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:
Technology & Cognition LAB introduces AIDA 12 IDP vendor Technology & Cognition LAB has announced the release of AIDA 12, the latest version of its IDP solution. New features of AIDA 12 include an overview section, a homepage filled with widgets designed to simplify the reading of unstructured data that emails and documents typically contain. The overview page can be configured with the preferred widgets to monitor key metrics and display aggregated data. In addition, AIDA 12 provides easy access to all information in a single, fully customizable panel, displays projections, and allows building a Business Intelligence solution with a no-code approach.
Kanverse.ai launches Nephrite release as well as its Guidewire Marketplace app IDP vendor Kanverse.ai has announced that it has launched the Nephrite release of its IDP platform. Nephrite brings overall improvements to the platform and strengthens the existing product suites with new features for accounting (optimized AP invoice automation and optimized AP vendor management), insurance, BFS and user support. In addition, Kanverse.ai has announced that it has partnered with Guidewire Software to automate submission and claims intake. To this end, Kanverse.ai’s “Ready for Guidewire” validated accelerator is now available to PolicyCenter users in the Guidewire Marketplace. This enables insurers to automatically file the extracted data directly in PolicyCenter, reduce cycle times and operational costs, focusing resources on strategic activities and writing more policies. Dr. Akhil Sahai, Chief Product Officer at Kanverse.ai, commented: “The inconvenient, highly manual submission intake process is tedious, time consuming, error-prone, and causes unprecedented delays and bottlenecks for insurers. Our powerful technology completely transforms this process, reducing operations costs while eliminating redundant, labor-intensive data entry and allowing insurers to focus their resources on strategic activities.”
ABBYY appoints new CPO and CTO to accelerate time-to-market for its IDP and process intelligence solutions Intelligent automation solutions provider ABBYY has announced the appointment of Patrick Jean as its new Chief Product and Chief Technology Officer (CPO & CTO). Patrick Jean brings a wealth of experience from previous engineering and technology leadership roles at OutSystems, Citrix, and Apttus. In his new role, he will lead global product and technology teams with a primary focus on accelerating time-to-market for ABBYY’s intelligent document processing and process intelligence solutions.
More IDP vendors with new features: Konfuzio and Graip.AI IDP vendor Konfuzio has announced new intuitive and customizable AI solutions. These include easier selection of the preferred document viewer, intuitive changing of labels for existing annotations with just a few clicks, and support for BERT-based models for its categorization AIs. IDP vendor Graip.AI has also announced new features. These include the annotation tool, which allows business users to easily annotate and label data in any document. The rule-based mapping feature allows users to capture different line items and assign them to corresponding accounts (e.g. accounting) based on data category (e.g. product) to ensure accurate tracking and action.
HuLoop Automation partners with BankRPA Intelligent software automation provider HuLoop Automation has announced a partnership with BankRPA, a strategic consulting company that specializes in implementing RPA for financial institutions. The goal of the partnership is to leverage BankRPA’s expertise in community banking technology and combine it with HuLoop Automation’s intelligent automation platforms to enable faster implementation for banks and credit unions. Todd P. Michaud, HuLoop Automation’s CEO, commented: “We are delighted to be working more closely with BankRPA because we know that they have deep expertise and a proven track record in community banking. We look forward to collaborating closely with BankRPA as they help us to deliver on our promise of radically simple, fast and affordable automation in the banking sector.”
HFS Research on its IDP Products Horizons Watch this 9-minute videocast in which Hridika Biswas, Senior Analyst, and David Cushman, Executive Research Leader at HFS Research, discuss the latest IDP Products Horizons 2023 report released last month.
Deep Analysis’ market trend predictions for the coming year Watch Deep Analysis’ 30-minute (pretty funny) podcast to hear the analysts thoughts and predictions on market trends for the year ahead, including why Generative AI will face its first cold winter and why machines will read and process more documents than knowledge workers for the first time in human history. You can download the corresponding report here.
See you next week!
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