Google Releases AI Tool for Processing PPP Loans

Google has developed an AI tool to help lenders process PPP loan applications; the solution, called PPP Lending AI, can automate the handling of large volumes of loan applications by identifying patterns that would take a human longer to spot; it can extract necessary data from critical paperwork and help prepare the documents needed to send to the SBA; PPP Lending AI takes only days to implement and consists of three parts: a loan processing portal, a document AI PPP parser and loan analytics; it also appears to enable lenders to skirt around the ban on robotic process automation that was blamed for the many outages experienced by the E-Tran system on Monday. Venture Beat

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