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Moving the AI needle in Intelligent Document Processing: This is what we’re up to in the next months

The world of Artificial Intelligence (AI) and machine learning is ever evolving, and at Parashift, being a leading player in the AI document processing space, we’re constantly pushing the boundaries to offer more advanced and innovative solutions. 

With Parashift Platform we’ve helped hundreds of clients to add Intelligent Document Processing into their existing processes and business applications. 

Today, we are thrilled to announce the upcoming launch of a series of new feature sets that will accelerate and improve automation and document understanding in this context. Here’s what’s coming up in the next couple of months:

Launch of EU-GDPR Compliant Large Language Models

Data privacy and compliance have become key components for organizations, and we think this trend will only continue to accelerate. Parashift has addressed these concerns by investing in all sorts of features and technology to make use of its large and quickly growing data-network in the document space all so while maintaining high InfoSec and Compliance standards. Insurers and banks can only leverage our IDP cloud platform for their Client Identifying Data (CID) because we’re all in on compliance and infosec.

This is why Parashift will launch Large Language Models (LLM) that are fully GDPR compliant. These models leverage Parashift’s Document Swarm Learning to offer a unique blend of radical innovation, privacy, and security. The application of LLMs will benefit Parashift clients in two ways: 

  • Through generative AI, a vast number of new use-cases can be solved on the IDP level (summarization, interpretation of context etc.)
  • Conversational configuration: A chat-like way to add and modify document type configurations, will (again) significantly lowering set up time 

Integration of 3rd Party AI APIs

On the other hand, there are also a lot of use cases where compliance is playing a minor role. As we are a gateway to Intelligent Document Processing for existing business applications, we’re now starting to open this gateway to 3rd party AI vendors and APIs such as OpenAI. These integrations enable Parashift clients to harness the power of multiple AI-driven services in their document processing infrastructure – unlocking new opportunities for efficiency, accuracy, and innovation – without the need to deal with integration or administrative issues. You can just enable a 3rd party feature in configuration.

In the future, as a customer, using Parashift will mean getting streamlined and easiest access to hundreds of niche AI applications for documents. For AI vendors, coming to the Parashift Platform will mean getting in front of hundreds of potential clients with just one replicable integration. The first integration of OpenAI’s GPT is now available to first clients. 

New Automation Capabilities

“If X then Y” Logic Engine

Conditional logic is the backbone of any automation system. Parashift’ s new “if x then y” feature allows users to set up custom automation rules, making it easier than ever to manage document workflows. For instance, if a document’s combination of read values exceeds a certain threshold, it can be automatically routed to a specific user, API or user group for further review. 

Scripting and Calculations

To increase the customizability and flexibility of the platform, Parashift will add powerful scripting and calculation capabilities. This will come in addition and as an extension to the proven, easy-to-use, no-code user interface. This way, we will open up to document automation professionals, making it easier for our partners to implement Parashift for their clients.

3rd party application support

Last year we launched the “Feedback API”, which enables external applications to seamlessly train the Parashift Platform through external Human in the Loop (HITL) processes. While this is great, we often see ISVs being confronted with high integration effort/complexity. This is why we’ll launch a developer component that enables viewer/validation/annotation functionality in 3rd party applications through an easy iFrame embedding. Doing so, enabling HITL for IDP in business applications will become easier than ever.

Marketplace

We’re about to launch the Parashift Marketplace. The Marketplace offers unprecedented transparency into Parashift’ s vast range of standards, integrations, consulting and implementation partners, use-cases and industries – making it the ultimate one-stop shop for all your Intelligent Document Processing requirements.

Many of our customers also choose Parashift because they can be confident that we will keep them at the forefront of innovation in AI document processing.

Continuously innovating. Shipping in the next 6-12 months

I think it’s very important for a technology provider to be literally unstoppable when it comes to rapid innovation. Many of our customers also choose Parashift because they can be confident that we will keep them at the forefront of innovation in AI document processing. This includes constant evolution with our customers as well as a radical alignment of priorities when it comes to delivering new features. 

The Parashift team has been incredibly efficient in developing new AI technologies with a small team, and we deliver in an agile and continuous manner. Consequently, the features mentioned will be incrementally integrated into the Parashift platform over the next 6-12 months, and we will gradually introduce them in detailed presentations and demos. 

Join us in our mission

So, stay tuned, we’re hell-bent on making Intelligent Document Processing as versatile, simple and accessible as possible for all software vendors and medium to large enterprises. Whether you’re a systems integrator, a consultant, an AI vendor, a document software vendor, a competitor, or just someone with an enthusiasm for new technologies, reach out to us. We really value the exchange of information and ideas.

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