The Intelligent Document Processing (IDP) industry is set for a major shake-up thanks to a revolutionary data extraction technology developed by Evolution AI.
Dubbed ‘Evolution Zero’, the machine learning model uses zero-shot learning to enable users to extract data without lengthy training and configuration. This marks a major breakthrough for IDP technology, which has historically required document training examples in order to extract data from a new document type.
The term 'zero-shot learning' comes from the world of machine learning. Essentially, zero-shot algorithms are able to train models by transferring intelligence from previously seen training examples to completely new tasks, meaning they can take on new tasks without needing any training data at all.
Many industries implement IDP solutions to efficiently extract data from large volumes of complex digital documents. Common targets include invoices, quarterly reports and balance sheets.
Evolution AI has supported clients across numerous sectors with IDP solutions since 2015. One such client is Fitch Solutions, a leading provider of credit intelligence for financial institutions.
Matt Jones, Head of Data Architecture & Technology Strategy at Fitch Solutions, said: “Evolution AI makes it incredibly simple to extract data without having to train models from scratch or get entangled in the data science that's going on in the background.”
Now, we're raising the bar for our industry with this new machine learning model.
Chief Scientist & CEO Martin Goodson said: “Evolution Zero will help businesses become more productive and cost-efficient by significantly enhancing their data extraction and reporting capabilities. This is a hugely exciting time, not just for us, but for the entire IDP industry.”
CTO Rafal Kwasny added: “We’re very proud to introduce our zero-shot model into the IDP space. This is the result of seven years of dedication and our library of 25 million business documents - no other developer in the industry has this kind of resource.”
He added: “We’ve also taken the latest advancements in natural language processing to create some really cool features. For example, users will be able to ask questions about the document in natural language, just as if they were asking a colleague.”
For more information on Evolution Zero, contact us at firstname.lastname@example.org.