Intelligent Document Processing (IDP) refers to the use of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to automate the extraction, understanding, and processing of information from various types of documents. IDP aims to streamline and enhance document-centric workflows by leveraging cognitive capabilities to interpret unstructured data found in documents such as invoices, contracts, and forms.
Through the application of natural language processing (NLP), advanced computer vision and other intelligent algorithms, IDP systems can recognize patterns, extract relevant data, and even comprehend the context of information within documents. This enables organizations to automate tedious and error-prone manual document processing tasks, improving efficiency, accuracy and overall productivity.
The more advanced Intelligent Document Processing (IDP) solutions, utilise a combination of AI technologies, including Computer Vision and Natural Language Processing (NLP).
In document capture, computer vision digitizes physical documents and employs Optical Character Recognition (OCR) to extract text from images or scans. Computer vision algorithms also recognize patterns and structures within documents, aiding in context understanding and data extraction from unstructured formats.
Natural Language Processing (NLP), on the other hand, breaks down texts for identifying key information and relationships. It enables IDP systems to comprehend natural language, ensuring context-aware interpretation. Additionally, NLP techniques facilitate document summarization, extracting key insights. When combined with rule-based processing, NLP enhances IDP systems’ adaptability to various document types and formats.
What makes Altilia different from other players in the IDP space?
Altilia Intelligent Automation (AIA) is an IDP platform that utilizes cutting-edge technologies to take IDP to the next level, including:
- Large Language Models (LLMs) with RAG (Retreival Augmmented Generation) to enhance its natural language processing capabilities
- Models fine-tuning adapt language model to suit specific use case tailored and customer tailored applications
- Knowledge graphs to represent data and information alongside with the interrelations between them, making the models better understand the documents and simplifying the access to informations
- Advanced Computer Vision technology, including OCR, HTR (Handwritten Text Recognition) and patented DAR (Document Analysis and Recognition), to better interpret the layout and the spatial information of the documents
What can your organization achieve with IDP?
- Reduce the manual workload and associated costs
- Speed up operational and decision-making processes (shorter lead time / time to answer)
- Increase the capability of processes that require documents analysis and data retrieval (more operations managed in a given time-frame)
- Higher accuracy of extracted data by eliminating human errors in the process
- Improved accessibility to information contained in large documents datasets / knowledge bases utilized by the organization
Real world application examples of Altilia Intelligent Automation
Although with a focus in banking and finance industry, AIA is a general-purpose platform that can process any kind of documents for any industry. Here are some examples:
Banking and insurance sectors
- Increase the ability and speed of reading and analyzing financial statements for profiling the bank’s corporate customers and selling derivative products
- Analyze Non-Performing Loans (NPL) file documents to support the evaluation of NPL portfolios and to estimate the likelihood of credit recovery
- Increase capacity and speed data extraction from documents related to claims and/or court documents for insurance companies.
- Increase the ability to search for information found within pension regulations and documents related to products offered to clients; the ultimate goal is to provide an AI assistant (similar to ChatGPT) that can respond to personal pension advisors
Manufacturing and utilities sectors
- Automatic reading of documents sent by suppliers to simplify supplier evaluation and selection for the procurement office
- Reading and analyzing CVs with automatic matching of sought skills to expedite the HR department’s recruitment activities
- Automatic reading and classification of action reports (activations, modifications and plant decommissioning) to simplify asset management operations for companies in the utilities sector
- Automatic reading of bills, invoices and photos of meter self-readings to simplify the administrative management of energy and gas distribution companies
- Training of conversational AI assistant (similar to ChatGPT) to provide real-time support regarding technical intervention procedures to support asset management operations for companies in the utilities sector
Thanks to its capabilities in 2022 Altilia has been recognized by Gartner a Representative Vendor in Market Guide on Iintelligent Document Processing. In 2023, IDC MarketScape hase recognized Altilia as a “Major Player” in its Worldwide IDP Vendor Assessment.
Why not schedule a demo with Altilia to learn more about how we can help transform your organization? Click here to register.