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:
Base64.ai appoints CRO, SVP of Sales and SVP of Partner Ecosystem IDP vendor Base64.ai has announced the appointments of Matt Mallette as Chief Revenue Officer, Mike Chasteen as SVP of Sales and Chris Maertz as SVP of Partner Ecosystem. Just a few months ago, Base64.ai announced the appointment of Chris Huff as CEO and Jeff Thomas as interim CMO, with Ozan Bilgen, Founder and former CEO of Base64.ai, assuming the role of CTO. Matt Mallette joins from CFO Solutions, where he served as SVP of Sales, Mike Chasteen joins from Tungsten Automation, where he served as SVP of Americas Sales, and Chris Maertz joins from IDP vendor Instabase, where he held the role of Head of Partnerships. Chris Huff, CEO of Base64.ai, commented: “The IDP market is at an inflection point, with recent AI innovations around GenAI and Large Action Models (LAM’s) challenging the industry to accelerate innovation or face consequences. As an AI-first company, we’re leading the way with a modern platform that goes beyond simple ingestion to document intelligence and autonomous action. Matt and Mike’s proven track record in sales leadership will be instrumental as we help customers and partners adopt next-generation AI document intelligence solutions and propel Base64.ai to its next phase of growth.” With these latest appointments of experienced executives, the IDP vendor is sending a clear signal for the company’s growth trajectory.
Kanverse.ai launches Opal release, combining its patented multi-stage Al engine with the latest LLMs IDP vendor Kanverse.ai has launched Opal, its latest release, which brings overall enhancements to its Intelligent Document Processing platform as well as combining its core AI engine with the latest large language models (LLMs), including OpenAI/ChatGPT, Azure OpenAI, Google Gemini and Anthropic Claude. Dr. Akhil Sahai, Chief Product Officer at Kanverse.ai, explained: “In the Opal release, we have further enhanced our offering with a meta-model framework that combines the core AI engine with the enterprise versions of the latest LLMs, namely OpenAI GPT, MS Azure OpenAI, Google Gemini, and Anthropic Claude. This cutting-edge meta-model framework allows us to leverage AI and Generative AI, ensuring the best possible extraction accuracy across the widest range of document types and complexity. You can be supremely confident in the capabilities of our industry-leading offering.” In addition, Kanverse.ai now offers AI-powered workflows, a new business rules library menu, advanced search and bulk retrieval, and new AP invoice automation features (including simultaneous user notification in the document viewer, Multi Table support in invoices, and support of documents in ZIP files for ingestion).
Automation Anywhere introduces suite of AI-powered automation solutions AI-powered process automation solutions provider Automation Anywhere has unveiled its latest AI-powered innovations at Imagine Austin 2024. In addition to introducing its new AI + Automation Enterprise System with generative AI process models to accelerate discovery, development and deployment of AI process automation, Automation Anywhere also announced enhancements to Document Automation, its IDP solution. Adi Kuruganti, Automation Anywhere’s CPO, explained: “We’ve also augmented Document Automation, our AI-powered intelligent document processing, with cutting-edge generative AI that you can tailor to any document type and add to existing automations for increased speed, accuracy, and compliance. Document Automation now supports on-premises for generative AI by connecting to private cloud generative AI models on all major hyperscalers, unlocking any document type, and new document table extraction with generative AI pulls more complex table information from documents.”
Klippa with new release for DocHorizon IDP vendor Klippa has announced a major release for DocHorizon, its Intelligent Document Processing platform. Yeelen Knegtering, Co-Founder and CEO of Klippa, pointed out the highlights of the release: Out-of-the-box models for identity documents, salary slips and bank statements. Stand-alone barcode scanning and automatic cropping of components within a specific page is possible. DocHorizon now supports more document formats including JPEG, PNG, PDF, HEIC, Webp, DocX, XLSX and RTF. And last but not least, Klippa has introduced an interface for usage statistics.
📰Article:
Entity extraction: What is it and how does it work within the framework of IDP? Read this article by IDP vendor Planet AI to learn what entity extraction is, especially in the context of Intelligent Document Processing, and why it’s so critical for businesses.
💡Opinion:
Leveraging Large Language Models for Secure Document Processing: Challenges and Alternatives Stay tuned for the opinion piece by Ben Cheng, Founder & CEO at Intelligent Document Processing vendor FormX.ai. In the meantime, discover more opinion pieces from thought leaders in the IDP industry.
🎥Upcoming Webinars:
June 20, 2024: Streamline business processes and free employees from repetitive tasks (IT only) Register for this webinar hosted by IDP provider Docusense and learn how your organization can leverage an innovative solution that transforms document management, streamlines business processes and frees employees from repetitive tasks.
June 27, 2024: AI & Automation: Revolutionizing Payment Processing in Financial Services Register for this webinar hosted by IDP provider Nividous to gain insights into the latest trends and innovations in payment processing, real-world use cases of Intelligent Automation in streamlining operations, strategies for overcoming common challenges in financial transactions, how AI-driven solutions enhance accuracy, speed, and compliance, and the future landscape of financial services with advanced technologies.
📆Upcoming Event (in-person):
June 24-26, 2024: Intelligent Automation Week in Dallas, US This event will provide insights into the latest intelligent automation trends for business growth in 2024, including GenAI, automation, cost reduction, and improved experiences.
📌Find more upcoming events in the Intelligent Document Processing space here.
Thanks for reading and see you next week!
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