Indico Data, the unstructured data company, unveiled Indico 5 to allow companies to better make use of automation and intelligent document processing (IDP) on unstructured data.
Despite 90% of enterprise data being unstructured according to a December 2021 IDC report, only 2% of it is being utilized based on additional Google research.
The platform uses a proprietary training data corpus, composite AI technology, and machine teaching application interface to scale automation and enable companies to take advantage of this unstructured data.
The new version includes linked relationship labeling and a new visual interface that enables organizations to easily automate and apply unstructured data.
“Indico 5 is another major advance in our strategy of putting game-changing AI solutions for unstructured data in the hands of business users,” said Tom Wilde, the CEO of Indico Data. “The real promise of automation in Indico 5 is using AI to augment human expertise, not replace it. The rapid evolution of workforce environments, where remote and hybrid working have shifted employee experience expectations, is also forcing businesses to rethink investments that improve accessibility and use of enterprise data, to increase productivity. We’re delivering that exceptional value to our customers.”
The AI in the platform can now be trained to split out documents which is beneficial for processing mortgage or other financial paperwork that involves document bundles.
Linked labels eliminate post-processing work and help reassemble relationships from extracted data and it can automatically capture the relationships between document elements.
The new version also includes staggered loop training to drive continuous improvements, universal document support, and the Workflow Canvas document orchestration tool to help users build and review the steps of each automation process.
Additional details on Indico 5 are available here.