In this section we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, upcoming webinars, events and more.
What we cover in this week’s recap:
🗞️News:
Deep Analysis publishes its “Market Trends: Predictions for 2025”, including two forecasts for the Intelligent Document Processing market
Analyst firm Deep Analysis has published its latest report “Market Trends: Predictions for 2025”. Each year, the analyst firm reflects on the past year and what the team expects for the year ahead. This year’s report contains 11 predictions, including two for the Intelligent Document Processing market. 1. To grow, IDP companies must now cross the border: Deep Analysis states: “With this core IDP value (reading documents accurately) becoming increasingly commoditized by the hyperscalers or the nimble startups, IDP companies will be squeezed hard to find more growth. They must find ways to move up the value chain by adding more functionality that previously existed only on the other side of that border.” And the second prediction for the IDP market for 2025: 2. IDP consolidation will accelerate as every business application vendor realizes it needs a steadily flowing pipeline of unstructured data: Deep Analysis writes: “In 2024, we saw a few acquisitions of IDP companies by application companies. However, this trend will only accelerate in 2025 as unstructured data becomes the new big data for business applications.” Download the full “Market Trends: Predictions for 2025” report here.
Cognaize is named a finalist for “Best Use of AI in Financial Services” at FStech Awards
Intelligent Document Processing vendor Cognaize has announced that it has been shortlisted for the 2025 FStech Awards in the “Best Use of Artificial Intelligence in Financial Services” category, marking a significant recognition of its innovative AI solutions. The FStech Awards, celebrating its 25th year, honor outstanding achievements in the UK and EMEA financial services sector. This nomination highlights Cognaize’s commitment to developing transformative AI technologies that enhance decision-making and operational efficiency for financial institutions. The winners will be announced on March 13, 2025.
Kodak Alaris and Publisure selected for Government G-Cloud 14 Framework
Intelligent Document Processing provider Kodak Alaris has announced that it has been selected, along with Publisure, for the Government G-Cloud 14 Framework. The G-Cloud 14 framework provides public sector organizations and charities with a compliant, straightforward method to procure cloud-based services through the Digital Marketplace, offering pre-approved, pay-as-you-go solutions. As part of this award, Publisure will offer the jointly developed Intelligent Communications Platform, which combines Intelligent Document Processing solutions from Kodak Alaris and Publisure’s middleware multi-channel communications platform to provide customers with a single integrated workflow for managing inbound and outbound content. Graham Etherington, Northern Cluster Solutions Sales Director at Kodak Alaris, commented: “Working with Publisure enables us to expand our integrated product offerings, add value to our existing data capture solutions in the NHS and central government marketplaces and enable them to cost effectively deliver their ‘digital by default’ paper-lite communication strategies. The solution enables organisations to centralise all communications in a single environment and create a secure, auditable, and cost-effective workflow that will transform how they process both inbound and outbound mail.”
Unstructured launches its new Enterprise ETL platform
Intelligent Document Processing provider Unstructured has announced the launch of its new enterprise ETL (extract, transform, and load) platform that automates the complex process of transforming unstructured data in any format and from any source into organizations’ GenAI stack. Among the new key features are: no-code UI, SOC 2 Type 2, HIPAA, & GDPR compliance, 50+ connectors. Brian S. Raymond, Founder and CEO of Unstructured, commented: “Platform automates all ingesting and preprocessing operations “to-the-left” of vector and graph databases. With Platform you can schedule jobs to pull data from your system record of choice; use our models and/or third-party models to transform them to JSON; chunk them; embed them; and then write them to your destination of choice. In less than three minutes you can stand up and deploy pipelines that will continuously hydrate your GenAI data layer with RAG Ready data.”
ACORD Solutions Group joins forces with Ping to transform property risk assessment
Intelligent Document Processing provider ACORD Solutions Group has announced a strategic partnership with insurtech provider Ping. The partnership will combine Ping’s Property Statement of Values (SOV) technology with ACORD Transcriber’s data extraction and population AI models to process all ACORD forms. This enables a seamless workflow for P&C insurers to easily extract SOVs and automatically feed them into catastrophe models. By combining Ping’s property statement of values (SOVs) technology with ACORD Transcriber’s Intelligent Document Processing capabilities, the partnership streamlines how underwriters analyze complex property documents. Chris Newman, President International at ACORD Solutions Group, commented: “We’re pleased to partner with Ping to facilitate straight-through processing for the property market faced with complex SOV documents. This ongoing partnership brings together a groundbreaking solution powered by a tremendous depth of property insurance subject matter expertise across both Ping and ACORD Solutions Group. This is an exciting example where industry owned capabilities combined with innovative technology is producing transformative changes.”
📰Article:
Context Cloud: The Future of Document Extraction (Part 2)
In Part 1, Intelligent Document Processing vendor AntWorks explained the limitations of current data extraction methods and the challenges posed by the complexity of real-world documents. AntWorks also presented the development of a new approach that improves the data extraction process. In Part 2, the IDP vendor now goes into more detail about its proposed approach.
💡Opinion:
IDP Practice: Go Global, or Go Bust
Read the latest opinion piece by Petr Baudiš, Co-Founder and CTO at Rossum, in which he explains the issues that decision-makers in organizations often face when seeking Intelligent Document Processing solutions – and what they should look out for on the road to success.
Does Generative AI Make Sense When Processing Transactional Documents?
“Users are faced with so many choices in the market for IDP that it’s almost impossible to compare apples to apples when it comes to functionality and cost,” says Brent Wesler, VP of Strategic Technology and Digital Automation at PiF Technologies. Stay tuned for his opinion piece next week.
🎥Upcoming Webinars:
December 17, 2024, 2 pm EST: AI & Automation Trends – 2024 Insights & 2025 Outlook
Register for this webinar and join AIIM President & CEO Tori Miller Liu and AIIM FL Chapter leader Craig Laue, as they explore key industry statistics, implementation challenges and emerging trends that will shape information management in 2025.
December 19, 2024, 1 pm EST: How Agentic AI is Driving the Next Evolution of Enterprise AI
Register for this webinar hosted by IDP provider Nividous to get insights on how agentic AI is reshaping the enterprise landscape. From improving customer experiences to streamlining operations, agentic AI is helping organizations build AI ecosystems that go beyond predictions and recommendations, empowering intelligent systems to act with purpose and context.
📆Upcoming Events (in-person):
December 11 – 12, 2024: The AI Summit New York in New York, US
The AI Summit New York unites the most forward-thinking technologists and business professionals to explore the real-world applications of AI. This year’s event includes a fireside chat with Max Vermeir, Senior Director of AI Strategy at ABBYY, and Tom Ivory from IBM, as they will give an insight into the future of automation with AI agents.
March 31 – April 2, 2025: AI+IM Global Summit 2025 in Atlanta, US
The usual annual AIIM Conference is evolving into the AI+IM Global Summit. AI+IM Global Summit 2025 will explore the intersection of AI and information management. During the 2.5-day strategic, intimate event attendees will find practical advice, meaningful industry connections, and innovative ideas. Register now and benefit from a whopping $600 discount (all registrations before December 31, 2024).
📌Find more upcoming events and webinars in the Intelligent Document Processing space here.
Thank you for reading and see you next week!
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