Cloud storage company Box has recently announced a partnership with OpenAI to introduce new generative AI capabilities across its products. This new capability will enable the analysis of information across customer contracts, summarizing financial documents and surfacing insights from research.
Box AI has demonstrated various use cases, including sales teams being able to use Box AI to answer complex contract questions and accelerate the sales cycle and analysts who will be able to have Box AI summarize long financial reports to help make rating recommendations.
Legal teams can ask Box AI to identify key terms, conditions, and obligations in contracts, speeding up review cycles. Operations teams can now tell Box AI to extract key takeaways from budgets and update corporate strategy decks without making finance colleagues wait. Customer service teams can use Box AI to derive insights from hundreds of customer feedback surveys and identify key areas for improvement.
Box, which serves more than 115,000 customers, says that bringing its underlying AI models to where their content is already safely stored makes it more useful and valuable. For now, Box AI will only be available to select customers through an upcoming “design partner program. ” Interested users can also register for private beta access when it becomes available. Pricing and other details will be announced at a later date at general availability.
This announcement by Box shows that AI technology is fast becoming an integral part of many businesses, with more and more companies now incorporating AI into their products. Box AI provides a platform for users to ask questions such as “Please summarize this document” or “When is the NDA valid?” With its various use cases, Box AI has the potential to transform the way we work, making everyone in a company smarter and more productive. Content is an organization’s most important data, and with Box AI, its potential value can now be fully realized.