Extracting structured data from contracts using Box AI, Airbyte, and MotherDuck
Blog post from Box
Many companies face challenges in extracting structured data from unstructured documents like lease contracts, which contain vital information such as property details, lease terms, and tenant names. A conceptual solution using Box AI, Airbyte, and MotherDuck automates this extraction process, enabling the data to be stored in a queryable database. Box AI extracts the data, Airbyte transfers it, and MotherDuck stores it for easy querying. An Airbyte source connector, "Box data extract," facilitates interaction with Box AI, although it is still pending approval. By leveraging AI's ability to understand document context and handle format variations, this system processes multiple contracts efficiently, demonstrated by processing 50 contracts in about four minutes. While initially focused on lease agreements, this methodology can be applied to various document types, such as invoices, legal contracts, and financial reports, offering businesses opportunities for automation in workflows, CRM, regulatory compliance, ERP systems, and financial analysis. Despite the efficiency, businesses must review the AI-generated data for errors before use, ensuring data quality and consistency.
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