News & Trends
May 30, 2024

Multimodal at South Summit 2024: We Made It to the Finals

Our AI solutions got us selected as one of the South Summit finalists. Here's how they can help businesses work four to five times faster.
Multimodal at South Summit 2024: We Made It to the Finals

Key Takeaways

  • Multimodal is one of the 100 finalists selected for South Summit 2024, taking place from June 5 to 7 in Madrid.
  • We’re part of the “Future of Work & Talent” vertical, focusing on automating tasks typically carried out by staff.
  • Our AI Agents enable businesses to operate four to five times faster and reduce operational costs by up to 80%.
  • Our AI solutions in the mortgage industry enhance document handling and accuracy, allowing loan officers to focus on high-value tasks.
  • Being a South Summit finalist provides a platform to showcase our vision and connect with a global audience of entrepreneurs, investors, and thought leaders.

South Summit 2024 will take place from June 5 to 7 in Madrid, and we’re thrilled to announce that Multimodal was selected as one of the 100 finalists to attend. We’re part of the “Future of Work & Talent” vertical, along with nine other finalists that automate many tasks typically carried out by staff.

AI lets companies finish more work than was previously possible by automating various repetitive tasks. It allows businesses to focus on what truly matters - high-value tasks that fully utilize employee expertise.

Multimodal has been accepted into the South Summit 2024 event, being accepted out of 4500+ applicants from 125 countries

What is South Summit?

South Summit is an annual event that brings together top entrepreneurs, investors, and innovators.

Although we’re part of one particular vertical, South Summit has finalists from other verticals like:

  • Health
  • Enterprise
  • Climate tech
  • Digital culture
  • Trust tech and data
  • Fintech and insurtech

We’re incredibly proud and excited to be recognized among the top innovators in our vertical. It represents our team’s hard work and dedication to changing the future of work using AI solutions.

The Selection Process

Selection process for South Summit 2024, which involves submitting an application, the application is reviewed by juries, and a decision as to whether or not the application is accepted to the final day

In 2023, South Summit held a startup competition that determined which companies would make it to the final cut. We made it to the finals that will take place on June 5-7, 2024, out of 4,500+ applicants from 125 countries. 

“Meet the next generation of startups who are shaping the future.”  - South Summit

We were chosen for our work in automation through AI in industries such as healthcare, insurance, and banking. Our innovative solutions let businesses work more efficiently by automating up to 97% of their workflows.

Our Mission

We aim to change the future of work by leveraging AI to automate complex workflows that require human-like thinking skills, company-specific knowledge, and extreme adaptability. Our goal is to augment—not replace—human creativity, and enable humans to focus on higher-level tasks. 

Specifically, we have four AI Agents that automate different aspects of typical organizational workflows:

These AI Agents let teams operate four to five times faster while reducing operational costs by up to 80%. 

Example: AI in the Mortgage Industry

The automation process in the mortgage industry, which includes document handling, data extraction, data validation, LOS integration, and final review

We work with loan officers who:

  • Handle mortgage application packets
  • Review documents like pay stubs, bank statements
  • Manage tax returns for income and identity verification

They ensure the documents match the application and meet the bank’s requirements. However, missing documents trigger a request for additional information.

Our AI solutions automate these processes by extracting information and pushing it into a Loan Origination System (LOS). Additionally, APIs work behind the scenes to ensure the data is ready for use in the LOS.

This reduces the manual workload, so loan officers can focus on more high-value tasks like providing personalized financial advice. Not only does this boost workflow efficiency, but it also improves accuracy by minimizing human errors.

AI software goes further than just automating certain tasks -  it’s an essential aspect of the bigger picture by helping teams deliver better client and employee experiences.

These solutions can be tailored to specific industry requirements, providing targeted and effective AI applications for diverse business challenges.

Our Goals at South Summit

Our participation in South Summit provides a platform to raise awareness about our mission and innovation.

We’ll explore how AI technology has the potential to reshape roles and manual tasks.

Our goal is to show how our AI solutions aren’t just tools - but a way of completely changing how businesses operate with significantly enhanced productivity and efficiency.

Being selected as a finalist is a tremendous honor and a massive opportunity for us. It will help us showcase our vision to a global audience of entrepreneurs, investors, and thought leaders.

Moving Forward

Celebration for being accepted into the South Summit 2024 finals

We fully believe that our AI solutions have the potential to change the future of work and truly appreciate the chance to share our journey. 

Being selected as one of the 100 finalists among 4,500+ startups is a significant milestone for us. We’ll make the most of this opportunity at South Summit by giving businesses a new perspective on how AI can boost efficiency.

See How AI Agents Can Benefit Your Business 

Curious to find out more about how AI Agents can automate your workflows to boost efficiency? Schedule a 30-minute call with our experts to see how our AI Agents work live and how we can help implement them into your business.

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