At Wisedocs, we’re passionate about changing the way document management works in industries like workers’ compensation and insurance. In a recent webinar, “Navigating the New Frontier: The Impact of Artificial Intelligence on Workers’ Compensation Systems,” our co-founder and CEO, Connor Atchison, shared his thoughts on the biggest challenges in document management today and how artificial intelligence (AI) is driving meaningful change. Co-hosted by respected physician Dr. Chris Brigham, Founder of Brigham & Associates, the pair dove into the significant impact of AI on workers' compensation systems, exploring its potential applications, advantages, and how it can revolutionize the way we approach claims assessments to support injured workers and allow organizations to scale. With 38% of companies exploring generative AI and 34% already using it in limited production, this technology is starting to transform workflows and improve outcomes across the industry.

Current Issues in Document Management

Handling documents can sometimes feel like an uphill battle, especially with outdated manual processes slowing processes down and driving up costs. Many insurance companies spend as much as 20% of their labor budgets on document-related tasks, and manual systems often fail to account for the nuanced needs of different claim types. Each claim whether it’s an auto accident or a disability case comes with its own complexities, requiring tailored tools to extract and process the right information.

AI Adoption and Its Transformative Benefits

AI is transforming the way we work, stepping in to take on repetitive tasks and making workflows smoother, faster, and less draining for manual workers. It’s important to pair AI adoption with a clear strategy customized to the needs of the organization. While implementing AI can feel daunting due to challenges like initial setup, training, or user adoption, AI platforms such as Wisedocs provide intuitive tools and dedicated support to make the transition easier. Tools like extractive models, which pull out key details, and generative models, which provide summaries, are already helping organizations address the growing strain on teams. With 400,000 claims adjusters expected to leave the workforce by 2026, these tools are becoming essential for bridging gaps and maintaining efficiency.

Generative vs. Extractive AI

Generative AI acts like a storyteller, crafting summaries and providing big-picture insights, while extractive AI focuses on precision, identifying specific details with accuracy. The generative AI market is expected to grow rapidly, with projections showing a 46.47% annual growth rate from 2024 to 2030, reaching an impressive $356.10 billion. Together, these algorithms form a balanced method to tackle data challenges. Wisedocs uses this combination to handle everything from summarizing patient histories to extracting critical medical details, helping organizations process documents faster and with greater confidence.

Ethics, Accuracy, and Reliability in AI for Medical Records

Managing medical records demands meticulousness, and outdated processes often lead to slow and error-prone workflows. Wisedocs addresses these challenges by combining advanced tools like optical character recognition (OCR) and intelligent OCR, ensuring handwritten or fragmented records are processed accurately. Wisedocs’ solution is able to flag inconsistencies in medical records, such as conflicting claimant records or missing information, enabling faster, more reliable resolutions during claims processing.

AI’s ability to detect these inconsistencies adds another layer of reliability, reducing errors and improving decision-making. With document processing up to 70% faster, Wisedocs helps teams focus on high-value tasks while maintaining transparency, accountability, and ethical standards.

AI’s Role in Building a Smarter Future

AI is already transforming the way we manage documents, easing workflows, and addressing long-standing challenges. But this is only the start. As AI technologies continue to evolve, they hold the potential to reduce costs even further, enhance decision-making with greater precision, and improve outcomes for organizations and the people they serve, whether that’s claimants, patients, or teams handling critical records.

The future of document management lies in tools that streamline tasks, provide deeper insights, create efficiencies, and empower professionals to focus on the work that genuinely matters. At Wisedocs, we’re excited to be part of this journey, helping organizations harness the power of AI to unlock new possibilities and build a more efficient, reliable future.