In a world where data is the new gold, the ability to use information efficiently is critical to business success. However, much of this data is hidden in documents that exist in unstructured or semi-structured form. This is where
Document Understanding comes into play, a technology that enables the automated reading, interpretation and subsequent processing of document-based data.
Document Understanding is a field of artificial intelligence that focuses on interpreting text and documents as a human would. It understanding the context, meaning, and intent behind words and using that information in a way that is valuable to business processes.
The importance of Document Understanding cannot be overstated, especially in areas such as compliance, risk management, and customer service. Through automatically understanding documents, organizations can:
Contract analysis: Automatic identification of key clauses in contracts.
Customer support: Fast and accurate response to customer inquiries by understanding the concerns in emails or chat messages.
Compliance monitoring: Review documents for compliance with legal requirements.