Information extraction (IE) finds its roots in the early development of natural language processing (NLP) and artificial intelligence (AI), when the focus was still on rule-based systems that relied on hand-crafted linguistic instructions to extract specific information from text. Over time, organizations shifted to techniques like deep learning and recurrent neural networks (RNN) to improve the accuracy of information extraction systems.

Business leaders find themselves involved in a range of high-priority tasks, most of which require making critical decisions. Let’s say you’re the sales head of a global organization. You’re ready to make an important decision about next quarter’s sales strategy, but you must first look at the right data set. You know it exists somewhere in your organization’s databases, yet it’s not within the arm’s reach.

Organizations must constantly seek ways to improve their operations and drive efficiency. Two concepts gaining traction in this quest are process intelligence and process mining. While these terms may sound similar, they serve distinct purposes and can provide different insights into your processes. Understanding the differences between them is crucial for organizations aiming to enhance productivity and streamline workflows.

In the insurance industry, the claims process can often feel like a complex maze of manual processes for both customers and agents. However, new and advanced technologies are paving the way for smoother, more efficient claims handling. Claims processing automation at insurance companies can streamline routine tasks, reduce risk of errors, and enhance customer satisfaction. In this blog, we’ll explore three key areas to focus on for effective automation.

The financial document processing domain has undergone a 360-degree shift in the past decade. It was at the brink of the 1980s when software providers began releasing document management systems aimed at helping companies save time, money, and effort in regard to financial document processing. What started as simple document management systems using Optical Character Recognition to digitize printed financial documents has evolved into advanced, AI-powered solutions.

What if your document processing system could do more than categorize documents and extract data, no matter the format? That’s exactly what you can do with intelligent document processing (IDP) software. IDP tools adapt to varying structures and formats and understand content to summarize lengthy documents, identify anomalies, and flag errors. The best part? IDP software continuously improves in accuracy the more you use it.

The GenAI revolution is well and truly here. To take inspiration from our favorite comfort show, Gilmore Girls, “It’s GenAI’s world, and we’re just living in it.” In fact, McKinsey reports the number of organizations regularly using GenAI has doubled in ten months between their 2023 and 2024 surveys.

Your docs are a lot like your family—not in the corporate jargony “we are a family” way, but more in the “can’t live with them, can’t live without them” way. Yes, these docs are crucial in more ways than one, but teams that regularly work with them know that the time they spend searching for, cleansing, and prepping their docs can be better utilized elsewhere.

When AI first started to gain widespread adoption, it sparked a wave of fear. While much of that fear was overblown, we still need to remain cautious about any new technological innovation. Given AI’s potential to drive change on a massive scale, applying ethical principles to AI is not just important, but urgent. Every company must prioritize responsible AI—not only as an ethical responsibility but as a practical, strategic choice.

ERP systems are critical in government agency operations for integrating internal and external management information. They are intended to optimize processes, improve collaboration, and connect with customers, vendors, and partners. Government ERP systems typically include modules related to financial management, human resources, sales, procurement, inventory, and operations like contract and project management.