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:
ibml with generative AI enhancements for its cloud-native IDP platform
Document processing solutions provider ibml has announced that Cloud Capture, its cloud-native IDP platform, is now powered with generative AI and Large Language Models (LLMs). This simplifies setup and improves out-of-the-box accuracy in classifying and extracting metadata from documents generated from any input source. Susheel John, CMO at ibml, explained: “Simplifying IDP capabilities with the transformative power of secure generative AI and LLMs powered by Microsoft Azure will help more organizations see a faster return on investment and adopt IDP to enable digital transformation of their document processes. ibml Cloud Capture addresses our customers’ greatest pain points when it comes to adopting and implementing IDP. Combined with the benefits of a cloud-native platform that can scale in feature, functionality, or volume, we’re providing a more comprehensive solution with process automation and document management solution that helps our customers easily adopt, grow, and transform all incoming document processes on demand. This is true for any source of document, including paper, email, fax, portals, and more.”
Technology & Cognition LAB launches new prompt customization feature for AIDA-GPT (via newsletter)
IDP vendor Technology & Cognition LAB has launched the latest feature for its IDP solution AIDA, specifically for AIDA-GPT. With the new prompt customization feature, the generative AI functionality is fully customizable, giving each AIDA user the freedom to create configurations that suit their operational and workflow needs. With the ability to create customized prompts, AIDA can be tailored to a variety of industries and professions. Whether it is legal, medical, educational or marketing needs, each sector can configure the prompts to meet their specific language and functionality requirements.
Hyperscience introduces its AI & Ethics committee
IDP vendor Hyperscience has announced its newly formed AI & Ethics committee, which will be led by Erin Millender, the company’s General Counsel. According to Hyperscience, the AI & Ethics committee will focus on advancing the implementation of the company’s AI Ethics principles under four key pillars: Engagement, Education, Policy and Product. In its commitment to Ethical AI, Hyperscience states: “Every organization should benefit from AI’s potential to transform their business processes. But beyond its technological capabilities – we have the responsibility of ensuring that AI is human centered and socially beneficial, fair, safe, and inclusive.”
TRUE with general availability of TRUE Data Intelligence 5.1
Lending intelligence provider TRUE has announced the general availability of TRUE Data Intelligence 5.1. The latest release covers a significant range of the industry with its AI pre-trained on more than 845 document types and provides greater than 99% accuracy on critical mortgage documents. Dr. Ari Gross, CEO of TRUE, explained: “TRUE Data Intelligence 5.1 absolutely sets a new industry benchmark and continues our commitment at TRUE to deliver transformative technology to the mortgage lending market. This release and its capabilities allow lenders of all sizes to experience previously unimaginable velocity in their document processing and decision-making workflows. This is the power of artificial intelligence, trained in the lending lifecycle, which is fundamentally improving the way lenders automate their operation, and how borrowers experience the mortgage process.”
Quantiphi featured on Bloomberg TV and Fox Business News in “Tech Impact”
AI-first digital engineering company Quantiphi has announced that it was recently featured on Bloomberg TV and Fox Business News in the internationally broadcast “Tech Impact”. In the interview, Asif Hasan, Quantiphi’s Co-Founder highlighted Quantiphi’s innovative product offerings, including DART, Dociphi, its IDP solution, and baioniq, its flagship generative AI platform. For Quantiphi, the feature in “Tech Impact” marks a major milestone in its AI-first journey.
📰Article:
How important is Human-in-the-Loop for Intelligent Document Processing solutions?
Relying solely on technology to make decisions in the supply chain can be quite risky. This is where Human-in-the-Loop comes into play at critical points to mitigate these risks and achieve better results. Read this article to gain an understanding of how DOConvert approaches this in its IDP solution.
🎧Podcast:
Hundreds of IDP providers that hardly appear in any report
Check out this 30-minute podcast from the Deep Analysis podcast, in which analysts Dan Lucarini and Matt Mullen discuss (in one of three ten-minute segments) the hundreds of more than capable IDP vendors – “with brilliant teams and specialty products,” as Dan says – that are rarely if ever considered in reports.
💡Opinion:
The Ethical AI Dilemma: Navigating the Future of AI Privacy and Compliance
Read the latest opinion piece by Maxime Vermeir, Senior Director of AI Strategy at intelligent automation company ABBYY, in which he discusses the rapid evolution of AI technologies and the ethical issues and privacy concerns associated with them.
🎥Upcoming Webinar:
August 13, 2024, 11 am EST: How to enhance carrier decisioning through collaborative ecosystems
Register for this webinar hosted by IDP vendor Indico Data to learn how interconnected technologies, AI and data platforms can improve carriers’ decision-making processes.
📆Upcoming Event (in-person):
July 24-25, 2024: AI Pulse by ABBYY – Developer Conference in Bengalaru, India
This event, hosted by ABBYY, will feature speakers and members of the ABBYY product and development team with the goal of bringing the community together.
📌Find more upcoming events and webinars in the Intelligent Document Processing space here.
Thanks for reading and see you next week!
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