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:
Alkymi announces new board member IDP vendor Alkymi announced that Andrea Remyn Stone has joined the company’s Board of Directors as its newest member. Andrea Remyn Stone most recently served as CEO of the Data and Analytics Division of the London Stock Exchange Group (LSEG). She also previously held leadership positions at large global financial institutions such as Standard & Poor’s, DealLogic, ION, Bloomberg LP and Refinitiv, with a proven track record in data management, FinTech and strategic planning. Harald Collet, CEO of Alkymi, said: “I’ve known Andrea for many years, and am thrilled to have her join Alkymi as our first independent director.” Andrea Remyn Stone commented on her new role: “I am excited to help bring powerful AI capabilities into the hands of business users. Alkymi is well-positioned to change how companies access and use their unstructured data not only in financial services but other industries as well.”
Instabase is now available in Microsoft Azure Marketplace IDP vendor Instabase announced that its platform is now available in the Microsoft Azure Marketplace. With that, Instabase customers benefit from simplified billing and procurement when using Azure and take advantage of the Azure cloud platform, with streamlined deployment and management. Joe Ramieri, VP of Growth at Instabase, said: “Our shared customers now have a simplified procurement process, in addition to a faster time to value of Instabase’s industry-leading artificial intelligence capabilities and automation platform.”
Smart Touch Technologies strengthens its market presence IDP vendor Smart Touch Technologies announced that it is able to expand its market presence thanks to the processing of automotive documents for two companies of DKV Mobility Group. Smart Touch Technologies’ IDP platform automates the processing of data from vehicle documents such as CIV, ticket and contracts, to meet the needs of Smart Diesel and Tax Refund Romania to respond quickly to customer requests and eliminate the risk of human error in data processing. Georgiana Corciova, VAT & road tolls team leader at Smart Diesel, said: “Together with the Smart Touch Technologies team, we have created an intelligent, AI-driven data ecosystem that has practically translated into improved performance for our companies.”
Gradient AI’s solution gets selected by The Builders Group Enterprise software provider for AI solutions in the insurance industry, Gradient AI, announced that The Builders Group (TBG), a provider of workers’ compensation insurance, has selected its AI solution to boost TBG’s claims and underwriting operations. TBG’s goal is to provide affordable, quality workers’ compensation insurance that prioritizes medical care while providing fast and accurate claims settlement. Stu Thompson, CEO of TBG, said: “We selected Gradient AI because of its vast industry dataset containing tens of millions of claims and policies, excellent customer service and extensive experience in AI and insurance.”
What is the deal between a highly admired painting and AI? Read this article by Mike Hobday, CEO of IDP vendor AntWorks, as he makes an interesting comparison between art and AI, explaining that context is just as important for understanding a painting as it is for AI to understand unstructured documents. In this regard, Mike Hobday argues that it’s not much different than what an art historian does with paintings (in this case, ‘The Ambassadors’ by Hans Holbein the Younger), i.e., deciphering images to get to the core of the meaning and presenting it in a coherent form for a reader, and what a knowledgeable business user does with unstructured data to train AI to then understand the context and extract the relevant data.
What are some of the 2023 IDP trends in source-to-pay? Watch this 30-minute podcast from IDP provider Graip.ai featuring Pedro Berrocoso, independent Senior Advisor in digital procurement and intelligent automation. Pedro Berrocoso explains why he believes hyperautomation is one of the big trends in source-to-pay in 2023 and what has changed in this regard in the last couple of years.
See you next week!
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