In this section, we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, podcasts, reports and more.
What we cover in this week’s recap:
News:
Xiao-I launches its Intelligent Document Processing solution Cognitive intelligence company Xiao-I has announced the launch of its Intelligent Document Processing (IDP) solution. Hui Yuan, CEO and Chairman of Board of Directors of Xiao-I, commented: “Our IDP solution, which is integrated with our leading RPA capabilities, showcases its adaptability across an array of sectors including finance, banking, insurance, healthcare, retail, e-commerce, government, and human resources as well as in standard document processing scenarios. As we see the adoption of our IDP product growing exponentially, our commitment to empowering businesses through digital and intelligent solutions remains. We envision a smarter, more efficient future, and we are dedicated to making that vision a reality by nurturing digital transformation and harnessing the power of innovation.”
RaccoonDoc gets selected as one of the top 50 startups in the region IDP vendor RaccoonDoc (out of Ukraine, as Deep Analysis’ Dan Lucarini shares in his startup story) announced that it has been selected as one of the top 50 startups in the region and has secured a coveted spot in the Genesis StartUp Academy together with Meta. This is an initiative that aims to provide a learning experience while fostering personal connections between participants. Among 1.650 applicants from more than 30 countries, the IDP vendor emerged as one of the top contenders. By joining the program, RaccoonDoc expects to gain insights, acquire knowledge, and build meaningful connections within the startup ecosystem. Igor Svitelskyi, Founder of RaccoonDoc, said: “We are poised to take RaccoonDoc to new heights, leveraging the knowledge, connections, and resources gained from the Genesis StartUp Academy together with Meta.”
New product releases from IDP providers Indico Data, Docugami, Alkymi and SS&C Blue Prism IDP vendor Indico Data has released its new out-of-the-box model offerings, allowing users to add them to an existing workflow alongside custom models or use them alone to streamline any workflow. IDP provider Docugami has announced the integration of LangChain, one of the most popular frameworks for simplifying the creation of applications using LLMs, into its platform to create applications that allow users to chat with their own business documents. IDP vendor Alkymi has released its latest feature, Advanced Validation, which makes it easier for users to validate and approve data based on their specific business logic. Last but not least, SS&C Blue Prism has released a series of product updates for its intelligent automation platform that help organizations derive value from intelligent automation programs.
Parashift partners with Swisscom Conextrade IDP vendor Parashift announced that it has partnered with Swisscom Conextrade, a B2B platform for digitized procurement and invoice processing in Switzerland. Through this partnership, Swisscom Conextrade is now using Parashift’s IDP platform to process scanned invoices in a more efficient and accurate manner. Furthermore, the two companies also work together at the sales level.
Cortical.io’s NLP gets selected by Stagwell Marketing Cloud IDP vendor Cortical.io announced that it has been selected by Stagwell Marketing Cloud, a suite of SaaS solutions that powers research, communications, and media activation for in-house marketers. Cortical.io now integrates its Natural Language Processing (NLP) technology into Stagwell Marketing Cloud’s product offering to extract and analyze content from customers’ media materials to help power integrated communications campaigns.
Cogent Labs forms capital and business alliance with transcosmos IDP provider Cogent Labs announced that it has formed a capital and business alliance with Global Digital Transformation company transcosmos to further expand the application areas combining their technologies and strengths. transcosmos has already adopted Cogent Lab’s IDP solution SmartRead, promoting the efficient conversion of document data from a wide range of documents, including drawings and transactional documents such as invoices.
Article:
How important is capture in document-based process automation? Read this article by Arnold Von Büren, CEO of IDP provider TCG Process, to learn more about the history and evolution of capture software and why it remains a critical aspect of Intelligent Document Processing.
Podcast:
The rise and adoption of LLMs, and is AGI just around the corner? Watch this 50-minute podcast to enjoy a both entertaining and informative discussion on AI, Large Language Models (LLMs), Artificial General Intelligence (AGI), a potential upcoming data regulation, and more.
See you next week!
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