President and CEO at Kodak Alaris, a leading provider of information capture and intelligent document processing solutions.
In the field of artificial intelligence (AI), the term “hyperscalers” has gained prominence. The word encapsulates the immense capabilities of the world’s largest technology companies (especially Microsoft, Google and Amazon) in shaping AI and its role in business productivity. With their vast resources and expertise, these hyperscalers are the architects of the AI revolution, redefining how businesses will operate and thrive. They also create enormous opportunities that many business leaders are just beginning to explore.
A wave of growing demand
These titans of the cloud computing world provide intelligent automation services that are reshaping the way businesses approach productivity and efficiency. We are in the early days of this growing wave. The AI services market reached $200 billion in 2023 and is expected to reach around $2 trillion by 2028.. According to a Deloitte study, 79% of those surveyed believe that generative AI will drive significant transformation within their business over the next three years.
Microsoft has positioned itself as a leader in this wave of transformation, notably with the introduction of Copilot, which is integrated into its core office applications to provide users with on-demand AI assistance. Copilot leverages OpenAI technology, of which Microsoft currently owns 49%. This strategy of integrating AI into everyday applications has made Copilot the most accessible path to AI for businesses and consumers.
Google’s strategy also highlights the move toward integrating AI at the enterprise level. Originally, they focused on integrating AI into their existing product ecosystems to improve the functionality of familiar tools like Search, Maps, and YouTube. Now, they integrate enterprise services through Google Cloud and Vertex AI, which provide APIs for foundational AI models, allowing businesses to build custom AI tools and deploy them in their applications.
With AWS and related services, Amazon has adopted a different strategy focused on creating a robust developer ecosystem. By providing developers with tools to build, train, and deploy their own AI models, Amazon is creating fertile ground for AI innovation at the local level. With tools like CodeWhisperer available for free to developers, Amazon demonstrates its commitment to improving developer productivity and accelerating AI applications across many industries.
We are only at the beginning of this major new trend. AI hyperscalers are reshaping the technology landscape and providing businesses with unprecedented opportunities to improve productivity and facilitate innovation. One of the most promising applications enhanced by these AI hyperscalers, and one that is still under the radar, is intelligent document processing (IDP).
IDP: a major facet of AI opportunities
Data has become the new currency of business, and IDP allows businesses to get the most out of that currency. IDP software offers new ways to leverage the most advanced AI technology to process large amounts of information efficiently and accurately. It revolutionizes the way businesses integrate data into their systems, providing a solid foundation for various applications such as predictive analytics, auditing, fraud detection and much more.
Successful IDP solutions can connect to AI services offered by hyperscalers, integrating machine learning (ML) and natural language processing (NLP) services to automate the extraction and processing of data from a wide range of document types and formats, including invoices and contracts. , IDs, financial statements, handwriting, emails and virtually everything common in business today. The ability to make sense of unstructured data and convert it into critical business information with a high degree of confidence is what makes IDP so valuable today.
Industries where large volumes of data are processed daily, such as finance, healthcare, and government, are increasingly turning to IDP solutions to streamline information workflows, reduce manual errors, and improve productivity at all levels.
Integrate AI into IDP
Strategic integration of AI into document processing can provide additional business benefits. The ability to connect an IDP platform with the advanced services of an AI hyperscaler allows the solution to learn and adapt, constantly improving the accuracy and efficiency of operations while future-proofing a key part of the enterprise technology stack. an organization.
Machine learning algorithms and pre-built document models allow these systems to learn from data patterns, automatically improving accuracy over time and making perfection a reasonable long-term goal. They can glean unique insights, identify trends, and predict outcomes based on processed data, which is particularly valuable in industries like finance, healthcare, and law, where interpretation of document data can inform decisions reviews.
Additionally, natural language processing enables the extraction and analysis of data from unstructured sources, making it possible to process various types and complexities of documents with minimal human involvement which further diminishes over time at as the system learns and improves.
Potential Caveats for AI-Enhanced Systems
AI is driving digital transformation at a rapid pace, but the benefits are not without risks. IDP systems rely on high-quality data, and some of this data may contain sensitive and confidential information that must be protected. As AI advances around generative AI models, IDP capabilities go far beyond extracting data from documents and delivering it to business systems. With generative AI models, large amounts of data can be analyzed. However, without proper monitoring of data and training models, undesirable results can occur due to lack of monitoring or misuse of information.
To mitigate these risks, organizations must take a strategic approach that leverages IDP experts to help test and validate AI training models and integrate Human-in-the-loop (HITL) procedures to verify improve data quality and protect confidential information.
Redefining business productivity
AI hyperscalers are actively redefining business productivity and leading us into a new era where AI is not just an add-on but a fundamental part of business operations, helping us achieve higher levels of efficiency, of innovation and growth.
In this new business environment, where data comes from multiple sources and in diverse forms, the ability to understand, interpret and efficiently process data from various inputs becomes an indispensable tool. I believe that companies that explore the many opportunities to leverage these technologies while strategically managing potential risks will be better positioned to succeed in the AI era.
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