Cloud storage company Box has it. announced that it is introducing new artificial intelligence (AI) features across its products in partnership with OpenAI. Features will include analyzing information in customer contracts, summarizing financial documents, leveling insights from surveys, and more.
Box Co-Founder and CEO Aaron Levy said:
“We’re at the beginning of a platform shift in enterprise software driven by recent advances in creative AI, and nowhere is the potential impact greater than in enterprise content. We’ve created an organization’s unique documents, videos, presentations, spreadsheets, And more has seen a leap forward in its ability to analyze and synthesize large amounts of data.
When combined with AI, we will be able to unlock the value of this content and make everyone in the company smarter and more productive. Content is an organization’s most important data, and with Box AI we’re just getting started on how we’re going to change the way we work.”
Although not a separate product yet, many companies are now jumping on the AI bandwagon to improve their existing functionality. Box is also doing what it calls Box AI. The company is currently focusing on some of the use cases we’ve already seen possible with generative AI. For starters, by clicking the Box AI button, users can ask questions like “Summary of this document for me”, or “When does the NDA expire?” Which can be useful for complex and long documents or contracts.
Here are some other use cases that Box mentions in itself. News for the newspaper:
- Sales teams will be able to use Box AI to get answers to questions in complex contracts to speed up the sales cycle.
- Analysts will be able to have Box AI summarize long financial reports to inform their rating recommendations.
- Legal teams will be able to ask Box AI to identify key contract clauses, terms and obligations to speed up the review cycle.
- Operations teams will be able to tell Box AI to extract key takeaways from the budget to update the corporate strategy deck without waiting for a finance team colleague for the right piece of information.
- Customer service teams will be able to use Box AI to gain insights from hundreds of customer feedback surveys to identify key areas for improvement.
Box says it serves more than 115,000 users and that bringing underlying AI models to places where their content is already securely stored will be more useful and valuable. For now, Box AI will only be available to select users through its upcoming “Design Partner Program.” Interested users can also. Sign up for private beta access. When it will be available. Pricing and other details will be announced later upon general availability.