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The demo presents smart data extraction using AI within Karissa's cognitive process automation platform, focusing on mortgage documents. These scanned documents, having various formats from different legal firms, are processed by banks during the underwriting phase to extract essential information for risk assessment. The interface shown is designed to identify key data points, like instrument numbers and specific dates, despite the challenge of multiple entries for each. For instance, two instrument numbers and several dates, such as record date and original record date, need to be captured accurately, highlighting the absence of a fixed location for this information within the documents.