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:
KnowledgeLake launches Synthetic Labor, a unified, scalable AI-powered platform
IDP provider KnowledgeLake has announced the launch of Synthetic Labor, its unified, scalable AI-powered platform that combines Intelligent Document Processing, workflow automation, Robotic Process Automation and content management. According to KnowledgeLake, Synthetic Labor acts as an intelligent workforce, helping companies overcome work challenges by optimizing work distribution, automating low-return tasks, reducing costs, ensuring consistent results and facilitating collaboration with employees. This strategic approach aims to enable companies to achieve greater efficiency, productivity and growth. Russ Malz, VP of Sales for KnowledgeLake, explained: “With Synthetic Labor, we’re not just automating tasks; we’re transforming entire business processes. This innovation enables organizations to minimize human error, optimize operations, and focus more on strategic initiatives.”
Instabase partners with İşbank to streamline their money order processing
IDP vendor Instabase has announced a partnership with İşbank, Turkey’s largest privately owned bank. Thanks to this partnership, Instabase streamlines İşbank’s money order processing, optimizing the bank’s operations, improving data accuracy and increasing customer satisfaction. Darragh Byrne, Partnerships Lead at Instabase, commented: “We are thrilled to partner with İşbank and contribute to their digital transformation journey. By utilizing the Instabase powered Commonfax solution, İşbank can streamline their money order processing, enhance accuracy, and provide faster services to their customers.” Meltem Vural, Head of Enterprise Architecture at İşbank, explained: “At İşbank, we are constantly seeking innovative solutions to improve our operational efficiency and customer satisfaction. Partnering with Instabase and leveraging their advanced AI technology, facilitated by our subsidiary Maxitech, enables us to revolutionize money order processing, reducing costs and improving service delivery. We’re thrilled to be the first in Türkiye to deploy such a cutting-edge AI solution, which has yielded evident and measurable benefits to our business.”
Stelo.ai joins forces with ebankIT to offer modern document verification and customer onboarding solutions
IDP provider Stelo.ai has announced a strategic partnership with financial services provider ebankIT. This strategic partnership brings together Stelo.ai’s intelligent automation solutions with ebankIT’s digital banking platform to offer modern document verification and customer onboarding solutions.
BIS launches GrooperAI, the latest version of its intelligent automation software
IDP provider BIS has announced the launch of GrooperAI, the latest version of its intelligent automation software. GrooperAI provides organizations with a Google-like search experience to easily find and leverage valuable data. Dan Rotelli, CEO of BIS, explained: “In today’s fast-paced business environment, people need to find their documents quickly. Traditional enterprise content management systems fall short, leaving users struggling to find the information they need. GrooperAI will give organizations a Google-like search experience that empowers them to quickly locate and leverage their valuable data.” He continued: “These innovations mark a pivotal shift toward smarter, more adaptable, and financially transformative automation. GrooperAI is at the forefront of the next generation of automation, where understanding and acting on complex data in real-time is key to staying competitive.”
Rossum and Qiado join forces to combine Intelligent Document Processing with experience in end-to-end SAP processes
IDP vendor Rossum has announced that it has joined forces with Qiado, a finance transformation expert and SAP partner, to combine its AI-powered document automation platform with Qiado’s SAP expertise to help organizations streamline their entire financial ecosystem. David Jamieson, Global Alliances Director at Rossum, commented: “Qiado’s deep understanding of the finance and P2P functions, combined with their SAP and industry expertise, makes them an ideal partner for Rossum. Together, we will empower organizations to unlock the full potential of automation and drive significant improvements in business efficiency.”
💡Opinion:
Commercial Consumption of Document AI – How Legacy and Newcomer IDP manufacturers handle LLMs and SLMs
Read the latest opinion piece by Brent Wesler, VP of Strategic Technology and Digital Automation at PiF Technologies, a system integrator of document-based workflow automation, in which he discusses how legacy IDP providers compete with cloud IDP vendors and start-ups, and the role AI data model methodologies play in the cost and architecture of a solution.
🎥Upcoming Webinars:
September 19, 2024: Intelligent Automation Month – Session 3 of 4
Register for ABBYY Intelligent Automation Month with four webinars focused on increasing efficiency and ROI through AI. The third session is a fireside chat with executives from ING, a global financial institution, and Reveal Group, a global intelligent automation services company, where you’ll gain insights into the latest AI technology trends and learn how to use purpose-built AI to solve common business challenges.
September 19, 2024, 11 am CST: Redefining Work at the County Level with AI
Following the launch of Synthetic Labor (see above in the news), sign up for this webinar from IDP provider KnowledgeLake to learn how Synthetic Labor is helping county governments prepare for ongoing demographic changes and workforce challenges.
📆Upcoming Event (in-person):
September 18, 2024, 5:45 pm EST in Boston, US: Applied AI strategies for private markets: Boston happy hour
Join Alkymi for a panel discussion in Boston where industry leaders from HarbourVest Partners, Liberty Mutual Investments and Cutter Associates will discuss ‘Applied AI strategies for private markets’.
📌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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