Version 2.1 of OpenBots Documents with GPT combines existing machine learning (ML) components and Microsoft Azure’s GPT technologies to extract and analyze data from documents such as invoices, contracts, and forms in industries including healthcare, finance, legal and banking.
OpenBots, a business automation platform including Intelligent Document Processing (IDP), announced May 23 that it has launched the latest version of OpenBots Documents with GPT, its Intelligent Document Processing solution with Microsoft Azure’s GPT.
According to OpenBots, the IDP provider has noticed that other vendors in the market use proprietary machine learning models that require significant implementation and training efforts. That’s why OpenBots sees its latest release 2.1, OpenBots Documents with GPT, as a game changer in the market.
Ashish Nangla, Co-Founder, CEO and CTO at OpenBots, explained the update: “OpenBots Documents with GPT replaces traditional and proprietary ML models and training interfaces by utilizing Large Language Models like GPT and LLaMA as next-generation AI Technology to extract and classify information. OpenBots Automation and Documents allow digital workers to extract data from structured and unstructured documents and use them in line of business applications.”
Gilberto Marcano, OpenBots’ CMO, said: “A process that used to take months training IDP models is now reduced to minutes, and the accuracy increased to over 95%. This is amazing! We are extremely proud of our leadership and development team for being proactive by providing the necessary implementation plan for this new AI technology that is already disrupting the industry.”
OpenBots, with headquarters in Edison, New Jersey, offers a business automation platform including Intelligent Document Processing (IDP), Robotic Process Automation (RPA) and business tools to process documents, automate workflows and operate automation structures.
You can find the full press release here.
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