Global intelligent automation leader ABBYY is revolutionizing document-specific workflows with its newest purpose-built AI capabilities. Launched at the ABBYY Ascend 2024 event, the new suite of AI tools is aimed at fast-growing organizations, aspiring to simplify digital transformation journeys with powerful intelligent business management platforms.
Here’s a sneak peek into ABBYY’s latest AI capabilities.
ABBYY Phoenix: A New Era of Zero-Shot Learning
As per Intent Market Research, the Artificial Intelligence (AI) Market was valued at USD 142.5 billion in 2023 and will surpass USD 1,237.6 billion by 2030; growing at a CAGR of 36.2% during 2024 – 2030. At the heart of ABBYY’s latest innovations is Phoenix, a groundbreaking multi-modal approach to zero-shot learning. The heart of the AI engine works on small language models specifically tailored for document tasks. ABBYY Phoenix enables organizations to automate complex document workflows without the need for extensive training data.
ABBYY Commits to A Secure Future with Secure LLM
At Ascend 2024, ABBYY’s Secure Large Language Model (LLM) Gateway scripted a new revolution in AI infrastructure management. Secure LLM Gateway ensures the confidentiality and security of sensitive document data. It provides a secure environment for processing sensitive information, enabling organizations to harness the full potential of new-age AI models and confidently leverage these models without compromising security.
Our CyberTech Insights analysts cite ABBYY’s latest secure LLM gateway ensures data privacy, security, and compliance by:
- Data Protection: Safeguarding sensitive information by filtering and anonymizing data before it enters the LLM.
- Access Control: Implementing robust authentication and authorization mechanisms to restrict access to authorized users.
- Monitoring and Logging: Tracking LLM usage, identifying potential misuse, and auditing interactions.
- Model Selection: Optimizing LLM selection based on specific use cases and performance requirements.
- Cost Optimization: Efficiently managing LLM resource utilization to minimize costs.
In addition to enhanced security, Secure LLM Gateway also improves efficiency and mitigates risky scenarios through real-time integrations. Overall, ABBYY is focusing on three things with this AI launch:
- high-end security compliance and governance
- personalization and LLM customization
- operational effectiveness and cost optimization
Empowering Innovation with Purpose-Built AI Center
The new ABBYY Purpose-Built AI Center serves as a one-stop shop for innovation leads and developers, offering a comprehensive suite of tools to accelerate application development. With easy access to cutting-edge AI technologies, organizations can rapidly build and deploy intelligent document solutions.
Recently, the latest ABBYY State of Intelligent Automation: AI Trust Barometer report revealed the fear felt by IT leaders. The survey found IT leaders implementing AI fear the misuse by their internal staff (35%), in addition to escalating costs (33%), AI hallucinations and lack of expertise (both 32%), and even compliance risk (29%). The new AI capabilities take care of all these.
The Future of Intelligent Document Processing (IDP)
ABBYY’s latest innovations represent a significant step forward in the document intelligence technology marketplace. By providing powerful tools and technologies, ABBYY is helping organizations streamline processes, reduce costs, and gain valuable insights from their documents. As businesses continue to embrace digital transformation, ABBYY’s purpose-built AI solutions will be essential for staying ahead of the curve.
At the time of this announcement, “With the launch of our Purpose-Built AI Center, we are making it easier for our customer to find the right solution for their business needs and simplify their success in automation,” said Maxime Vermeir, Senior Director of AI Strategy at ABBYY.
Maxime added, “ABBYY’s innovations truly provide a response to the main concerns businesses have in the market today when leveraging AI and doing so at scale within an enterprise context.”
More Announcements for the AI and Cloud Industry
ABBYY also highlighted a collection of capabilities designed to improve efficient operations for large enterprises. These include:
- Automated E-invoice Processing: Streamlined and compliant processing of diverse invoice formats.
- Advanced Big Data Analytics: Process and analyze billions of data points across complex events, to gain valuable insights in real-time.
- Advanced Analytics for Data Quality: Analyze straight-through processing (STP) rates to identify trends and optimize data extraction with high-performance indicators and minimal data leaks.
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ABBYY announced significant advancements in OCR technology, empowering developers to create more sophisticated and accurate document processing applications. Key features include:
- Next-gen OCR capabilities with improved memory efficiency for faster and more accurate document conversion and structure recognition.
- New NLP-based Multilingual Handwriting Recognition that supports multiple scripts, enabling accurate recognition of handwritten text, with additional data extraction and archiving capabilities.
- Enhanced API support, in addition to updated features for popular programming languages like .NET, Python, and others.
What is ABBYY Ascend 2024?
ABBYY Ascnd is the company’s flagship launch event series, designed to showcase how the latest innovations in AI and automation can directly benefit businesses. Each edition of Ascend introduces new product capabilities and practical strategies aimed at optimizing processes and driving greater success. Expert-led sessions and hands-on demonstrations provide an exclusive first look at how ABBYY’s advanced solutions can enhance operations and keep organizations ahead of the competition.
ABBYY Ascend represents an opportunity for businesses to unlock new potential and ensure their continued success—both now and in the future.
Conclusion
ABBYY is poised to transform document-specific workflows with its innovative AI capabilities, unveiled at the ABBYY Ascend 2024 event. With the introduction of ABBYY Phoenix and the Secure LLM Gateway, organizations can now streamline their digital transformation efforts while maintaining the utmost security and compliance. The multi-modal approach of zero-shot learning and robust data protection mechanisms ensure that businesses can automate complex processes without sacrificing the integrity of sensitive information. As ABBYY continues to lead in intelligent automation, companies can confidently embrace these advanced tools to enhance efficiency, protect data, and drive growth in an increasingly digital landscape. The future of intelligent document management is here, and ABBYY is at the forefront of this revolution.
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