challenges mean that organizations are unable to realize the full potential of transforming their business with shared data.

Analytics Hub

To address these limitations, we are introducing Analytics Hub, a new fully managed service that helps organizations unlock the value of data sharing, leading to new insights and increased business value. 

This new service is built on the tremendous experience and feedback we have received over the years. For example, BigQuery has had cross-organizational, in-place data sharing capabilities since its inception in 2010—and the functionality is very popular. Over a 7-day period in April, we had over 3,000 different organizations sharing over 200 petabytes of data. These numbers don’t include data sharing between departments within the same organization.

One week in the life of data sharing in BigQuery

Analytics Hub takes sharing to the next level, making it easy for you to publish, discover, and subscribe to valuable datasets that you can combine with your own data to derive unique insights. 

This includes: 

  • Shared datasets: As a data publisher, you create shared datasets that contain the views of data that you want to deliver to your subscribers. Data subscribers can search through the datasets that are available across all exchanges for which they have access and subscribe to relevant datasets. In addition, the publisher can track subscribers, disable subscriptions, and see aggregated usage information for the shared data.
  • Curated, self-service data exchanges: Exchanges are collections used to organize and secure shared datasets. By default, exchanges are completely private, but granular roles and permissions make it easy to deliver data to the right audience—whether internal or public. 

This is just the beginning for Analytics Hub. Please sign up for the preview, which is scheduled to be available in the third quarter of 2021.

Dataflow Prime

At Google Cloud, we have the great privilege of working with some of the most innovative organizations in the world. And this work provides us with a unique perspective into the future of big data processing. Dataflow Prime is a new platform based on a serverless, no-ops, and auto-tuning architecture that brings unparalleled resource utilization and radical operational simplicity to big data processing. This new service introduces a large number of exciting capabilities but I’d like to highlight three key aspects of the product:

  • Vertical Autoscaling: Dataflow Prime dynamically adjusts the compute capacity allocated to each worker based on utilization, detecting when jobs are limited by worker resources and automatically adding more resources. Vertical Autoscaling works hand in hand with Horizontal Autoscaling to seamlessly scale workers to best fit the needs of the pipeline. As a result, it no longer takes hours or days to determine the perfect worker configuration to maximize utilization. 
  • Right Fitting: Each stage of a pipeline typically has a different resource requirement than the others. Until now, either all workers in the pipeline would have had the higher memory and GPU, or none of them would. Pipelines either had to waste resources or suffer slower workloads. Right Fitting solves this problem by creating stage-specific pools of resources, optimized for each stage. 
  • Smart Recommendations: Smart Recommendations automatically detects problems in your pipeline and shows potential fixes. For example, if your pipeline is running into permissions issues, a Smart Recommendation will detect which IAM permissions you need to enable to unblock your job. If you are using an inefficient coder in your job, Smart Recommendations will surface more performant coder implementations that can help you save on costs.

What’s next

We’re excited to hear your thoughts and feedback about all these exciting new services. I would also highly recommend that you connect with members of the community to learn more about their story and journey. A good example to start with is the Data To Value customer panel we produced at our inaugural Data Cloud Summit with the Chief Data Officers of Keybank and Rackspace. You can watch it for free below:

https://youtube.com/watch?v=ITI2Q3MkxuA%3Fenablejsapi%3D1%26

Research Reports

Report on API-led Digital Transformations in 2020 and the Future

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Read the State of API Economy 2021 report to gain insights on API-led digital economy and in-depth analysis of Google Cloud's Apigee API Management Platform usage data, case studies and third-party surveys conducted with tech leaders.

In 2020, many businesses across industries turned their focus and investments towards digital strategies. APIs being an integral part of every organization’s digital disruption, will grow in relevance throughout 2021. Read the report to gain more insights on driving API-led digital transformations and in-depth analysis of Google Cloud’s Apigee API Management Platform usage data, case studies and third-party surveys conducted with tech leaders.

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Google Cloud Celebrates Journey of 3 Inspiring Founders for the Asian Pacific American Heritage Month

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Google Cloud celebrates diversity in leadership by recognizing the journey of the 3 founders of the Asia and Pacific Island (AAPI) heritage in building their business and leveraging Google's technology. Learn more.

May is Asian Pacific American Heritage Month —a time for us to come together to celebrate and remember the important people and history of Asian and Pacific Island heritage. This feature highlights three AAPI founders from the Google For Startups community.

Read on to learn how these three founders built their businesses, leverage Google tech, and suggestion they have for aspiring entrepreneurs.

cp

CultivatePeople 

Founder: Lola Han

Description: CultivatePeople’s compensation software, Kamsa, provides global market pay rate data and helps companies make data-driven salary decisions so they can attract and retain their most valuable asset: employees. 

Why GCP: “CultivatePeople began using GCP when integrating SSO/SAML authentication after  our SaaS product became a high priority. We were able to exceed our clients’ expectations and increase their level of trust in our platform’s capabilities. We’re currently investigating additional machine learning products, such as Cloud AutoML, that will allow us to quickly deliver exciting features.” 

Note from the Founder: “I grew up with immigrant parents who value stability and are risk-averse. My parents discouraged me from starting my own company because they didn’t want to see me struggle financially or see my health suffer (due to stress). I felt strongly about what CultivatePeople could do, so I started the company as a sole founder in 2017 and watched it double in size year over year since. While the ones I love most may not have cheered me on initially, it was important for me to hang on to the encouraging words of former bosses, executives, and founders to keep me focused on my mission. 

My advice for other AAPI founders is to be a “silent assassin” and believe in the mission and values of your organization. Always remember to stop along the way and: 

 1) Enjoy the journey by celebrating wins and giving yourself credit;

2) Follow your intuition—it’s (almost) always right; 

3) Recognize and invest in your people regularly (ie. give increases more than once a year, if warranted);

4) Give regular words of affirmation to employees on even small achievements.”

swit

Swit

Founder: Josh Lee and Max Lim

Description: Swit is a team collaboration platform that seamlessly combines team chat with task management by allowing teams to turn their conversations into trackable tasks and share tasks to chat with simple drag-and-drop functionality, ensuring everyone is on the same page and projects get done faster.

Why GCP: “Swit is a cross-category hybrid work tool for chat and tasks. This functionality requires more complicated and heavier architecture for performance. So, configuring and managing virtual machines was really challenging to scale up our systems, while handling occasional unexpected traffic surges and frequent updates. Eventually we divided our monolithic architecture into 35 microservices when we launched our official product. The migration to GKE took around one month, and it turned out to be well worth the effort—our systems became able to offer high scalability and enough resilience to keep its uptime no matter what happened. Now we’re operating 84 workloads and 252 microservices with high stability with remarkably low downtime – less than 0.00001%/year.”

Note from the Founder: “As an AAPI founder based in Silicon Valley, I feel proud of the work ethics and diligence fellow Korean American entrepreneurs and professionals have long demonstrated here. Especially with K-pop breaking into the mainstream, I feel even more proud of our culture that strives toward an absolute perfection molded through years of training and dedication. The mission-driven culture of Silicon Valley coupled with Google’s edging technology and creativity really helped us build a product that not only encompasses verticals but also transcends cultures. Swit is growing at an unprecedented rate, and we hope  to join the long list of successful AAPI entrepreneurs here. Swit’s close network with the AAPI community wouldn’t have been possible without Google support. We are grateful for this collaborative environment, and we hope to become the next-generation ambassador for collaboration after Google.” 

Check out more from Swit in their founder story.

wisy

WISY 

Founder: Min Chen

Description: Wisy develops technology to bring digital efficiency into the physical world, supporting consumer products businesses and making them thrive in the new economy. All of us have a bad experience when we can’t find the product we want to buy. That is a $1.9T problem in the consumer-packaged goods industry that Wisy is solving with AI and analytics to help manufacturers and retailers sell more by reducing out-of-stocks and waste at a global scale.

Why GCP: “GCP has an intuitive, easy to use interface, was lower cost, and offered preemptible instances with flexible compute options. Some of the reasons why Wisy decided to use GCP include instance and payment configurability, privacy and traffic security, cost-efficiency, and Machine Learning.

Wisy has been able to advance quickly with product development, as well as collaborate better and iterate faster in the creation of our AI models, while reducing costs by 40%. At Wisy, we are solving a problem that affects everyone who shops at a store.“

Note from the Founder: “Two years ago, I moved to San Francisco to expand my second startup, Wisy. This is when I learned that my name ‘Min’ stands for ‘minority.’ I was born in China, raised in a Black community in Panama, received scholarships to attend both Carnegie Mellon and UC Berkeley. I worked for 20 years in several countries, but I have never felt so discriminated against due to my race, ethnicity, gender and age than during my time in Silicon Valley. However, this is also the place I learned that my diverse life experience is my competitive advantage. My background enables me to recruit and relate to people in different countries, create scalable and flexible products for multinational customers, and run global operations efficiently.

My recommendation to AAPI founders is to find strength in their multicultural background. Don’t hide what makes you unique, do not limit yourselves, and do not let others limit you. You will lose your edge when trading authenticity for validation. Be proud and own your story.”

If you want to learn more about how Google Cloud can help your startup, visit our Startup Program application page here and sign up for our monthly startup newsletter to get a peek at our community activities, digital events, special offers, and more.To learn more about how you can help #StopAsianHate during Asian Pacific American Heritage Month and beyond, visit their website here.

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DocAI Lowers Customer’s Document Processing Cost by 60 Percent. Learn How

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Document processing in most organizations require human intervention for review, data extraction and unlocking valuable insights. With Google Cloud Doc AI platform, document-intensive industries and businesses can end their guess work through automation, document processing accuracy, ML-based predictions and better UX at 60 percent lesser document processing cost.

Some of the most important data at your company isn’t living in databases, but in documents, and most business processes begin, involve or end with a document. 

Yet most companies are still manually entering data and reliant on guesswork to make sense of it all as the volume and variety of data explodes. Organizations are also leaving heaps of value on the table in the form of new and better customer experiences that can be unlocked with artificial intelligence (AI) applied to documents. 

The latest releases of Document (Doc) AI platformLending DocAI and Procurement DocAI, built on decades of AI innovation at Google, bring powerful and useful solutions to these challenges. Under the hood are Google’s industry-leading technologies:

  • Computer vision (including OCR) and Natural Language Processing (NLP) that creates pre-trained models for high-value, high-volume documents. 
  • Google Knowledge Graph to validate and enhance the fields in your documents.
  • Training and creation of your own custom document models. 
  • Human interaction with AI to ensure accuracy where needed.

Google Cloud DocAI platform, Lending DocAI and Procurement DocAI are now generally available. Thousands of customers have tried these products in the preview phase—and DocAI has already processed tens of billions of pages of documents across lending, insurance, government and other industries.

“The vast majority of enterprise content still resides in unstructured sources like documents. Google Cloud’s Document AI brings a fresh new perspective to the problem informed by the company’s decades of experience making sense of the largest unstructured corpus in the world—the world wide web.” Ritu Jyoti, VP of AI Research, IDC

Cut document processing costs by up to 60%

Lending DocAI helps banks, mortgage brokers and other lending institutions fast track the loan application process from weeks to days, dramatically reducing the cost of issuing a loan. And Procurement DocAI enables companies to automate procurement data capture at scale, lowering processing costs by up to 60%.

These solutions are built on DocAI platform, a unified console for document processing that lets you quickly access all parsers and tools. From the platform, you can automate and validate documents to streamline workflows, reduce guesswork, and keep data accurate and compliant. 

Get more value from AI with DocAI’s industry-specific solutions

According to Accenture’s AI: Built to Scale report: “Companies that scale successfully see 3x the return on their AI investments compared to those who have not fully rolled out AI capabilities.” 

Core to our strategy at Google Cloud is the creation of industry-specific solutions that help companies get maximum value out of their investments in AI. We announced Lending DocAI, our first solution designed specifically for the financial services industry, at the Mortgage Bankers Association convention last year. It processes borrowers’ income and asset documents using a set of specialized machine learning (ML) models, and automates routine document reviews so that mortgage providers can focus on more important work. 

Lending DocAI is now generally available and includes more specialized parsers for critical loan documents including paystubs, bank statements, and more. Our goal is to provide the right tools to help borrowers and lenders have a better experience and close home loans faster. For more, watch this video.

Procurement DocAI is also now generally available. This solution helps companies accelerate document processing for invoices, receipts, and other valuable documents in the procurement cycle. 

Automating data capture is helping our customers increase accuracy and also lower their procure-to-pay processing costs. We are continually expanding the types of documents Procurement DocAI can process—the latest is a utility parser for electric, water and other bills. In addition, Procurement DocAI leverages Google Knowledge Graph to validate and enrich parsed information to make the data even more useful. Check out this overview video for more details. 

One company that lives and breathes AI-enabled document management is AODocs. It uses Procurement DocAI to simplify invoice processing for enterprise customers and launched a new Gmail add-on, Invoice to Sheet, for SMB customers who just want to track their invoices in Google Sheets.

“Google Cloud’s Procurement DocAI service allows our document management platform to better automate the processing of invoices; AODocs customers who have tested our new account payables workflow estimate that the productivity of their A/P team has more than doubled, thanks to the reduction of manual data input brought by the Procurement DocAI.”Stéphan Donzé, Founder and CEO, AODocs

The new specialized parsers for Lending and Procurement DocAI can be used alongside our existing AutoML Text & Document Classification and AutoML Document Extraction services. These technologies provide a state-of-the-art toolset for creating new document models and have been widely deployed by customers in financial services and other industries. 

Partner to accelerate your AI deployment and results

Having the right partner to ease the complexity of rolling out your AI-strategy in mortgage document processing is critical to transforming your customers’ experience. We’re excited to announce a partnership with Mr. Cooper, a leader in mortgage servicing, to provide customers with more automation and workflow tools throughout their entire mortgage life cycle. As part of this agreement, both companies will collaborate on digitizing Mr. Cooper’s core mortgage platform, creating a more personal customer experience utilizing AI, and driving a broader culture of innovation to imagine and develop services and solutions that will transform the mortgage experience for American homeowners.

“Over the last few years, we have made substantial investments in our servicing technology and core mortgage platform that have revolutionized the customer experience, while providing dramatic efficiencies in operating cost. Our partnership with Google Cloud AI will build on those advances and help make these technologies available for the mortgage industry.” —Jay Bray, Chairman and CEO, Mr. Cooper Group

This builds upon the robust partner ecosystem we’re creating to help customers revolutionize the home loan experience, which includes last year’s partnership announcement with Roostify.

Integrate human review into ML predictions 

Next up is the general availability of Human-in-the-Loop AI, a new DocAI feature that will help companies achieve higher document processing accuracy with the assurance of human review. Adding human review can increase accuracy and help businesses interpret predictions using purpose-built tools to enable those reviews. 

Processing documents quickly and cost-effectively is important. But it’s often necessary to have a high level of assurance on data accuracy for compliance. CIOs and IT decision-makers need highly accurate ML predictions to fulfill compliance requirements, improve employee experience (e.g. less rework), and raise customer satisfaction (e.g. fewer data errors). Including human participation in ML processes allows AI and humans to work together for the best possible results.

gcp human-in-the-loop ai.gif

Human-in-the-Loop AI provides the workflow to manage human review tasks and produces a percentage confidence score of how “sure” it is that the AI ingested the document correctly. Document AI extracts data from documents with ML, and when paired with Human-in-the-Loop AI, human reviewers are able to verify the data captured. This system is customizable, providing the flexibility to set different thresholds and assign individual groups of reviewers to various stages of the workflow. With Human-in-the-Loop AI, developers can choose trusted reviewers to assign to the task; these reviewers can be from within their own or partner organizations.

More Document AI resources

To learn more, check out the Document AI webpage and watch a demo of how to process sample forms in AI Platform notebooks to inspect data extraction and confidence scores. For more on how customers and partners like Workday, AODocs, and Mr. Cooper are using Document AI, listen to our fireside chat. And stay tuned for the exciting evolution of these technologies in future releases of DocAI.

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Case Study

How Real Companies Are Innovating with AI Today—and the Benefits They’re Seeing

What do you get when you mix Target, women’s swim wear, and AI? “Joy!” says Mike McNamara, CIO and CDO, Target.

McNamara is just one of the many stories of real businesses conquering old challenges, and new disruptive industry challenges, with artificial intelligence.

McNamara, Nick Rockwell, CTO, The New York Times, Larry Colagiovanni, VP New Product Development, eBay, and Dirk John, CIO, LATAM Airlines, demonstrate how AI solutions allow businesses to find opportunity in chaos, innovation under tough conditions, and revenue in the most unlikely of places.

AI at Target

McNamara shows how AI is being applied to solve some of the most basic, yet critical, challenges that retailers like Target–and any business with large inventories—face. (start at 4:04)

AI at The New York Times

Nick Rockwell, CTO, The New York Times, shares how AI and big data tools are being used to leverage old assets and drive business ideas from them. (start at 12:18)

AI at eBay

Larry Colagiovanni, VP New Product Development, eBay, talks about how AI is helping eBay drive conversational commerce, help buyers sift through 1.1 billion items, and personalize the shopping experience.(start at 28:07)

AI at LATAM Airlines

Dirk John, CIO, LATAM Airlines, discusses how LATAM Airlines adopted advanced analytics tools in just a few weeks to accelerate the company’s understanding of their customers’ needs.(start at 35:58)

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