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:
codemantra introduces Calibrai, its new brand utilizing AI/ML and Gen AI technologies IDP vendor codemantra has introduced Calibrai, its new one-stop solution for content transformation and remediation. According to codemantra, the company will continue to focus on service offerings, while the focus of Calibrai’s offerings will be on software-enabled IDP automation through its CX-One platform. The CX-One platform uses AI/ML and generative AI technologies in conjunction with Human in the Loop to provide a comprehensive solution for content extraction, content conversion, metadata management and integration with downstream systems, customized to each organization’s business rules. Sajeel Hussain, codemantra’s Chief Business Officer, commented: “The CX-One platform from Calibrai represents the future of Intelligent Document Processing. Our advanced IDP platform optimizes the value of content that has until now been locked into traditional forms, turning unstructured data into structured data at scale, which can be analyzed and made available to other applications, not just end users.”
OpenBots kicks off 2024 with a significant customer expansion Intelligent automations solutions provider OpenBots has announced that 2024 has started on a positive note with a significant customer expansion and the transition from a startup to a mature company serving numerous customers and global partners. Gilberto Marcano, CMO of OpenBots, commented: “We are incredibly proud of the significant advancements made in such a short time. Our global customer base is a testament to the effectiveness of our solutions in enhancing operational efficiency. The year 2024 is all about our customers and their success.” In addition, OpenBots announced the launch of its new campaign “Automating Document Data into Enterprise Systems”, aimed at eliminating operational fragmentation and reducing repetitive manual tasks. Jason Dzamba, Director of Media Relations at OpenBots, said: “We’re thrilled to be hosting a series of virtual events designed to showcase the power of intelligent automation. These events will offer valuable insights into how businesses worldwide are transforming their operations by processing thousands of documents efficiently and automating mundane tasks.”
TCG Process adds LLM document understanding to its IDP solution IDP provider TCG Process has announced a partnership with Lazarus AI. Lazarus AI has developed enterprise-grade multimodal models that classify, extract and summarize data from documents and images without the need for additional training, regardless of their type, format or language. Through this partnership, TCG Process is adding Lazarus AI’s advanced document understanding capabilities to its IDP solution, DocProStar. Neil Walker, Head of Product at TCG Process, explained: “Being able to combine and orchestrate the results from specialist AI services with our own powerful document processing capabilities not only helps deliver the highest levels of process automation, but also opens up new use cases, enabling more analytical processing.”
Alkymi speeds up the data review processes of Thompson Street Capital Partners IDP vendor Alkymi has announced that private equity firm Thompson Street Capital Partners (TSCP) has selected the company to accelerate its review of industry and market information. This process includes analyzing large volumes of unstructured data. For this reason, TSCP chose the IDP vendor with its generative AI tool Alpha (Alkymi has developed Alpha specifically for financial services use cases – it is based on next-gen Large Language Model (LLM) technology) because it is able to accelerate the review and processing of data and also expand the type of information that can be captured, while providing assurance in the security of its proprietary data.
DOConvert now available on Product Hunt IDP vendor DOConvert has announced that its IDP solution is now on Product Hunt. Avi Rafalson, Co-Founder and CEO of DOConvert, commented: “Thrilled to see DOConvert launch on Product Hunt! I came across this tool while looking for a solution to streamline data entry from documents directly into our ERP system.”
Anthony Macciola joins ImageSource’s Board of Advisors ImageSource with ILINX, its flexible process-improvement platform, has announced that Anthony Macciola has joined its Board of Advisors. Anthony Macciola brings decades of experience in software, hardware, and algorithm development. He previously held various leadership positions at Kofax, served on the Board of Directors of AIIM and most recently was Chief Innovation Officer at ABBYY. Anthony Macciola commented: “I am excited to join the ImageSource Board of Advisors. ImageSource is demonstrating leadership in process innovation for their customer partners and their vision for the ILINX platform. Contributing to the company’s continued success in solving real-world business problems is an honor. I look forward to working closely with the talented team at ImageSource.”
AIIM reveals new strategy system and objectives for 2024 Read the article by Tori Miller Liu, President and CEO of AIIM, to learn about AIIM’s new “strategy system” for 2024 and the four objectives they have set for this year.
Upcoming webinar:
How to go from Large Language Models to Precise Language Models? Register for this upcoming webinar on January 18, 2024, hosted by IDP vendor Cognaize and with its Founder, CTO & CPO, Vahe Andonians. In this interactive webinar, you will gain practical insights into the evolving world of language models and their application to finance use cases. You will learn to better understand the complexities of hallucinations for regulated industries and effective strategies for deploying AI solutions without compromising on quality.
🚨Newly launched🚨
Opinion:
Digital Darwinism: How is narrative document processing dividing the Intelligent Document Processing market? Read the article by Christopher Helm, CEO of Helm & Nagel GmbH with its IDP solution Konfuzio, and find out why narrative document processing is dividing the IDP market. This article also marks the first thought leadership article in this new section called ‘Opinions’. Stay tuned for more thought-provoking insights on IDP-related topics from the industry’s leading minds.
See you next week!
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