The global market for correspondence management systems is experiencing rapid growth. According to a report prepared by Mordor Intelligence, the market size of the Correspondence Management System is projected to be $45.55 billion in 2024 and is anticipated to reach $92.29 billion by 2029 (15.17%).
Source: https://www.mordorintelligence.com/industry-reports/correspondence-management-system-market
This expansion is driven by the widespread adoption of digital work cultures across organizations and the increasing content volume in various industries. Moreover, advancements in big data and analytics solutions have enhanced the automation of both internal and external communications. Furthermore, companies are quickly adopting real-time communication systems to manage all correspondence efficiently.
AI in Correspondence Management Systems: A potent fusion.
Today, the increasing demand for AI leads to the growing adoption of technologies in CMS.
Automation promotes the adoption of AI-powered correspondence management systems, particularly for businesses with rule-based processes. This reduces inconsistencies and streamlines correspondence, resulting in more efficient internal and external communication systems.
AI and machine learning are the main technological breakthroughs of Correspondence Management Systems that power Intalio to streamline correspondence through its Correspondence Management System.
Smart process automation: Classification, Auto-tagging, and Entity Extraction
Integrating artificial intelligence into Intalio’s Correspondence Management Systems simplifies the process of identifying, classifying, categorizing, and separating various documents. It also allows the extraction of all related information and automatically creates descriptive metadata to label, store, and manage every piece of information, eliminating the need for manual content classification. For example, AI can swiftly and accurately classify and categorize correspondence according to subjects, document types, author, file name, editing time, and more, reducing time and eliminating errors.
Long correspondences? No problem!
The summarization tool in Intalio CTS reads the content correspondences using optical character recognition (OCR) and then summarizes the content in a few short lines. Imagine an 18-page hand-written correspondence that needs to be reviewed and answered in no time; it takes one click to create an accurate summary of a couple of lines, thus drastically reducing processing time. Voila!
Smart communication for an intelligent language
The natural language processing (NLP) AI feature describes the capability of intelligent systems to analyze and understand human language, including its structure, semantics, and formulation. This allows them to process, generate natural language, and perform tasks like translation, summarization, and sentiment analysis. This capability relies on NLP, an artificial intelligence field that employs techniques like machine learning, deep learning, and neural networks to analyze and interpret language data.
Chatbots: human-like smart assistants
Do you need help? Just ask for it! Intalio Chatbot uses artificial intelligence (AI) and natural language processing (NLP) to understand requests and automate responses, simulating human conversations. Intalio Chabot can perform all the above-mentioned tasks when asked to, in addition to answering more sophisticated inquiries through the smart engine.
The adoption of AI-driven solutions is crucial for businesses aiming to streamline their communication processes. The correspondence management system market is on an impressive upward trajectory, propelled by the digital transformation of workplaces and the increasing reliance on advanced technologies like AI and machine learning.
Intalio’s innovative Correspondence Management System exemplifies how integrating AI can revolutionize document handling, from automated classification and entity extraction to precise summarization and intelligent chatbots. These advancements not only reduce operational inefficiencies but also enable more effective and responsive communication, positioning businesses for success in a rapidly evolving digital landscape. Embrace the future of correspondence management with AI and automation—where smarter communication leads to more efficient business outcomes.
