BuildingMinds And Zurich Insurance Nominated For Top 10 Digital Award with AI-Powered Invoice Scraper
BuildingMinds and Zurich Insurance have been nominated for the prestigious Top 10 Digital Switzerland, an award honoring outstanding digital innovations in the Swiss construction and real estate sectors.
As the fields of artificial intelligence, machine learning, and digitization continue to make remarkable advancements, the Digital Top 10 competition, organized by Digital Real Estate by pom+ and Bauen digital Schweiz/buildingSMART Switzerland, highlights and honors the most ground-breaking projects in Switzerland that demonstrate exceptional innovation in these areas.
Securing a spot among the top 10 was the AI-driven Invoice Scraper, a tool developed by BuildingMinds for Zurich Insurance, to seamlessly extract key details from energy bills with a 94% success rate, improving data accuracy and reducing manual effort. Compared to traditional methods, the AI-driven approach offers a significant advantage in contextual understanding. AI-powered invoice scraping can accurately interpret and categorize data fields, even when faced with diverse invoice formats and across all languages. The tool uses ChatGPT in the ETL process to automate extraction and transformation tasks, ensuring accurate data extractions regardless of the document structure complexity.
This adaptability enables large-scale implementation, making it particularly beneficial for organizations with substantial invoicing needs and global operations like Zurich Insurance, with a global portfolio of over 1000+ assets. Property and ESG managers at Zurich Insurance heavily utilize the invoice scraper across multiple European countries, to significantly streamline their processes - all while improving data quality for their decision making.
Roger Baumann, COO and Head of Product Development Global Real Estate at Zurich Insurance, on the AI-driven Invoice Scraper promising potential for the real estate industry:
"AI automates extracting key details from energy bills, improving accuracy, reducing manual effort, and enabling real-time analysis for better energy management and decarbonization efforts."
The competition's judges will evaluate the top 10 digital innovations and tools, concentrating on their added value and tangible benefits across various sectors of the construction and real estate industries. These sectors include facility management, user services, investment and portfolio management, planning, and data analysis.
Vote for the Invoice Scraper tool here.
