How to save 30% of the working day for traders and trade analysts

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Are you consistently spending valuable working hours doing nothing but research? Do you wonder how it’s impacting your ability to generate revenue?

You’re not alone.

Although information is your bread and butter, sourcing clean reliable data requires major effort. The IDC data that is commonly quoted across the internet shows that, “the knowledge worker spends about 2.5 hours per day, or roughly 30% of the workday, searching for information.” The concerns this figure provoked are even valid today.

As a trader or analyst, one of the most vital tools you need to have at your disposal is access to relevant and up-to-date information. To make timely and accurate decisions in dynamically changing markets, traders spend a lot of their time trawling through material spread across emails, chats, slide decks, documents and spreadsheets.

And considering the number of traders operating within a company searching for the exact same information, that amounts to a colossal waste of time, energy and resources as well as a loss of overall productivity both personally and for the company. 

In response, companies often implement a knowledge base Q&A system. An online library of internal documentation that allows all parts of an organization to search for answers, it’s designed to alleviate the employees’ workload and create an environment for more efficiency. However, these kinds of knowledge bases don’t entirely deliver on the promise of facilitating speedier work processes.

Optimism soon turns to disappointment. If the knowledge base isn’t continuously maintained, traders and analysts regularly find that the information being thrown up in response to their queries is imprecise, lacking, or simply out-of-date. Encountering these obstacles again and again leads to employees abandoning the system all together. The Q&A function has not only produced few usable results, it’s further chipped away at valuable working time.

Artificial Intelligence is rapidly changing the way we live and work. If we already live in an age when software can compose emails and a fridge can order milk, why are we still using outdated search methods to augment our work processes? Using AI in a company’s knowledge base ensures you can maintain a competitive advantage in the trading market.

Most businesses operate at a disadvantage simply because employees cannot easily access key information. Meanwhile, duplication of the same request creates a pattern of needless repetition that has no place in the twenty-first century. Knowledge sharing today should be adding rather than detracting value.

Revenue.AI’s knowledge building, another face of our Virtual Intelligent Assistant for Commodity Trading Companies (Zeta), offers a solution to this problem. By harnessing the power of Artificial Intelligence, Zeta can respond to traders’ and analysts’ requests with data pertinent to their area of interest. In a matter of seconds, Zeta can explain concepts or new regulations by retrieving information from multiple channels, be that a SharePoint document, a commonly used messaging platform such as WhatsApp, an ERP system or a news site. 

The key advantages to using A.I. in this context is the speedy access to information that it provides – on average ten times quicker than a traditional knowledge base. Queries are analyzed and prioritized according to relevance and most importantly, personalized according to job function and commodity. In practice, this means that Zeta will remember your past requests and adapt answers to the same question depending on who’s asking.

The automated information validation process that is integrated into the knowledge base ensures that data is continuously verified, and errors are corrected. Thanks to Zeta, large amounts of data can be checked and updated extremely efficiently, providing the most up-to-date, accurate information at your fingertips.

But it’s not just the quality of the data that is improved. Zeta gives you a sense of ownership over the material you are accessing. Not only are your needs inherently understood, allowing for a personalized experience, you’re able to change and edit definitions and information as required.

There’s still a widely held preconception that implementing AI technologies is a lengthy and expensive process, but that’s a thing of the past. SaaS and PaaS Cloud companies have revolutionized the market by offering easy-to-integrate and customizable solutions that can be quickly adapted to existing systems.

Revenue.AI’s Intelligent Assistant can bring permanent positive change to the way companies work and remove unproductive activities from daily routines, putting you back in charge of that most valuable of assets: time.

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