Intelligent Document Processing: A guide to using AI for document review, information extraction and data analysis

As the world becomes increasingly digital and reliant on technology, there has never been more data at our disposal or challenges around analyzing it. Data is a precious commodity, and companies worldwide in every industry are grappling with how to unlock the power of their data in ways that enable their human workforce to reach new heights of success. Artificial intelligence (AI) plays a crucial role in meeting this challenge providing businesses with a tool to help them locate and analyze the right information and use the resulting insights to improve decision-making.

Reviewing, processing and understanding the information within your documents is an incredibly challenging endeavor that AI can solve. Many organizations need a better way to extract value from their documents. Experts estimate that approximately 80% of a company’s data is unstructured: written text locked inside unstandardized files. By extracting, analyzing, organizing and interpreting data buried in digital and paper documents, Intelligent Document Processing (IDP) can transform how we review, process, and ultimately gain valuable insights from documents. This technology is being adopted by organizations across sectors who need to understand and analyze diverse types of documents at scale. And the events of 2020 have accelerated the adoption rate as businesses have had to assess emerging risks, identify new opportunities and find alternate ways of working.