THOUSANDS of hours of valuable knowledge is being wasted by firms who fail to adopt artificial intelligence (AI) tools to make best use of the video content from online meetings, say experts.
iKVA, the Cambridge-based artificial intelligence firm, says companies have already ‘lost’ thousands of hours of knowledge and are at risk of losing more if they don’t prioritise the retention of video content created during online meetings.
The exponential growth in use of platforms like Zoom, Teams and Facetime during the pandemic enabled firms to conveniently engage with clients and colleagues.
However, its role in terms of ‘knowledge discovery’ has been overlooked according to iKVA, the fast-growing AI firm which recently raised £1.5m of seed funding to support its roll out of its unique tech in the legal, software and engineering markets during 2021.
iKVA was founded in 2017 by leading academics from the University of Cambridge Department of Computer Science and Technology and the Alan Turing Institute.
Jon Horden, CEO of iKVA, said:
“The evaporation of knowledge is an unintended consequence of the zoom boom during the pandemic. Video content produced by firms during internal meetings and client meetings is a rich source of internal knowledge that needs to be captured, retained, and then easily accessed by colleagues elsewhere in the firm working on a similar case.
“Too many firms are unwittingly allowing the valuable knowledge and experience to be effectively lost forever by not collating it effectively. We estimate it to be thousands of hours of expert knowledge being shared which will never be surfaced again. It’s a huge, missed opportunity in terms of knowledge discovery.
“Recording video meetings between colleagues is simple. The real challenge faced by firms comes in efficiently tagging it, categorising it and archiving it with consistent taxonomy on their existing platforms.
“The beauty of emerging AI technology is that there is now no need for lawyers to waste time tagging conversations or documents like they currently have to do with an enterprise solution.
“Now, artificial intelligence tools can convert speech from video calls into text and then automatically serve, in real time, the relevant dialogue to colleagues, saving them time and money.”
Worldwide revenues for the artificial intelligence (AI) market are forecast to grow 16.4% in 2021 to $327 billion. By 2024, the market is expected to break the $500 billion mark.*
iKVA works by pulling together unstructured data from multiple internal and external sources including rich documents, images, video and chat, to provide accurate knowledge to the user in real time as part of their regular workflow.
The discovery engine developed by iKVA is particularly suited to multinational firms in which staff work across multiple locations and platforms, often in different languages. In these multinational firms it is often challenging to share knowledge internally.
iKVA was designed for knowledge-intensive, multinational firms and was developed with input from the BBC, the Home Office and others in a process which has helped to influence its design. The technology is already used by global engineering giant Mott MacDonald.
