Laiye has been recognized in the HFS Horizons Intelligent Document Processing Products 2023 report, leveraging LLMs to change the IDP landscape
Laiye has been recognized in the HFS Horizons: Intelligent Document Processing Products, 2023 report for the first time as an Enterprise Innovator, and mentioned by the analysts as "using large language models to change the IDP landscape".
The HFS Horizons: Intelligent Document Processing Products, 2023 report examines how IDP technology vendors help clients embrace IDP products to drive process transformation. The study evaluates the capabilities of 26 tech vendors across the HFS IDP products value chain. Vendors are classified into three quadrants according to their Innovation Scope and Value Aspiration.
With the latest developments in artificial intelligence and machine learning, Intelligent document processing is fast becoming a valuable accelerator in digital transformation initiatives. Laiye also unveiled its ChatGPT-powered Intelligent Document Processing product this year, which offers support for multiple document processing tasks such as classification, extraction, summarization, and translation. This advanced IDP tool leverages pre-trained Large Language Models to automate document-related processes, eliminating the need for manual data labelling and model training. With Laiye IDP, businesses can enhance operational efficiency and accelerate decision-making processes, ultimately unlocking new levels of productivity.
It seamlessly integrates with other automation technologies like Laiye RPA in a unified digital workforce platform, providing enterprises with comprehensive and flexible digital services to achieve end-to-end automation. In the report, HFS commented that Laiye is "using LLMs to change the IDP landscape by creating an open work-execution system to automate the manual tasks”.
"It is a great honor for us to be recognized as an 'Enterprise Innovator' in the HFS Horizons: Intelligent Document Processing Products, 2023." said Guanchun Wang, chairman and CEO of Laiye, "As an essential part of Laiye's digital workforce product matrix, Laiye IDP is gaining renewed vitality with the emergence of LLMs. Laiye remains committed to innovating in digital workforce solutions, seamlessly integrating the latest AI technologies to help organizations to close the work execution gap more efficiently."
Laiye has also been recognized as a Major Contender in Everest Group's Intelligent Document Processing Products PEAK Matrix® Assessment for two consecutive years since 2022. To learn more about the Laiye IDP solution and learn how it can work for your business, please Contact Us.