Saxon AI

  Do you know that the global Intelligent Document Processing (IDP) market is snowballing at a robust CAGR of 37.5%? According to a recent study by  MarketsandMarkets , IDP is projected to account for $5.2 billion by 2027 from $1.1 billion in 2022. The prime reason for this surge in IDP growth can be attributed to the critical need for enterprises to deal with substantial volumes of semi-structured and unstructured documents efficiently. Not just storing and accessing them securely but also facilitating the documents for advanced analytics.   The data insights that lie in all these semi and unstructured documents can fetch a lot of value in the form of analytics and insights. No wonder IDP lies at the core of the operational workflow today for the organizations who have adopted it. Businesses utilizing  Intelligent Document Processing (IDP)  solutions for document processing exemplify how this technology domain is crucial in enabling accelerated operations and innova...

  What can you do with generative AI? You can solve math problems, create images, write stories, and whatnot. All with a short description in your own natural language. For individuals who want to learn and create, there are endless ways to use this artificial intelligence technology. What about enterprises? Previously, we have discussed how businesses can use  Generative AI in Cognitive Search . Today, let’s discuss how technology empowers intelligent document processing (IDP). Generative AI + IDP Unstructured data is a big challenge for businesses across industries. For example, the insurance industry handles a significant amount of unstructured data, comprising about  80% of the total . Insurance firms currently utilize less than 3% of this data for decision-making, which is alarming considering the industry’s size. Generative AI-powered Intelligent document processing offers a solution by efficiently processing unstructured data, resulting in improved customer satisfa...