Exela Technologies Announces Generative AI Initiatives
June 20 2023 - 8:30AM
Exela Technologies, Inc. (“Exela” or “the Company”)
(NASDAQ: XELA, XELAP), a leader in business processing
automation (“BPA”) announced today that the Company has integrated
generative AI across its products and services augmenting other AI
initiatives. The integration will improve the quality of the
services and software delivered to its customers globally.
Below are some of the key use cases that are being continuously
enhanced by embedding generative AI into existing workflows.
- In software products such as DrySign, Digital Mailroom (DMR),
XBP (Exchange for Bills and Payments) and PCH (the award-winning
healthcare claims processing gateway), a generative AI based agent
will help answer customer service questions.
- In the Company’s document lifecycle management, the Company
will enable the reading of documents automatically, their
classification and extraction, redaction or sanitization, and the
generation of analytics.
- In product systems development lifecycle solutions, AI will be
used to research specific topics and markets, generate test cases,
debug code, use generated code and porting code generation to speed
up and compress product and migration life cycle times.
- In Exela’s analytics stack, the Company will leverage
generative AI to provide a plethora of analytics and insights into
all internal operations.
- Additionally, the marketing and communications teams will be
more productive by generating both text and visual content based on
specific business unit requirements, which will enable the Company
to upload creative content for blogs, social media channels and our
product pages.
“We are excited to use generative AI to improve our products and
services,” said Sriram Ramanathan, CTO of Exela. “We believe that
generative AI has the potential to positively revolutionize the way
we do business.”
Exela is committed to using generative AI in a responsible and
ethical way. The Company has a number of policies in place to
ensure that generative AI is used in a way to better serve mankind
and improve quality of life.
There are a number of AI events planned for Exelerators to
educate, demonstrate and highlight the benefits of this powerful
platform that is already reshaping many enabled services. Exela
looks forward to sharing the details of its participation in the AI
evolution.
For more Exela news, commentary, and industry
perspectives,
visit: https://investors.exelatech.com/
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The information posted on the Company's website and/or via its
social media accounts may be deemed material to investors.
Accordingly, investors, media and others interested in the Company
should monitor the Company's website and its social media accounts
in addition to the Company's press releases, SEC filings
and public conference calls and webcasts.
About Exela Technologies
Exela is a business process automation (BPA) leader, leveraging
a global footprint and proprietary technology to provide digital
transformation solutions that improve efficiency, quality, and
productivity. With decades of experience operating mission-critical
processes, Exela serves a growing roster of more than 4,000
customers throughout 50 countries, including over 60% of the
Fortune® 100. With foundational technologies spanning
information management, workflow automation, and integrated
communications, Exela’s software and services include
multi-industry solution suites addressing finance & accounting,
human capital management, facilities optimization, and legal
management, as well as industry-specific solutions for banking,
healthcare, insurance, and the public sector. Exela is a leader in
workflow automation, attended and unattended cognitive automation,
digital mailrooms, print communications, and payment processing,
with deployments across the globe. Through cloud-enabled platforms,
built on a configurable stack of automation modules, and
approximately 15,000 employees operating in 21 countries, Exela
rapidly deploys integrated technology and operations as an
end-to-end digital journey partner.
Forward-Looking Statements
Certain statements included in this press release are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as "may", "should", "would", "plan",
"intend", "anticipate", "believe", "estimate", "predict",
"potential", "seem", "seek", "continue", "future", "will",
"expect", "outlook" or other similar words, phrases or expressions.
These forward-looking statements include statements regarding our
industry, future events, estimated or anticipated future results
and benefits, future opportunities for Exela, and other
statements that are not historical facts. These statements are
based on the current expectations of Exela management and
are not predictions of actual performance. These statements are
subject to a number of risks and uncertainties, including without
limitation those discussed under the heading "Risk Factors"
in Exela's Annual Report and other securities filings. In
addition, forward-looking statements
provide Exela's expectations, plans or forecasts of
future events and views as of the date of this
communication. Exela anticipates that subsequent events
and developments will cause Exela's assessments to change. These
forward-looking statements should not be relied upon as
representing Exela's assessments as of any date
subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent KondaveetiE: vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE: IR@exelatech.com
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