ABBYY has introduced ABB Document AI™, delivered through a self-service APi,to assist dEVElopers grappling with the challenge of extracting dependabledata from business documents. The ABBYY Document AI API is crafted fordevelopers’ convenience. With merely a few lines of code, users can transformunstructured business documents into structured, highly accurate data. Thisstreamlines the procedures of trying, integrating, learning, and purchasingtop-notch Optical Character Recognition (OCR) and Intelligent DocumentProcessing (IDP) solutions.
Nick Hyatt, ABBYY’s Engineering and R&D; Vice President, remarked, “As an OCRpioneer, ABBYY has always had an active developer commUnity utilizing ouradvanced Document AI to create revolutionary solutions. We are offering them anew API with minimal setup needs, abundant community resources, and pre-trained models to assist in building proofs of concept. The ABBYY Document AIAPI is a significant step forward in developing automated document workflows.”
IDC projects that the intelligent document processing market will expand from$2.4 billion in 2023 to $10.5 billion in 2028, with a Compound Annual GrowthRate (CAGR) of 34.9%. This growth is fueled by the increasing adoption ofcloud computing, the maturation of artificial intelligence, and the broadeningapplication Scenarios of document AI.
Amy Machado, IDC’s Senior ReseARCh Manager for Enterprise Content andKnowledge Management Strategies, stated, “OCR is experiencing a realresurgence in the AI era. Developers often encounter difficulties inextracting reliable data from documents. They frequently use general-purposelarge language models (LLMs) but soon face issues like hallucinations, datainconsistencies, and document processing errors. Moreover, they often lacksupport for multilingual capabilities, handwriting recognition, and complexdocument structures. Thus, there is a strong demand for specialized documentprocessing solutions that prioritize ease of integration, flexibility,scalability, accuracy, and consistency.”
Currently in technical preview, the ABBYY Document AI API enables developersto use pre-trained models to extract data from documents. This facilitates theautomation of complex business processes such as Know Your CusTomer (KYC),account opening, customs clearance, invoice processing, expense management,and order processing. The API offers precise OCR capabilities, maintaining thedocument’s logical structure. It provides AI-ready data for unlockinggenerative AI (genAI) and retrieval Augmented generation (RAG) capabilitiesand forms a solid base for training robust language models.
