Element AI and PemPem Announce Collaboration to Help Improve Traceability in Indonesian Palm Oil Supply Chains
Element AI integrates its document intelligence platform with social ERP App to offer cloud-based data collection and management for emerging commodity markets
MONTREAL, Nov. 10, 2020 /PRNewswire-PRWeb/ -- Element AI, a global developer of artificial intelligence-powered (AI) solutions and software, today announced a collaboration with PemPem, a company that develops mobile-based enterprise resource planning technology for paper-based and informal supply chains. PemPem will integrate Element AI Document Intelligence features into its platform to assist Indonesian palm fruit traders (farmers, transporters, aggregators and processors) in verifying sales transactions. The technology will also help create a more sustainable palm oil supply chain in the region.
Without data digitalization or formal contracts, workers in the Indonesian palm oil industry worked with unreliable harvesting, market-sales, and income histories. Traditionally, with earnings having been managed through word-of-mouth processes, workers struggled to build credit histories, resulting in barriers to access basic banking services. The palm oil industry is also linked to climate change, with much of the trade being undocumented.
PemPem will work closely with Element AI to create accurate earnings ledgers for workers through the integration of EAI Document Intelligence with its mobile-based technology. Workers will simply take photos of paper receipts they get from their buyers (processors, aggregators, transporters) with their smart-phones and upload these onto the PemPem App, which will use the data entity extraction feature in EAI Document Intelligence to automatically extract and verify the information. The automated data extraction from the receipts will enable the PemPem platform to cross-check and correlate the amounts that farmers are entering with the data extracted from the receipt—ensuring accurate historical records.
The technology will also be used to digitize information regarding the volume and origin of the palm oil traded, creating a more accountable and sustainable supply chain, ultimately helping combat climate change. The technology can easily be applied to other supply chain applications, in different business scenarios.
This project is supported by grant funding provided by Prompt, a non-profit organization dedicated to facilitating partnerships and R&D financing between businesses and the public research sector. This project is one of 65 innovation projects Prompt has chosen to fund this year.
"For these emerging markets, there is a real opportunity to combine the latest and most innovative AI technologies to integrate and evolve traditional ways business has been done, helping people in remote areas of the world gain better business insights, and positively impacting their bottom line," said Joann de Zegher, Founding President of PemPem. "By integrating the Element AI Document Intelligence data-extraction technology into our platform, much needed technical solutions can serve everyday problems, and improve the quality of life for Indonesian micro-firms, provide increased supply chain traceability, and help combat climate change."
"AI is not created just for major global organizations," said Jean-François Gagné, CEO and Founder of Element AI. "It's easy to see how the application of these powerful solutions and tools developed by PemPem are being applied beyond industrial, market-driven applications to offer the benefits of AI, once considered out of reach to traditional markets like the Indonesian palm oil industry," added Gagné.
To learn more about Element AI and AI-powered solutions, visit: https://www.elementai.com/.
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About PemPem
PemPem builds a mobile-based Social ERP, meaning a cloud-based, mobile network that enables participants of informal supply chains (palm oil in Indonesia, for now) to interact digitally. We support a transition out of the informal, cash-based economy into a digital, technology-based one that brings greater efficiency and profit to the value chain, traceability to the supply chain, and sustainability to the sector. http://www.pempem.org
About Prompt
Prompt is a non-profit organization mandated by Québec's ministère de l'Économie et de l'Innovation to support R&D and innovation in the technology and digital sector. Prompt supports different types of partnerships and projects in the R&D field:
1) Private companies and academic researchers (universities, CCTT and public research centers)
2) Complementary private companies
Thanks to the Québec government's financial support, Prompt finances up to 50% of projects' total value that cover all ICT sub-sectors: artificial intelligence, cybersecurity, quantum computing, sustainable mobility and more. Financed projects deal with both software and hardware development, but also on developing components, networks and apps.
About Element AI
Element AI develops AI-powered solutions and services that help people and machines work smarter, together. Founded in 2016 by serial entrepreneurs including JF Gagné and A.M.Turing Award recipient, Yoshua Bengio, PhD, Element AI turns cutting-edge fundamental research into software solutions that exponentially learn and improve. Its end-to-end offering includes advisory services and AI enablement tools and products, aimed at helping large organizations operationalize AI for real business impact. Element AI maintains a strong connection to academia through research collaborations and takes a leadership position in policymaking around the impact of AI technology on society. https://www.elementai.com.
Media Contact
Kevin G Clark, Element AI, 5147540343, [email protected]
Brodie Thompson, Fleishman HighRoad for Element AI, (647) 384-9925, [email protected]
SOURCE Element AI
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