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:
ABBYY and IBM watsonx.ai join forces to help organizations optimize their workflows and unlock the full potential of their data
Intelligent Document Processing vendor ABBYY has announced that it has joined forces with IBM watsonx.ai. Thanks to this partnership, ABBYY is integrating Vantage, its IDP platform, with IBM watsonx.ai, IBM’s platform for the development and deployment of AI-powered applications, to combine the strengths of natural language processing, computer vision, and machine learning to extract, analyze, and act on data from any source and format, along with the capabilities offered by LLMs to further accelerate business processes. Maxime Vermeir, Senior Director of AI Strategy at ABBYY, explained: “We are confident that the integration of ABBYY’s purpose-built IDP platform, Vantage and IBM watsonx.ai will be a game-changer for the market. We believe that this integration will offer a unique value proposition for data-driven businesses, as it will enable them to leverage the power and potential of different AI technologies to optimize their data and workflows. We also believe that this integration will create new opportunities and possibilities for innovation and differentiation, as it will allow users to customize and tailor their solutions to their specific needs and preferences.”
Anant Bhardwaj, Founder and CEO of Instabase, is named one of The Top 50 Software Entrepreneurs of 2024
Intelligent Document Processing vendor Instabase has announced that its founder and CEO, Anant Bhardwaj, has been named one of The Top 50 Software Entrepreneurs of 2024 by Great Entrepreneurs. The honorees were selected following a methodical nomination process and taking into account each candidate’s track record and industry contributions. Instabase wrote: “Anant’s vision and leadership have been instrumental in shaping Instabase’s journey, driving innovation that empowers businesses to solve complex challenges through Applied AI. This recognition highlights his commitment to transforming how organizations unlock efficiency, streamline workflows, and achieve meaningful impact.”
UiPath opens new AI Innovation Hub in London
Enterprise automation and AI software company UiPath has opened a new AI Innovation Hub and office in London. According to UiPath, this location was chosen “due the UK’s position as a global centre hub and a world leader in AI-enabled business transformation”. Daniel Dines, Co-Founder and CEO at UiPath, commented: “This office and AI hub represents a major opportunity for the UK’s innovation ecosystem. It will allow UiPath to work with the brightest minds to pioneer a new approach to AI while also generating a flywheel effect, bringing together the resources, knowledge and business approach to support the UK’s most cutting-edge AI start-ups.”
Hyland appoints Prasenjit Dasgupta as its new EVP and CFO
Intelligent content solutions provider Hyland has announced the appointment of Prasenjit Dasgupta as its new Executive Vice President (EVP) and Chief Financial Officer (CFO). He will lead the company’s global finance organization and contribute to Hyland’s strategic direction as a member of the executive leadership team. Prasenjit Dasgupta brings more than two decades of financial leadership experience to Hyland, including positions at Motorola Solutions and Microsoft. Most recently, Prasenjit Dasgupta served as CFO at Digital.a. Jitesh Ghai, President and CEO of Hyland, commented: “Prasenjit is an outstanding leader with a proven track record of delivering results in complex, fast-paced environments, and we are excited to have him on Hyland’s leadership team. His extensive experience in cloud transformation, managing complex financial operations and driving growth will be invaluable as we continue to innovate and support our customers in navigating a digital-first world.”
Datamatics expands presence in the Philippines with a new delivery center
Intelligent Document Processing provider Datamatics has announced that it has expanded its presence in the Philippines with a new delivery center in Cebu City. The new delivery center is equipped with cutting-edge infrastructure and a talented local workforce, designed to enhance Datamatics’ global service capabilities. It also reflects the company’s ongoing commitment to delivering innovative solutions and exceptional customer experiences, while strengthening the growing economic and technological ties between India and the Philippines.
Klippa joins forces with Integration made Easy by Dovetail
Intelligent Document Processing vendor Klippa has announced a partnership with IT services provider Integration made Easy by Dovetail. Thanks to this partnership, Klippa’s IDP platform DocHorizon is now available to Dovetail partners, helping them to automate the processing of various documents, from vendor invoices to personal identification documents.
📰Article:
2025 Guide to OCR Accuracy: Choosing the Right API for Your Business
In this guide from Mindee, an API-first platform that helps developers automate applications’ workflows, the team explains what OCR accuracy really means, why it’s so important to businesses, and how to evaluate it effectively. In doing so, Mindee addresses key metrics such as Exact Match Rates, Word Error Rate (WER), and Character Error Rate (CER) to help you measure accuracy.
Overcoming the Limitations of LLMs: Advanced Content Retrieval and Reasoning
“The first steps on the journey to document understanding are digitizing, parsing, and representing documents accurately,” writes IDP vendor Instabase. In this article, the IDP vendor addresses the next key challenge for businesses: extracting meaningful insights from large volumes of unstructured data.
📝Interview:
The evolution of document management – an interview with AIDA’s Giorgio Xhaxho
Check out this (written) interview with Giorgio Xhaxho, Co-Founder and CEO of Technology & Cognition LAB with its IDP solution AIDA, as he takes you through the remarkable transformation that document management has undergone in recent decades, exploring the impact of pioneering platforms such as Documentum, the challenges of document retrieval and the role of hardware in making it all possible.
🎧Podcast:
Deep Analysis 2025 Market Trends Predictions Special
Last week, analyst firm Deep Analysis published its report “Market Trends: Predictions for 2025”, which includes some predictions for the Intelligent Document Processing market. This week, Alan Pelz-Sharpe and Dan Lucarini join Matt Mullen to review their predictions for 2024, as well as one of their predictions for 2025.
How AI Is Used for Extracting Data From Financial Documents
Watch this podcast with Martin Goodson, CEO of IDP vendor Evolution AI, where he shares his insights on intelligent data extraction.
💡Opinion:
Does Generative AI Make Sense When Processing Transactional Documents?
Read the latest opinion piece by Brent Wesler, VP of Strategic Technology and Digital Automation at PiF Technologies, as he breaks down Azure AI Document Intelligence, Azure OpenAI and Microsoft Power Automate AI Builder/AI Hub – the options Microsoft customers have to leverage Machine Learning around documents – and which solution within Microsoft offers the best price vs. functionality ratio for processing procurement documents.
🎥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.
Seasons of Change: Future-Proof Your Business with Hyperscience
Join IDP vendor Hyperscience for this webinar to learn how AI-native hyperautomation is revolutionizing document processing, outperforming traditional legacy systems, and driving efficiency and innovation.
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 Event (in-person):
March 31 – April 2, 2025: AI+IM Global Summit 2025 in Atlanta, US
Join AIIM at the AI+IM Global Summit 2025 for 2.5 days of world-renowned speakers, hands-on workshops, and cutting-edge technology showcases tailored to empower information leaders like you. Register before 12/31 and save $600.
📌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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