Intelligent Document Processing News: Weekly Recap

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:


Instabase introduces its multistep reasoning model to simplify Conversational AI IDP vendor Instabase has announced the launch of its multistep reasoning model with enhanced conversational AI capabilities. The new multistep model dissects user queries into multiple steps, evaluating its findings at each stage to enhance accuracy and context relevance. The model intelligently searches through documents, breaking down queries into logical steps and considering context to extract pertinent information. It excels in performing accurate mathematical calculations by extracting data from documents, showcasing a notable improvement over previous AI models. Additionally, the model transforms data into insights, identifying trends and creating visual representations for easier comprehension. Bastiaan de Goei, Director of Growth Marketing at Instabase, explained the benefits: “This is close to my dreams when I was working in private equity as an associate and had to analyze countless annual reports, show my models and calcs with my manager.”

Nuvento becomes a Microsoft Data & AI Azure Solution Partner Nuvento, a digital technology services and consulting firm with Docketry, its IDP solution, has announced that it is now an Azure Data & AI Solutions Partner. This accolade recognizes partners who demonstrate comprehensive capabilities in managing and analyzing data across multiple systems and who develop analytics and AI solutions for customer success. Nuvento recently announced the availability of its IDP solution Docketry on the Microsoft Azure Marketplace, enabling Microsoft Azure customers worldwide to gain access to Docketry to leverage the scalability, reliability, and agility of Azure to drive application development and shape business strategies.

Automation Hero is honored by Intellyx and World Future Awards IDP vendor Automation Hero has announced that it has been recognized by analyst firm Intellyx and marketing services provider World Future Awards. Automation Hero was awarded the Intellyx Winter 2023 Digital Innovation Award (after already having received the award last year for its IDP and patent-pending context-aware OCR technologies) and recognized as one of the “Top 100 Next Generation Companies” by World Future Awards.

ACORD Solutions Group implements its IDP solution at Synpulse IDP provider ACORD Solutions Group has announced that Synpulse, a global professional services provider to banks and insurance companies, will leverage its IDP solution, ACORD Transcriber, to enable automated and efficient extraction of submission and policy data. This integration increases the efficiency of data exchange between reinsurers, brokers and clients while minimizing the need for manual re-keying of information. At the same time, Synpulse also relies on Acord Solutions Group ADEPT to optimize the exchange of digital placement data in its Reinsurance Underwriting Workbench.

DOConvert unveils its new branding, announces upcoming launch of V2.0 IDP vendor DOConvert has unveiled its new branding and announced the upcoming launch of V2.0 of its platform. Avi Rafalson, Co-Founder and CEO at DOConvert, commented: “I’m thrilled to share that we’ve recently launched our brand-new website, showcasing a fresh and innovative branding approach. Additionally, we’re on the cusp of releasing Version 2.0. This version promises to bring exciting new features and enhancements.”

Google launches Gemini showing impressive document understanding capabilities Tech giant Google has announced the launch of its large language model (LLM) Gemini. In the context of Intelligent Document Processing, Gemini already demonstrates some impressive document understanding capabilities with no pre-training. Read what Dan Lucarini from Deep Analysis thinks about Gemini and how it could benefit the IDP market.


What are key aspects of cloud governance? Read this article from IDP vendor Konfuzio to get a comprehensive overview of cloud governance, including its principles, challenges and benefits, as well as how automation plays an important role in supporting cloud governance.


Cognaize launches its new podcast “Hybrid Minds” IDP vendor Cognaize has announced the launch of its new podcast called “Hybrid Minds: Unlocking The Power of AI + IQ”, in which Vahe Andonians, Founder, CTO and CPO of Cognaize dives into discussions with industry leaders and innovators. Vahe Andonians further explained: “While I have dedicated 15 years to developing AI-focused solutions, the last 12 months have produced unprecedented innovation and interest in the market, particularly in financial services, resulting in equal parts excitement, confusion, and fear. Cognaize created this podcast to address these issues head-on with some of the brightest minds in the industry, and the discussions will bring much-needed clarity and insights to anyone who has a professional or personal interest in tracking one of the most important developments in human history.” Watch the first episodes of Hybrid Minds here.

Upcoming broadcast:

UiPath Live: AI at Work Register for IDP provider UiPath’s upcoming broadcast event on December 13, 2023 to experience the impact of AI realized through the power of automation and to see AI at work.

See you next week!

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