The company leveraged Code Crafted to automate classifying small and medium-sized businesses (SMBs) into appropriate Standard Industrial Classification (SIC) codes
Problem
Manual assignment of SIC codes for SMBs was time-consuming and error-prone, creating bottlenecks in the lending process and requiring significant human resources
reduced manual processing time by 80%
Solution
Implemented Code Crafted's integrated AI solution combining conversational AI, generative AI, and machine learning capabilities to automatically determine accurate SIC codes based on business information from various sources
achieved over 85% accuracy in SIC code classification
Results
Achieved industry-leading accuracy in SIC code mapping while significantly reducing processing time
supports batch processing capabilities